When I read this  article by Insurance Journal, I see opportunity for brokers– YES  broker opportunity.

The way I read it:  Employers are more and more going to be looking for value-added services that will help reduce higher workers’ comp costs.

A broker can:

A) Get new accounts by offering workers’ comp services to help keep losses down.

B) BOR accounts by helping  employers recoup overpaid premiums and  look like a hero broker —offering way more then their current broker.

C) Offer some type  of worker’s comp savings program to current clients to maintain your book of business.

With payrolls down and no sign of any big turning point, brokers need to add a lot more business to their current book.  And with rates on the rise, existing clients will get their renewal quotes and will see big increases from the past year and they will shop around, BUT a broker that is focused on servicing clients with lots of extras will WIN!!

see article here Workers’ Compensation System’s ‘Elephant in the Room’