Hanover Stone Partners introduces workers' compensation unit
Hanover Stone Partners has established a national practice group to assist employers in managing their workers' compensation costs.
Spearheading this new unit is Barry Thompson, who has over 30 years of experience in workers' compensation.
The practice will work with employers in creating solutions to reduce costs and improve claim outcomes.
It will provide strategies and methods to assess employer safety culture and practices, evaluate risk financing options such as captives, and implement claims management practices.
"For employers throughout the US workers' compensation represents the largest component of their overall casualty cost of risk, and has become a growing source of pain due to a number of variables that has resulted in double-digit increases in many jurisdictions," said John Kelly, managing director, Hanover Stone Partners.
"Under Barry's leadership, the new practice will leverage the diverse and specialised expertise of our risk advisors and partner firms throughout the US to help clients manage complex workers' compensation issues and control costs."
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