Description
THE COST OF IGNORANCE is a riveting novella by business insurance veteran Robert Phelan.The story punctures confusing insurance jargon and introduces a powerful new concept for middle-market companies: a little-known form of insurance referred to as Performance-Based Insurance™ (PBI) costs less and can save a company millions of dollars over the years. The tale is told through the misadventures of Timothy Franculli, owner of a wholesale manufacturing company that is about to go broke on account of escalating liability and health insurance costs. Timothy attends a conference in San Francisco where he runs into an old friend and learns about PBI, a kind of insurance that could save his struggling company hundreds of thousands of dollars per year. But there’s a catch. Most often, with a view to qualify for PBI, a company will have to have a strong safety culture where worker injuries and accidents are controlled and rather predictable. Franculli has a large number of catching up to do after a series of employee injuries the year before caused his worker’s compensation premiums to skyrocket 40 percent.