Since SFM was named a servicing carrier for the Wisconsin Worker’s Compensation Insurance Pool in late 2021, new pool business has been coming in steadily and is currently ahead of plan.

SFM is one of five servicing carriers who are each handling 20% of the Wisconsin residual market as part of a five-year contract with the Wisconsin Compensation Rating Bureau (WCRB). SFM anticipates hitting the full 20% in Wisconsin assigned risk pool premium – approximately $12 million – by the end of the first quarter of 2023.

Staff expansion

To service this continued growth, SFM is expanding its Wisconsin-based assigned risk pool operations. As part of the WCRB contract, SFM initially only onboarded new business, and renewal business was kept with existing servicing carriers. As we get close to the one-year mark and in anticipation of the first round of renewals in January 2023, we added a premium auditor to our Wisconsin-based staff. We also recently hired a local claims representative. We plan to hire a second Wisconsin auditor who also has safety experience to provide both premium audit and loss prevention services to Badger State residual market employers.

Directing your clients

Agents and employers in the Wisconsin Worker’s Compensation Insurance Pool can find resources and contact information in the “State programs” section of sfmic.com.

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