Key Risk Management Services likes to be close to its clients.
The Greensboro, N.C.-based provider of workers? compensation products and services was recently awarded a contract by the City of Baltimore to provide third-party administrative services and manage workers? compensation claims.
Key Risk plans to open offices at the Wachovia Tower on St. Paul Street and hire 50 employees to manage the city?s workers? compensation claims.
“We had identified Maryland as an area where we wanted to expand,” said Anne Myers, senior vice president for marketing and client services for Key Risk.
“Once we were awarded the contract with Baltimore, we knew we wanted to expand our operations and open an office in the city,” Myers said. “By having an office in the state, we know the medical professionals, we know the laws and legal issues, and we know the area.”
Filed workers? compensation claims in Baltimore City decreased 1.6 percent from 2006 to 2007 (4,497 claims to 4,425), according to the Maryland Workers? Compensation Commission. From 2005 to 2006, filed claims decreased 10.7 percent (5,036 to 4,497).
Across Maryland, filed workers? compensation claims decreased 4.7 percent from 2006 to 2007 (26,143 to 24,924), a greater decrease than the 3.6 percent from 2005 to 2006 (27,122 to 26,143).
The average award was $18,024 in 2007, a 3.8 percent increase over the average award in 2006, according to the commission.
In addition to Maryland, Key Risk operates in Georgia, Kentucky, North Carolina, South Carolina, Tennessee and Virginia. The company works with many public entities, having worked with the state of North Carolina since 1996.
“The award … marks a significant milestone in our Key Risk history,” Rob Standen, president of Key Risk, said in a statement. “It signals our official expansion into Maryland and recognizes our expertise in working with municipal governments and public entities.”
