Edward J. Priz has worked full time in the insurance industry since 1976. In his career, he has worked as a licensed insurance producer, as a Vice-President of an insurance agency specializing in commercial property and casualty insurance, and as a consultant on commercial property and casualty insurance. Since late 1987, he has headed his own consulting practice on commercial insurance cost and coverage, doing business as Advanced Insurance Management. In this practice, Mr. Priz provides professional advice to commercial insureds, as well as to insurance agents and brokers, on property and casualty insurance. An area of particular emphasis in this consulting practice involves reviewing Workers Compensation insurance premiums and audits for technical mistakes made by insurers or rating bureaus. Clients of this consulting practice have included manufacturers, contractors, utilities, transportation companies, staffing companies, a federal government agency, a chamber of commerce, and others. Mr. Priz’ consulting clients have included both large and small employers throughout the United States, ranging from small machine shops to Fortune 500 corporations, including Caterpillar, Inc., Federal-Mogul Corporation, and Bridgestone/Firestone.
Mr. Priz has also provided expert testimony regarding Workers' Compensation insurance premium computation, insurance agent/broker standards of care, and other aspects of commercial property and liability insurance, in both federal and state courts, as well as in legal hearings before insurance regulators in Illinois and Nebraska. He has also consulted on the drafting of legislation pertaining to Workers’ Compensation insurance in Illinois, and has testified on insurance regulation before the Illinois legislature. He has also assisted clients in successful appeals of NCCI decisions at the Illinois Workers’ Compensation Appeals Board. Mr. Priz has also assisted clients in legal hearings before the Illinois Department of Insurance and the Nebraska Department of Insurance.
Professional Designations and Degrees
Mr. Priz holds the professional designation Chartered Property
Casualty Underwriter (CPCU) from the American Institute of
Property and Liability Underwriters, as well as the designation Associate
in Premium Auditing, (APA) from the Insurance Institute of America. He
is a 1974 graduate of Roosevelt University in Chicago, receiving a Bachelor of
Arts Degree (With Honors).
Insurance Career
Mr. Priz entered the insurance industry in 1976 as a licensed life and
health insurance producer in Illinois. In 1978 he also was licensed in Illinois
as a property and casualty insurance producer. In his insurance career he has
worked for a direct-writing insurance company, independent insurance agencies,
and insurance consulting companies, as either a licensed agent/producer or a
consultant on commercial property and casualty insurance. He served as
Vice-President of Alper Services, a company that owned a commercial insurance
agency and brokerage in Chicago, as well as an insurance consulting company,
AuditRate, Inc. In 1982, he began consulting on commercial property and casualty
insurance, with an emphasis on Workers’ Compensation insurance, while continuing
to also act as an insurance agent and broker. In 1987, Mr. Priz began
exclusively serving as a consultant on commercial property and casualty
insurance, first with Corporate Policyholders Counsel, Inc. and later in his own
consulting practice doing business as Advanced Insurance Management.
Publications
Mr. Priz is the author of the 2005 book The Ultimate Guide to Workers' Compensation Insurance, published by Entrepreneur Press. He is also the author of the 1995 book CompControl, published by Oasis Press, with a revised edition published in 2001. Mr. Priz has also authored Chapter 22 of the “Illinois Workers Compensation Manual”, published by the Illinois State Chamber of Commerce in 2007.
Mr. Priz is also the author of “Report on a Study of Small Employers and the South Carolina Second Injury Fund’s Impact on Workers’ Compensation Insurance Premiums” commissioned by the South Carolina Small Business Chamber of Commerce. Mr. Priz has also authored articles on insurance for publications such as Corporate Cashflow, Illinois Business, Talking To The Boss, The Builder, The DuPage Business Ledger, Occupational Safety and Health, and Crain’s Small Business. The work done by Mr. Priz in his consulting practice has also been the subject of articles in The National Underwriter, Nation’s Business, Employer Practices Journal, AKFC Quarterly, Small Business Computing, MSNBC.com, and other publications.
Memberships and Affiliations
Mr. Priz is a member of the National Society of Chartered Property Casualty Underwriters. He is also a member of The National Society of Insurance Premium Auditors. Mr. Priz is also currently a member of the Workers’ Compensation Committee of the Employment Law Council of the Illinois Chamber of Commerce, and is also a member of the National Association for Business Economics. Mr. Priz has also served on a task force organized by the Illinois Department of Insurance to implement new Workers’ Compensation insurance regulations.
