Commercial Insurance

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Millennium Corporate Solutions has created an in-house unit to assist its clientele with preventing, reducing, mitigating and controlling the cost of risk associated with doing business in today's highly regulated and litigious environment. This Cost Containment Unit is comprised of experts with 60+ years combined experience.

The Cost Containment Unit's objective is to assist your company control its Insurance and Risk related cost; whether it is preventing losses from occurring or managing the losses when they inevitably occur. Read Our Most Recent CCU Success Stories

Effective Risk Management

Our Cost Containment Unit provides an effective risk management program to protect a company’s assets through a systematic process of Identification and Analysis of exposures.

How a Risk Manager will affect your company and add value to the organization:

  • Increased productivity and morale of workforce
  • Effective integrated RMIS (Risk Management Information System) —Timely, accurate and comprehensive management reports and data
  • Overall reduction of Risk to provide management with the ability to plan and budget
  • Risk Management policies and procedures understood and accepted at all levels of the organization
  • Demonstrate added value by quantifying how efforts add to profits

Risk Identification
Risk Identification is the process of identifying and examining the potential sources of losses an organization faces.
Risk Analysis and Prioritization
Risk Analysis and Prioritization is the assessment of the potential impact various exposures can have on the organization. The potential loss impact is analyzed at all levels, internally and externally. One important step in this phase is to develop the Risk Tolerance Corridor or managements’ appetite for risk.
Risk Control and Loss Prevention
Risk Control and Loss Prevention is any conscious action or inaction to minimize at the optimal cost, the probability, frequency, severity and unpredictability of loss.
Risk Financing
Risk Financing is the acquisition of funds at the least possible cost to pay the losses that strike the organization. Determining the organizations’ ability and willingness to retain risk is crucial when determining retention of risk.
Risk Implementation
The Risk Implementation phase is used for policy planning and development, program implementation and monitoring.

Recent P&C Cost Containment Success Stories

Workers Compensation Cost Containment Unit
Recent Workers Compensation Cost Containment Success Stories
  • Identified errors on carrier filed Unit Statistical reports and then submitted corrections to the WCIRB that resulted in a 30 point reduction of the client’s 2014 Experience Modification and saving the client $30k in premium.
  • CCU has been a successful advocate in bringing “Non-Compensable” claims to the WCIRB and carriers’ forefront for purposes of Unit Statistical Corrections, which has resulted in retroactive and prospective removal of Denied claims for purposes of ExMod Ratings. We often educate and advise carrier claims personnel and even WCIRB staffers about the Unit Statistical rules. Recently, the WCIRB just issued a general memorandum based on the information Millennium’s CCU provided on the Non-Compensability scenario
  • CCU has been successful assisting clients with Wage Protection Claims, i.e. Post Termination fraudulent/abusive/retaliatory claims by assisting them complete a “Comprehensive and thorough Employer Level Investigations which have lead to quicker Denials and lower settlement costs.”
  • Through CCU’s “Innovate and Aggressive and all-encompassing claims/safety procedures” we’ve been able to help clients substantially reduce their reportable claims.
Our Areas of Property and Casualty Expertise: