Hanover Stone Practice Aims to Control Workers’ Comp Costs

April 7, 2017

Hanover Stone Partners, a risk management services firm, has established a dedicated, national practice group to help employers manage workers’ compensation costs.

Barry E. Thompson, who has more than 30 years of experience in all areas of workers’ compensation cost management, will lead the new practice.

Known as WorkersComp Guard, the new practice will work in collaboration with employers to reduce costs and improve claim outcomes. The practice will provide strategies and methods to assess employer safety culture and practices​, evaluate risk financing options, implement best claims management practices​, and leverage data for program measurement and more effective resource deployment.

Thompson said WorkersComp Guard is independent and offers an alternative for employers who “have hit a wall in working with their vendors to lower costs.”

In addition to leading WorkersComp Guard, Thompson concurrently is president of Risk Acuity, LLC, a national consulting firm specializing in workers’ compensation, which he founded in 2002. Previously, he was National Practice co-leader with Deloitte where he co-founded the firm’s National Disability Management Services Unit.

Earlier, he was vice president and managing consultant with Aon, where he was among the founders of the Aon Management Institute, a practice built around workers’ compensation cost containment and education.

He began his career with Liberty Mutual where he became senior claims adjuster before joining Marsh in 1986 as assistant vice president and claim account representative. He also served as a claim manager with Air Express International.

Headquartered in New York City, Hanover Stone Partners is a risk management advisor and specialized risk management services firm.

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