CompWize, the premium recovery division of SMP Consulting Group, announced today that it successfully recovered more than $150,000 in workers' compensation premiums for a Michigan-based, multi-state cannabis industry employer. Audit uncovers unapplied experience modifiers, returning significant savings to business operations
HOLBROOK, N.Y., Oct. 16, 2025 /PRNewswire-PRWeb/ -- The recovery stemmed from a detailed audit of the employer's workers' compensation policies for the 2022–2023 coverage years. CompWize identified that experience modification factors (mods) of 0.81, 0.78, 0.73, and 0.69 had not been properly applied across multiple states, resulting in substantially inflated premiums. After months of coordination with the insurance carrier, refunds totaling more than $150,000 were issued, returning critical capital to the business.
"Workers' compensation is one of the largest expenses for employers, yet errors are incredibly common," said Brian Kelly, Partner & COO of SMP Consulting Group. "In this case, simple misapplications of experience modifiers created hundreds of thousands of dollars in unnecessary costs. Our mission is to ensure businesses only pay what they truly owe and to give that money back to fuel growth, jobs, and investment."
This recovery underscores a broader issue facing employers nationwide. Industry studies suggest that up to 70% of workers' compensation policies contain errors, from payroll misclassifications to overlooked subrogated claims and unapplied experience modifiers. Left unchecked, these mistakes can cost companies hundreds of thousands, or even millions of dollars in lost capital.
CompWize specializes in uncovering these errors through its contingency-based Workers' Compensation Premium Recovery Audit Program, helping mid-market employers protect their bottom line and reinvest savings back into their operations.
About CompWize
CompWize, a division of SMP Consulting Group, is a national leader in workers' compensation premium recovery. Through specialized AI audits, CompWize identifies misclassifications, EMOD errors, and other overcharges that inflate premiums. The company has recovered millions of dollars for mid-market businesses across industries, ensuring employers pay only what they truly owe.
For more information, visit www.COMPWIZE.com.
Media Contact:
Edward J. Kelly, Jr.
President & CEO, SMP Consulting Group/CompWize
4400 Veterans Memorial Hwy, Suite 205
Holbrook, NY 11741
D: (631) 647-9210 ext 304
Media Contact
Edward Kelly, SMP Consulting Group, 1 6316479210 304, [email protected], SMPCONSULTINGGROUP.COM
SOURCE SMP Consulting Group
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