Case Study - Workers Compensation and ISO Reporting

Problem:
One of the largest reinsurers in the world needed immediate statistical reporting assistance (USR, ICR, DCI and ISO), for their primary insurance subsidiary.

A managing general agent that wrote over $100 million in Workers' Compensation premium on behalf of the primary insurance company was forced into receivership. The statistical reporting and claims for this Workers Compensation book of business required immediate transitioning to a third party who would be responsible for filing new and previously filed reports.

Solution/Result:
Despite the many difficulties experienced with a defunct MGA, the Department of Insurance and the statistical reporting bureaus, Trumbull was able to coordinate the different points where information was stored and began reporting within six months of the final agreement.

Problem:
The second assignment involved the design and implementation of ISO reporting on a going forward basis for the carrier.

Solution/Result:
Trumbull was able to use a consultative approach with regard to the bureau and assist the customer in understanding what was required. Trumbull designed a unique mapping layout, which was used to coordinate multiple information sources. Because of this effort, Trumbull will start reporting ISO information from two Managing Agents and two Third Party Administrators within six months of the final agreement.

Sound Bites:
- "These two scenarios were very difficult and not within our core competencies to solve. We are very satisfied with the performance of Trumbull and will not hesitate to use them for other projects".