Presentations and Seminars
Mr. Priz has presented lectures and seminars before a number of
insurance and business groups, including The Illinois Chamber of Commerce, The
Workers Compensation Claims Association, The International Kitchen Exhaust
Cleaning Association, The Greater Peoria Contractors & Suppliers Association,
The Central Illinois Employers Association, The Illinois Manufacturers
Association, The Missouri Contractors Association, The Midwest Society of
Professional Consultants, Caterpillar, Inc., The Illinois 1752 Club (an
organization of insurance marketing professionals), The Chicago Roofing
Contractors Association, the International Recreational Water Professionals, the
National Association of Women in Construction, and the Construction Risk
Management Conference sponsored by the International Risk Management
Institute. He has also presented an internet-based “webinar” on the subject of
Workers’ Compensation insurance premiums for M. Lee Smith Publishers LLC.
Mr. Priz has developed several seminars approved for Continuing Education credit for insurance producers by the Illinois Department of Insurance and other state insurance regulators.
Prior Testimony
In the past five years, Mr. Priz has provided expert opinion and/or
testimony in the following legal matters:
Reliance Insurance v. Wayne Williamson and Willstaff Crystal, Inc. Filed in USDC Western District of Louisiana, Civil Action No. 3:06cv532. Retained by defendant Williamson. Prepared written report of opinions and provided deposition testimony regarding Workers’ Compensation insurance premium computation and insurance agent responsibilities and authority.
Workers Compensation Services, Inc. v. South Valley Drywall, Inc. Filed in District Court Douglas County, Colorado, No.04CV482. Retained by defendant South Valley Drywall, Inc.. Provided deposition testimony regarding Workers’ Compensation insurance premium calculation and dividend calculations, as well as premium recovery consulting work.
Companion Property & Casualty Group v. Henry’s Automobile Auction, Inc. and Coverage, Inc., filed in the Circuit Court for Fairfax County, Virginia, Law No. CL 2005 7307. Retained by defendant Henry’s Automobile Auction, Inc. Provided deposition testimony and testimony at trial regarding Workers’ Compensation premium computation, classification, experience modification factors, payroll audits, and NCCI manual rules.
St. Paul Fire & Marine Insurance Company v. ABG Caulking Contractors, Inc. v. Gale, Smith and Company, Inc, filed in the United States District Court for the Middle District of Tennessee Nashville Division, Case No. 3:05-0437. Retained by third-party defendant Gale, Smith and Company, Inc. Prepared a written report of opinions and provided deposition testimony regarding Large Deductible Workers’ Compensation insurance policies and the standard of care owed by an insurance producer.
Titan International, Inc., et al, v. George Becker, Ronald Bloom, et al, filed in the United States District Court for the Central District of Illinois, Springfield Division, Civil Action No. 00CV3257. Retained by plaintiff Titan. Prepared written reports of opinions, and provided deposition testimony, regarding Workers' Compensation insurance premium computation, commercial insurance markets, insurance underwriting, and experience modification factors for Workers' Compensation insurance.
Ohio Farmers Insurance Co. v. Ronald J. Hotler, Michael J. Miner, Harold Miner, Jean Miner, Miner Farms, and Betty J. Frimml, filed in the United States District Court for the Central District of Illinois, Urbana Division, Case No. 03-2138. Retained by defendant Miner. Prepared written report of opinions and testified at deposition regarding the standard of care owed by insurance agents, automobile liability insurance coverage provided by a Farm Insurance package policy, and Umbrella Liability insurance coverage.
Liberty Mutual Insurance v. American Asphalt Company, Inc., filed in Superior Court of New Jersey, Law Division, Camden County, Case CAM-L-3918-04. Retained by defendant American Asphalt. Prepared a written report and provided deposition testimony regarding proper Workers' Compensation classification, premium computation, and Davis-Bacon wage adjustments.
United States of America v. William E. Stratton, John J. Leahy, Edward Wisniewski, Starling Alexander, and Terrence Dolan, filed in the United States District Court For the Northern District of Illinois Eastern Division, Case No. 03 CR 0922. Retained by defendants Leahy and Wisniewski. Testified at trial regarding Workers' Compensation insurance premium computation, the Illinois Assigned Risk Plan, Experience Rating of Workers Compensation insurance, and the duties and responsibilities of insurance agents and brokers.
