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Where were we!

Join Preston D. Williams, Director of MASI, as he shares captivating war stories and valuable lessons in self-insurance. Discover the evolution of the industry, the importance of compliance, and the impact on workplace safety. Don't miss out on this enlightening journey!

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Where were we!

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  1. Where were we! Preston D. Williams Director – Self Insurance MASI – August 29, 2019 Picture right – somewhere in the 70’s!!

  2. It was the 1970’s • First job was at Gulf States Mfg.; Starkville MS • The Aetna… The largest diversified financial Institution in the WORLD! • The CEO made $500,000 in 1977, I made $10,000, as an insurance auditor. • Several interesting audits, a company store, lower OT, and the RESTROOM! • All of my bosses were WWII vets! They wanted us to succeed. Their pensions were dependent on it, but mainly they just wanted to see people grow and prosper. • Mr. Irby and the controller

  3. We have come a long way • The like compensation for the CEO of what was the Aetna is now $20 million annually. Based on 20 million today or 40 times the ‘77 comp. • My compensation as a starting auditor would be $400,000 (40x10,000) Not Happening!!! • Stock holder equity – as a driving force- Lilienthal explains leaving MS. • Last week 181 CEOs signed a round table agreement. • ST Paul and USG&G started in the 1800’s to give people meaningful employment and opportunity. Full Circle? • Either way, you must be profitable.

  4. Changes are coming; NO they are here!! • NCCI announced that the combined was .83% last year. YOU have to go back to the 1930s to see profits like that. • Overall, the normal expenses have dropped from 32% of a dollar to 26%. Happened by focusing on everything! • Morgan and Morgan, don’t be stupid • Emphasis on back to work, back to health, No injury in the first place. – The poor will be with us………..

  5. What’s next? Excerpts from MASI!!!! • Enforcement of procedures. Lesson from Katrina. • Modified Duty. Not staying home. Even Walt Disney knows! • Getting sued for improper/no loss control. • Hiring practices. • Everybody needs a refresher. • Wake up and be a manager. Middle management – not just to be silenced! • Workplace free from harm. • Everyone in MS has guns.

  6. Never happen in Mississippi • Oh yes, salaries will go up, as they do employees become more valuable. • New Mfg. jobs, and many technical jobs require more education/training. Experience makes the worker more valuable. • And what is the worth of Mississippi’s Individual Self Insurer’s? • OVER $642,625,228,254

  7. MASI- A VOICE OF ONE; WITH LOTS OF MONEY IN TOW!!

  8. War stories?

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