| FOR IMMEDIATE RELEASE |
Contact: |
Edie Clark, NAPEO (703) 739-8162 edie@napeo.org |
PEO and Insurance Industries Convene to Focus on
Workers' Compensation Risk Management
Alexandria, Va. (March 29, 2005) Risk management professionals and executives in the professional employer organization (PEO) industry turned out in force for a major networking and educational workshop on workers' compensation risk management March 9-10 in Tampa, Fla. They were joined by carriers, brokers and agents in the insurance and re-insurance industries who recognize the importance of the PEO industry in serving small businesses with workers' comp risk management.
More than 150 professionals participated in the workshop to hear experts discuss trends in workers' comp risk management and to exchange ideas on best practices. The workshop was presented by the National Association of Professional Employer Organizations (NAPEO), known as The Source for PEO Education®.
"There was an overwhelmingly positive response to this workshop from PEOs and their insurance carriers, because they are strong partners in delivering workers' comp risk management to small businesses in America," said Milan P. Yager, executive vice president of NAPEO. "Participants left with a renewed sense of common purpose and commitment to promoting PEOs' use of the best practices in risk management."
A major topic was the PEO Workers' Compensation Risk Management Certification Program administered by the Certification Institute (CI). The program resulted from an unprecedented initiative by the PEO industry to work cooperatively with the insurance industry on independent certification for PEOs. The certification is based on the insurance industry's best practices in workers' comp risk management. The program was launched by CI, an independent nonprofit corporation promoting industry professionalism and best practices.
"Emerging trends in risk management and best practices certification were the focus of this workshop. Participants left with tangible reasons to adopt and consistently implement best practices," said Jane McCoggins, executive director of the Certification Institute.
The workshop sessions covered critical aspects of workers' comp risk assessment, loss prevention and claims management. Insurance and PEO professionals exchanged ideas and learn first-hand about their common goals, respective challenges and accomplishments. The sessions reinforced the value of using proven risk management practices. Those in the insurance industry gained a better understanding of how PEOs can be a valuable partner in delivering effective workers' comp risk management to small business.
For one of the workshop panelists, Howard Levy, senior vice president of Aon Risk Services, the workshop symbolized "the next stage in the relationship between the PEO industry and the workers' comp insurance industry, which is a rational partnership built for long-term solutions." He also noted, "The number of PEO risk managers and high-level carrier executives who participated indicates the continuing maturation of the workers' comp arena for PEOs. The central role played by the Certification Institute and its best practices is absolutely integral to this maturation. This affords the PEOs a vision and the carriers a true standard of what will provide the best long-term results for all of the parties."
The strong participation by PEOs and carriers also symbolizes a commitment to excellence, according to Bob Snashall, chairman of the board for the PEO Workers' Comp Risk Management Certification Program and former chairman of the New York State Workers' Compensation Board. "This was the largest gathering ever of PEO risk management professionals and insurance carrier representatives, and their enthusiasm illustrates the growing trust and common purpose."
"The workshop and the Certification Program have helped to focus the dialogue between PEOs and carriers on the PEOs' risk management capabilities," said Robert Meyer, principal and consulting actuary for Milliman, Inc., who serves as treasurer of the certification program board. "These are two great ways for the insurance and PEO industries to join forces in identifying risk transfer opportunities aligned with industry risk management best practices."
To learn more about the PEO industry, visit the NAPEO Web site: www.napeo.org. For information on the Certification Institute and its current programs, go to www.certificationinstitute.org.
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NAPEO, the National Association of Professional Employer Organizations, is the recognized "Voice of the PEO Industry.®" NAPEO has nearly 300 PEO members found in all 50 states, representing more than 70 percent of the industry's revenues. Professional employer organizations enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers' compensation. PEO clients focus on their core competencies to maintain and grow their bottom line.
The Certification Institute's (CI) mission is to promote industry professionalism and best practices by developing and administering certification programs in an objective and reliable manner that brings value to the industry, to its participating members and to the public it serves. CI was founded in 2002 as an independent non-profit corporation. CI's initial program to certify PEO workers' compensation risk management best practices was developed with the financial support of NAPEO and with the assistance of the Employer Services Assurance Corporation (ESAC).
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