Mid Atlantic Real Estate Journal — Owners, Developers & Managers — September 27 - October 10, 2013 — 21B
www.marejournal.com
O WNERS , D EVELOPERS & M ANAGERS
Jonathan J. Cohen and Neil A. Owens Elias B. Cohen & Associates provides creative solutions for NJ’s property owners & managers
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roviding creative so- lutions for New Jer- sey’s property owners
3. Loss control services are provided to each insured worksite which results in
This process is the essence of the safety group. 4. Claims are monitored responsibly to see what can be closed. Claims left open contribute to increased expe- rience modification factors. 5. Dividends, though not guaranteed, are available based on the claims experi- ence of the Safety Group. For the first three full audited years, the Safety Group has paid three consecutive divi- dends (in November 2010 November 2011 and Novem-
ber 2012) of 11% each.
over the long term. Stabil- ity combined with creativ- ity leads to solutions never before available to NJAA property owners and manag- ers. It is time to re-evaluate your workers’ compensation program. It is time to find a solution in lieu of the same old myth about workers’ compensation. Jonathan J. Cohen is president and Neil A. Ow- ens is senior vice presi- dent of Elias B. Cohen & Associates in Roseland NJ. ■
6. The savings that the Safety Group members be- low a standard workers’ com- pensation policy has been greater than $935,000 over a four year period. These members would confidently say that not all workers’ compensation policies are the same. As Safety Group manager, Elias B. Cohen & Associates is committed to controlling the cost of risk for its clients
a n d ma n - ag e r s ha s long been a hallmark of Elias B. Co- hen & Asso- ciates. With W o r k e r s ’ Compensa- tion Safety
both man- datory and advisory rec- ommenda - tions. This com- mitment to safety keeps your employ-
Jonathan J. Cohen Neil A. Owens
Group #204, EB Cohen has once again delivered the type of solution that today’s prop- erty owners and managers need to succeed. Workers’ Compensation rates have risen 24% over the past three years (NJ code 9015 5.81 to 7.20). These increases are compounded because many owners and managers are unable to find worker compensation car- riers willing to offer any credits and in many cases, the policies in the assigned risk plan are being debited. In the end, most owners and managers are told that all workers’ compensation policies are the same because the state rate is the same for each carrier. Owners and managers are further frustrated by cumbersome audits throughout the year which results in a significant amount of wasted time spent trying to reconcile payrolls and 1099 payments which do not align with the calendar year. However, more and more often, savvy owners are find- ing out that this myth simply is not true. These ‘best prac- tices’ owners and managers are finding out that they can benefit in the following ways by utilizing Safety Group #204 for their workers’ com- pensation needs: 1. An up-front discount of 20% is available for most NJAA members (this is the maximum available in NJ and does not include further credits available through ex- perience rating factors) 2. A calendar year policy anniversary date helps expe- dite audits in a couple ways; first it allows for multiple policies to be audited at once because they share a com- mon expiration date, and second, it allows for easier calculation of both payroll figures and 1099 payments.
ees from getting injured, helps keep experience modi- fications down, and drives up the potential for dividends.
Our members saved over
in the last 5 years on Workers Comp costs. $ 935,000 How much did you save?
20% discount upfront on Workers Comp! 11% dividends three years in a row! * Upfront savings of up to 20% off the cost of Workers Comp coverage are now possible for eligible members of the NJAA who join our unique Workers Compensation Safety Group. Participation also offers these advantages: s 0OTENTIAL DIVIDEND based on experience of this large group – actual 11% per year for 2009, 2010 & 2011!* s %ASIER AUDIT PROCESS due to calendar year policy s #USTOMIZED RISK MANAGEMENT with the insight of E. B. Cohen experts
For further details on how to gain the rewards of participating in the new Professional Real Estate Owners and Managers Association Inc. Safety Group #204, please contact:
Neil Owens, CIC, Esq. Safety Group Administrator neil_owens@cohenins.com Tel: 973-403-9500 s
800-277-9505
Fax: 973-403-7755
Insurance Agents Brokers, Consultants & Risk Managers for the Real Estate Industry
*Past performance is no guarantee of future results. 2012 to be declared December 2013.
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