Omaha -- December 15, 2020 -- The State of California’s Workers’ Compensation Profile Audit Review (PAR) exam on insurance companies placed the California Insurance Company / Applied Risk Services, Inc. (CIC) as the top option for workers’ compensation insurance in the State for 2019. This marks over a decade with California Insurance Company in the top standing. While raising the bar on insurers for their claims handling performance standards, CIC earned the best score among insurers in this objective measure of value for policyholders, including: prompt and accurate delivery of workers’ compensation benefits, claims payments, and customer relations.
According to Mr. Steve Menzies, Chairman and CEO of CIC, the objectivity of the PAR Audit makes CIC’s achievement all the more satisfying: “Performance and claims related evaluations conducted by the states and by regulators are not always objectively based upon true data, so we are delighted to have earned this distinction, again.” He continued:
“It means to us that our policyholders are getting great value for their dollars and that their injured employees will be treated with excellent care.”
The recently released 2020 Report set its standard passing score at 1.36133 for claims administrators reviewed in 2019, the toughest standard ever set by the California Department of Workers' Compensation (DWC). The PAR exam score is essentially a fancy tally of exceptions, so higher scores represents poorer performance while lower scores represents superior performance. To pass in 2019, the score had to be below the 1.36133 standard. Of the 39 organizations audited in 2019, only 27 met or beat the PAR standard. CIC achieved a score of 0.77116.
Looking at the scores of insurance carriers only, here is the ranking in 2019:
