What was the amount of claims paid during the period for Management Recruiters in the second period shown in the table?
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 ending December 31, 2022, were $(3,936). This figure represents the amount Management Recruiters paid out for workers' compensation claims during that specific period.
For a prospective Management Recruiters franchisee, understanding these figures is crucial as it reflects the company's financial management of workers' compensation liabilities. The claims paid during the period are directly related to the risk management and safety protocols implemented across the franchise network. Lower claims paid could indicate effective risk management, while higher amounts might suggest areas needing improvement.
It's important to note that these figures are part of a broader financial picture. Franchisees should consider these numbers in conjunction with other financial metrics, such as the estimated future claims liabilities and any additional liabilities recorded during the period, to get a comprehensive understanding of Management Recruiters' financial health and risk exposure related to workers' compensation.