TAKING THE FRUSTRATION OUT OF WORKERS' COMPENSATION!
David Leng’s presentation at the Hardwood Manufacturers Association 2016 National Conference and Expo, Improving your Risk Profile to Slash your Rates, provided immediate take-home value to everyone in attendance. The presentation was insightful, well organized and very thorough.
Members surveyed felt the session responded directly to their dilemma of increasing insurance premiums and decreasing coverage. They walked out the door with ideas for manageable solutions to control their rising premiums. I personally was impressed that David spent time prior to the session acquainting himself with members of our Association, making sure his material was indeed focused to their needs. It was spot-on.
We will continue to collaborate with David regarding our members’ concerns with property insurance and Workers’ Compensation costs
Linda Jovanovich, Executive Vice President - Hardwood Manufacturers Association
It was a pleasure to work with David Leng as one of the primary speakers for our recently held Annual Meeting. In addition to being incredibly knowledgeable about what wood products manufacturers require to properly insure their business and manage their risks, David also understands the industry which is critical to helping companies remain in business should they suffer a major loss.
David was well received and has already helped a number of members.
We would be more than happy to have David address our members at a future meeting.
Wood Products Manufactures Association
Understanding the Wood Industry
Recently, I had the privilege of speaking to the Hardwood Manufacturers Association at their 2016 National Conference in Fort Worth, Texas, and the Wood Products Manufacturing Association at their 2016 Annual Meeting in Louisville, Kentucky.
The wood manufacturing industry has been facing substantially increasing insurance premiums due to a combination of multiple large, catastrophic claims and a significant reduction in the number of insurance companies willing to provide insurance policies to them. Many of the members expressed to me that they had seen their premiums double or triple despite the fact they may have never had a claim. With the members being crushed by their insurance costs, members were asked for a clear way to help reduce their premiums since obtaining insurance quotes was not really working for them.
As competition between insurance companies had been significantly reduced, the members needed to have a plan as to how to achieve results and go beyond just trying to get quotes. After speaking with several members in preparation of the workshop, the members wanted to have a better an understanding as to how insurance companies price their insurance policies, a better understanding of the insurance system, but ultimately, they wanted to know how to make their organization more attractive to the remaining few insurance companies so that they could earn better rates and slash their premiums.
The Hardwood Conference workshop was the basis, or inspiration, of my latest book, the Laws 10 of Insurance Attraction, which is an expanded compilation of everything touched on in that workshop as well as many, many ideas and concepts that there was not enough time to address.
The Wood Products Conference workshop was focused on helping members to understand what happens after a catastrophe, and why so many of their fellow members have not been able to reopen following a disaster, and despite the fact that they had insurance! We went through the process that Ken Clifton of CCF Industries experienced before and after their April 4th, 2014 devastating fire that destroyed their entire business. We explored how they were the only 1 of the 5 WPMA members to reopen following that level of a catastrophe in the past 4 years. Odds are that over 50% of businesses will either not reopen or will close within 3 years of reopening is the basis of my upcoming book, Insured to Fail, which a preview is included in the Laws of Insurance Attraction. Read more in Disaster Survivors.
The 10 Laws of Insurance Attraction
As a successful business owner, why would you keep rolling the dice when it comes to managing your insurance program? Constantly frustrating yourself chasing quotes through the broken insurance industry bidding process? Leaving the determination of your premium up to the insurance industry with their “hard” and “soft” market cycles? Only you can answer these questions. But you can take some comfort in knowing that you are not alone.
Nearly 30 years of experience has shown that the most successful business owners do not allow their results to be left to chance. They have found that by better managing their organizations, they become more attractive to insurance companies and earn significantly lower premiums. Using these little known management secrets, they have made their companies more productive, profitable and enjoyable.
Inside these pages you will find out how to stop gambling as the way to reduce your insurance premiums, and learn how to put yourself in a winning position where you ultimately control the game.
By purchasing & registering your book, you will receive:
Like any other business owner, I turned to several friends to find out who they were insured with. I was also receiving quite a few calls from agents offering to save me money. Even my agent at that time, who worked for perhaps the largest insurance agency in the region, was trying to find as many options as he could. With so many agents promising they could save me money and deliver results, I thought we would be seeing a substantial reduction. I was wrong.
I was about to take the “best” quote available when a business associate put in contact with David Leng. Because of David’s commitment to resolving our situation, we were able to quickly lower our insurance costs. First, he found and recovered $86,000 in errors that my old agent allowed to occur over two years, which no other agent saw. He also made us more attractive to them before he went to obtain quotes on our behalf. His approach reduced our premium by 41%, in addition to the correcting our premium errors! In two short months, David’s program put back over $200,000 in our pocket.
What you will read in this book, combined with what you should have read in David’s first book, is a road map to overcoming high insurance rates, a kind of GPS for lowering your premiums while raising both the productivity and profitability of your company. My situation serves as proof that just getting quotes is not enough to manage your insurance program’s costs, that you can do better when you use a better way. I can tell you this from first-hand experience; if you are an employer and don’t have David Leng’s books in your office, you are putting your company at a serious competitive disadvantage.
Mark Duda, President
Duda Cable Construction, Vandergrift, Pennsylvania
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