McNeary Ranks Among Country's Oldest Risk Consultants

CHARLOTTE, NC - McNeary is among the oldest risk consultants in the country and one of the largest consulting companies in the Southeast.

Founded in 1956, McNeary is one of a handful of companies nationally in risk management consulting for four decades. Among nearly 300 companies listed in the Business Insurance Directory of Risk Management Consultants, fewer than 30 have been in business longer than McNeary. In addition to its Charlotte headquarters, McNeary also has offices in Atlanta, GA, Baton Rouge, LA, Orlando, FL, and Richmond, VA.

McNeary consults in risk management, manages insurance programs for hospitals and professional organizations and consults in the area of employee benefits, excluding retirement plans. McNeary has provided out-sourcing services for property and casualty exposure since it was founded, and for employee benefits, since 1967.

The company's areas of specialization include risk and insurance consulting, captive insurance companies, self insurance reviews and healthcare insurance management. "We provide assurance of the best coverage, objectivity, value and solutions to save clients time, energy and money," said William D. Yaeger, CPCU, ARM, President.

"To assure that we continue to offer our clients the best in our field, we have implemented Business Improvement Process Teams with the purpose of ensuring quality of service through improved processes. We have made investments in hardware, software and support personnel to increase efficiency and improve communications," he added.

McNeary has more than 300 clients throughout the Southeast, including hospitals, financial institutions, manufacturers, governmental entities, contractors, professional and trade associations, law firms and textile firms.

"We don't guarantee savings to our clients, but we very often save them money," Yaeger said. "We cost effectively manage our clients' insurance programs. We correct erroneous bills from insurers, uncover claim and rate errors, negotiate property and casualty and group insurance renewals, initiate and review competitive bidding, and design insurance programs."

Yaeger said McNeary has been documenting savings since 1976, and since that time has saved its clients more than $174 million. In the last five years alone, McNeary has saved its clients more than $71 million, including:

$33.7 million through group insurance renewal negotiations and competitive bidding,
$34.4 million through property/casualty renewal negotiations and competitive bidding,
$3.6 million through correcting billing, claim and rating errors.

"We're able to save clients money because we keep abreast of trends, and design programs to provide for the self-assumption of risk," Yaeger said.

McNeary's risk management and employee benefits divisions are not insurance brokers. McNeary works with brokers, agents, direct writers and self-insured markets to provide advice and counsel to clients. Yaeger pointed out the company's consulting revenues are derived strictly from client fees, "so we're able to provide an impartial point of view."

"Our mission is to help our clients achieve cost-effective protection of their resources by delivering professional risk management, insurance and employee benefits services," Yaeger said. "Managing risk properly is crucial for an organization's continued success and profitability."