brokersfaq

Frequently Asked Questions

Will you work with my current broker?

We market our solution through a network of independent agents. Please forward your broker’s contact information, and we will reach out to discuss an appointment. Alternatively, please let your broker know you want to learn more about Synergy Comp.

I have a current safety program, will that cause an issue with your SOS Loss Control?

No, in most cases our policyholders have a safety program in place, and we are able to supplement their existing safety plans and work toward a safe work environment culture.

What types of coverage do you offer?

We offer guaranteed cost and large deductible programs.

I have exposures in many States, is that something you can underwrite?

Please have your broker contact us for more information. We are able to cover different types of exposures in various geographies.

What results can I expect?

Do you have the orange and blue charts? On average, our policyholders experience approximately a 35% reduction in experience mod after 4 years with our solution.

How low can my MOD get?

It varies by industry and class code. Please contact us to discuss the specifics for your class code.

How often will loss prevention visit and what is my time commitment?

Your loss prevention consultant will visit monthly. Your time commitment will be minimal following the initial kickoff meetings.

How soon will claims contact us after an incident is reported?

Claims is required to be in touch with an injured employee within 24 hours of an accident being reported.

How is my MOD calculated?

A simplified version of the Michigan formula:

Actual Primary Losses + Ballast + Weighting(Actual Excess) + Weighting(Expected Excess)
Expected Primary Losses + Ballast + Weighting(Expected Excess) + Weighting(Expected Excess)

A simplified version of the Pennsylvania formula:

Actual Losses(Credibility) + Expected Losses(Limitation)(Credibility) + Expected Losses(1-Credibility)
Expected Losses