“We continue to be very pleased with the change in our risk management and insurance program and feel the results are due to our association with Lambent.”

Tyren Eastmond

Case Study : A.L. Eastmond & Sons

A.L. Eastmond & Sons, a manufacturer of federal boilers, has been doing business in New York for over 80 years when they were referred to Lambent Risk Management Services by another one of our satisfied clients. For years, the company had been plagued by a lack of clarity in the handling of claims across all major lines of coverage and pricing of the entire program, including:

• Excessive rates due to misclassification of workers
• Experience modification changes every few months for several consecutive years
• No claims assistance or advocacy
• Lack of loss mitigation and control advice in general liability and commercial auto
• Assignment of a law firm to handle claims in the firm’s large deductibles program

Lambent implemented the following improvements, resulting in a premium savings of nearly $500,000:

• Workers’ compensation program written in the private marketplace with appropriate worker classification
• Experience modification factor promulgation at the end of the policy period
• Use of a Third Party Administration for claims processing at a third of the cost of using attorneys
• Implementation of policies with terms longer than 12 months to guarantee rates at uncertain times