What was the amount of claims paid during 2021 by Management Recruiters?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
workers' compensation insurance premium liability for workers' compensation claims in these jurisdictions.
The following table reflects the changes in our workers' compensation claims liability:
| December 31, | December 31, | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| Estimated future claims liabilities at the beginning of the period | $ 8,249 | $ | 4,584 | |
| Claims paid during the period | (3,9 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, the claims paid during the period of 2021 were $5,027 thousand. This figure represents the actual payments made by Management Recruiters related to workers' compensation claims during that year.
Understanding the amount of claims paid is crucial for prospective franchisees as it reflects the company's financial responsibility related to worker's compensation. It also provides insight into the effectiveness of Management Recruiters' risk management and safety programs. Lower claims paid could indicate successful risk mitigation, while higher amounts might suggest potential areas of concern.
This data point is part of a broader set of financial information that helps franchisees assess the financial stability and risk profile of Management Recruiters. Reviewing these figures in conjunction with other financial metrics can offer a more comprehensive understanding of the company's financial health.