Minneapolis-based workers’ compensation insurer and third-party administrator RTW Inc. has been awarded a three-year contract with the Minnesota Assigned Risk Plan.
Under the terms of the contract, RTW will provide policy issuance and claims management services to 25 percent of the Plan policyholders on a fee-for-service basis. The contract also has a mutual two-year extension provision, according to a company statement.
Under the contract, RTW will provide its proprietary claims management products and services along with statutory claims management services in an effort to reduce the Plan’s workers’ compensation costs. The Minnesota Assigned Risk Plan provides workers’ compensation coverage for approximately 42,000 Minnesota employers that have been unable to secure coverage through the voluntary insurance market.
RTW manages workers’ compensation programs for insured and self-insured employers using a management system designed to lower employers’ costs and return injured employees to work as soon as possible. RTW currently offers its services to employers in Minnesota, Wisconsin, South Dakota, Colorado, Michigan and Indiana.
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