Welcome to Professional Risk Organizers, Inc./Loren Risk Management, Inc.

DOING BUSINESS SINCE 1986

ABOUT US

image-placeholder
image-placeholder

WHO WE ARE

We would like to introduce you to our firm. We not only specialize in workers' compensation insurance but we also manage 5 safety groups within the New York State Insurance Fund, NYS largest workers' compensation writer; doing this for over 30 years.

We were established as safety group managers In January of 1986. We currently manage 5 successful safety groups within the State Insurance Fund. 

The 5 safety groups that we manage are found in the following industries:

1) Machine Shop in NYS – Safety Group #506

 2) Bakeries in NYS – Safety Group #511 

3) Supermarkets (Downstate NY Only) –  Safety Group #523

 4) Machinery Manufacturers in NYS – Safety Group #525 

5) Printers in NYS – Safety Group #555 

In addition to being safety group managers, we represent clients in GENERAL GROUP #90 and perform EXPERIENCE MODIFICATION REVIEWS for clients in GENERAL GROUP #90.

image-placeholder
image-placeholder

WHAT WE DO

While some of our members were brought into our safety groups by outside brokers or consultants, the affairs of the safety group are managed solely by the safety group manager. The safety group manager while representing the membership works in concert with the State Insurance Fund to obtain the best possible results in terms of safety, claims management and overall cost effectiveness.

This aggressive undertaking enables us as group managers to preserve advanced discounts and develop solid group dividends. OUR DIVIDEND-PAYING RECORD IS EXCELLENT! As of 2013 the dividends returned to group members has slightly exceeded 100 MILLION DOLLARS! 

Our safety group management team consists of an expert staff. Your claims are monitored by individuals who are dedicated in assisting and protecting you, your employees and the safety group as a whole. We also have professionals on duty to assist in underwriting issues and general concerns. 

Our safety group programs have proven time and again to be the most cost effective method of managing our clients’ workers' compensation insurance. While other programs may claim to be better, you would do well to examine their “track record,” if any. Our programs continue to deliver!

We are there to LOOK OUT FOR YOUR INTERESTS with the State Insurance Fund. Our goal is to keep your premiums as LOW AS POSSIBLE by reviewing reserves, monitoring losses and closing cases on a timely basis. YES, WE ARE HERE TO SERVE YOU!

Experience Modification Reviews: In addition to being SAFETY GROUP MANAGERS, we also perform a valuable service for GENERAL GROUP #90 accounts written with the State Insurance Fund.

Our COMPREHENSIVE CLAIMS REVIEW will allow us to see what reserves on open and closed cases were reported to the Rating Board. We are often able to uncover some serious errors that have negatively impacted your experience modification.
Professional Risk Organizers, Inc. will compile all data that could be revised. We will then present this data to the State Insurance Fund. Changes will be filed electronically with the Rating Board. We will follow through to see that changes are in fact made and that your firm receives all appropriate credits with the State Insurance Fund.

In today’s marketplace starting with the 2014 Year, the factors being used by the Rating Board are MUCH HIGHER. This will only increase over the next few years. That is why it is SO VITALLY IMPORTANT that your modification factor is monitored carefully and closely!

OUR MODIFICATION REVIEWS HAVE ALREADY SAVED MANY CLIENTS THOUSANDS OF DOLLARS!!!

Our fee for this service is moderately priced (35% of what SAVINGS are generated for you and if there are NO SAVINGS AT ALL then there is ABSOLUTELY NO FEE TO YOUR FIRM).

We can either work directly with your firm, or we will be happy to conduct our review through your insurance broker.

REMEMBER THIS – We review all of your losses to be sure that NO ERRORS have been made. An incorrect DEBIT MODIFICATION can hurt you just as much as a CREDIT MODIFICATION being too LOW!

image-placeholder
image-placeholder

WHAT IS A SAFETY GROUP?

A safety group is a loss–sensitive insurance program that enables employers in the same industry to pool their insurance premiums with the goal of reducing the cost of workers’ compensation insurance.

While it is possible that an individual group member may have substantial losses in any given year, most of the members of the group will not. This often allows part of the group’s premium to be returned to participating members in the form of dividends.

To reduce the cost of workers’ compensation insurance, a safety group encourages measures to prevent accidents and to make the workplace as safe as possible.

NYSIF’s safety group programs are truly safe for the employer from both a financial and an insurance standpoint.

HISTORY OF SAFETY GROUPS: NYSIF’S safety group programs are designed for longevity and stability. Their oldest safety group dates back to 1923 and they currently have approximately 25 safety groups that are at least 50 years old. The NYSIF has consistently been supportive of the long-term success of safety groups.

Over the years the NYSIF has consistently offered up front discounts and additional group dividends to group members based upon their group’s performance. The long term viability, success and performance of NYSIF safety groups make them attractive to many employers. A safety group program offers employers a stable, low risk, low cost, and fully–insured alternative to private carrier insurance plans and Self Insurance Trusts.

TYPES OF SAFETY GROUPS: NYSIF has two types of safety groups:

1) Trade Groups: for employers in the same industry, in which eligible employers need only to belong to the industry that the group represents. There is only 1 Trade Group allowed per industry.


2) Association Groups: for employers who are in the same industry and who belong to a particular industry association, in which the employers are required to be dues-paying members of the industry association that sponsors the safety group.

SAFETY GROUP DIVIDENDS: although dividends cannot be guaranteed, the success of a safety group is evidenced by their consistent dividend histories. Dividends are normally declared between six and 10 months after the end of the common group policy period.

IN ADDITION TO DIVIDENDS, most group members will receive advance discounts on their policy renewals. It is the potential combination of an upfront discount and an additional dividend that makes safety groups so attractive.

General Group #90: customers that are insured by The New York State Insurance Fund but are not in a safety group are placed in General Group #90.

Professional Risk will also represent customers in general group #90. We perform the same services as if you were in a safety group. However, since there is no dividend offered for this group our service fee would be less. The services offered would be as follows:

  • Oversee your claims
  • Keep reserves accurate
  • Aggressively pursue closure of cases when appropriate
  • Answer any of your questions when they arise
  • We would contact The State Fund on your behalf when warranted
  • Work towards improving your discount and lowering your experience mod factor (thus reducing your premium).

CLASSIFICATION CODES





* Inquire about rules and regulations

CONTACT US

GIVE US A CALL TODAY!

We appreciate your business, so feel free to contact us anytime during business hours.

Tel:  (212) 693-2500

Fax: (212) 693-2395

e-mail: Dwatkins@pro-lrm.com

Daniel L Watkins, President

125 Cedar Street, Suite 2S, New York, NY 10006

Business Hours

Monday - Friday: 9am - 4pm