People we have pleased.

The measurement of effective settlement.

CATEGORY: Healthcare
REVENUE: $74 billion

DETAIL:
A thirty-five year old man was a 24/7 employee of the healthcare company. He lost control of his vehicle while making a delivery, resulting in a loss of use of his legs. The worker’s comp judge stated he would award permanent and total disability (PTD) award.

RESOLUTION:
Exposure of medical in a life care plan was $4.5 million. Life expectancy of 40 years. 40 years X 12 months per year X $700 weekly benefit =$336,000. Free structured settlement offered for a monthly benefit. Injured worker's attorney received his attorney fee and the injured worker received money up front from the structured settlement agreement plus his monthly benefit for his life expectancy.

 SAVINGS: $4.3 million

CATEGORY: Manufacturing
REVENUE: $3 billion

DETAIL:
A forty-five year old, father of two steelworker was suffering in excruciating pain as a result of 5 back surgeries, relying on prescription medication and physical therapy to help him tolerate the pain.

RESOLUTION:
Structured settlement agreement of $150,000 to settle out the claim. Employee was paid money up front to take care of medical costs, the employee’s attorney was paid his fee for handling the claim, and a monthly benefit was set up for the employee to settle his claim.

30 year life expectancy X 12 months $600 weekly benefit = $216,000
Medical exposure is approximately $500,000 for a total exposure of $716,000. Settled claim for $150,000.

 SAVINGS: $550,000

CATEGORY: Retail
REVENUE: $2 billion

DETAIL:
Reorganized a 3,000 claim program of active claims

RESOLUTION:
Reduction of overall reserves by $1 million to properly financially analyze the Ohio Work Comp program for reserves for the corporation.

SAVINGS: $1 million