Continental Insurance Company v. CSJ Health System of Wichita, Inc. and Via Christi Health System, Inc., Civil Action No. 03-1200JTM, filed in the United States District Court for the District of Kansas Wichita Division. Retained by defendant CSJ Health System. Prepared a written report of opinions regarding Workers’ Compensation Retrospective Rating, and Workers’ Compensation insurance premium computation.
Liberty Mutual Insurance Company, et al. v. The Reserve Group Inc., et al , filed in United States District Court for the Northern District of Ohio, Case No. 5:03 CV 48. Retained by defendant Reserve Group. Prepared a written report of opinions and testified at deposition regarding Workers’ Compensation premium computation for Large Deductible policies.
Commerce & Industry Ins. Co. v. Dean Baldwin Painting, Inc. Case No. 2003-CA-005182-AI, filed in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida. Retained by defendant Dean Baldwin Painting, prepared a written report of opinions regarding Workers’ Compensation premium computation, classification rules, and experience modification factors.
Southern Cross Underwriters, Inc. and Southern Insurance Managers, Inc. v. Allegiance Insurance Managers, LTD. And Fireman’s Fund Insurance Company Filed in the United States District Court Southern District of Mississippi Jackson Division. Retained by defendant Firemans’ Fund Insurance Company, prepared a written report of opinions and testified at deposition regarding Workers’ Compensation insurance underwriting, marketing, premium computation, renewals, and insurance agents responsibilities.
T.T.C. Illinois, Inc. v. Insurance Brokers Management, Inc., Theodore E. Zogob, Smyth Sanford International, Wexford Underwriting Managers Inc., and Continental Casualty Company; filed in United States District Court, Central District of Illinois Case No. 01-2206. Retained by defendant Smyth Sanford International, prepared a written report of opinions and testified at deposition regarding Workers’ Compensation insurance coverage, availability, and the responsibilities of insurance brokers and agents.
Cecil L. Roff, et al v. Robert C. Gronwaldt, et al; Filed in the 60th District Court of Jefferson County, Texas. Retained by plaintiffs, prepared written report of opinions and testified at trial regarding Workers’ Compensation insurance coverage, rating plans, premium computation, fronting arrangements, and other aspects of large multi-state Workers’ Compensation programs.
Transportation Insurance Company, Continental Casualty Company and Transcontinental Technical Services, Inc. v. CHS/Community Health Systems, Inc., (f/k/a Community Health Systems, Inc.) Filed in United States District Court for the Southern District of Florida, Miami Division. Retained by defendant CHS, prepared written report of opinions regarding Workers’ Compensation rating plans, policies, and audits.
Alternative Distribution Systems, Inc. and Roll & Hold Warehousing & Distribution Corporation v. Gulf Insurance Company and Corporate Insurance Specialists Filed in Circuit Court of Cook County, Illinois, County Department, Law Division. Retained by plaintiff Alternative Distribution Systems, Inc. and provided deposition testimony regarding property and liability insurance coverage for warehouses and insurance agent standard of care owed to insured.
Edward J. Priz is the author of the book The Ultimate Guide to Workers Compensation Insurance, published by Entrepreneur Press in 2005. He is also the author of the book CompControl, publishedby Oasis Press in 1995 (ISBN 1-55571-355-6). An updated and revised edition of CompControl was published by Oasis Press in 2001.
Mr. Priz was also the author of the “Report on a Study of Small Employers and the South Carolina Second Injury Fund’s Impact on Workers’ Compensation Insurance Premiums”, commissioned by the South Carolina Small Business Chamber of Commerce, and published in 2006 on the internet at: http://www.scsbc.org/view_issue.asp?id=37.
Mr. Priz is also the author of the following articles:
An article on Entrepreneur.com, entitled “Workers’ Compensation 101”, published September, 2005, and available at: http://www.entrepreneur.com/article/0,4621,323142,00.html
An article in Illinois Business magazine, 4th Quarter 1996 issue, entitled “Taming Workers Compensation Costs”.
A Commentary in the DuPage Business Ledger, April 1995, entitled “Businesses Can Act Now to Cut Workers’ Comp Cost”
An article in Corporate Cashflow magazine, dated January, 1993, entitled “Miscalculated Premiums Cause Workers’ Comp Overcharges”.
An article in Talking To The Boss, October 1991, entitled “Workers Comp Insurance: Are You Overpaying?”
Mr. Priz is also the author of copyrighted material regarding Workers Compensation insurance on the internet at www.cutcomp.com.