Qualified Loss Management Program

The Insurance Advisory is authorized by the Mass. Workers' Comp. Rating Bureau (WCRIBMA) to provide the QLMP for clients in the assigned risk pool.

The WCRIBMA assigns us a performance-based credit percentage which is applied to each of our client's total annual premium at audit. This credit is currently 15%.

The 15% credit is applied to our clients' existing policies. Participating employers keep their current insurance broker and carrier, no changes.

Employers are eligible to enroll up to six months after the policy inception date, even if voluntary coverage is acquired at the end of the policy year.

We can assist our clients with loss prevention and claims management in a variety of ways. The program is customized to meet each client's specific needs.

Our fee is based on the savings that our clients receive from the credit, no additional administration charges.

The only requirements are that the policy is in the assigned risk pool and that the client has not previously taken full advantage of the program.


Questions & Answers:


Q: How and when is the QLMP credit applied to my policy?

A: We submit the QLMP application to the rating bureau on your behalf. Once approved, it is forwarded to your carrier. Your carrier will apply the credit to your final, audited premium at the end of the policy period.

Q: We already have effective loss management controls in place. What can you do for us that we're not already doing?

A: Every situation is different. We customize our program to meet the needs of each individual client. Helping with implementation of existing safety policies, expediting open claims, negotiating with your carrier, and representing your interests at DIA proceedings are a few of the ways we can help to streamline your loss control system.

Q: My company has participated in the QLMP before. Can we do it again?

A: The QLMP is a 4-year program, but the years don't have to be consecutive. You may still be eligible for 1-3 years, even if you've participated in the past.

Q: What if we find coverage in the voluntary market after the first year? Can we continue to take advantage of the program?

A: Yes, but participants who enter the voluntary market are required to stay in the program concurrently. If you skip a year, remaining eligibility can only be realized if you re-enter the assigned risk pool at some point in the future.

For more information, please contact us today.