Risk & Insurance Names Three CorVel Clients as Winners of 2023 Risk All-Star Awards

Partnership enhances risk management strategies and improves outcomes for Fairfax County, Virginia, Carhartt, and Lithia & Driveway

FORT WORTH, Texas, July 18, 2023 — CorVel Corporation (NASDAQ: CRVL), a national provider of risk management solutions, today announced that three of the company’s partners were named 2023 Risk All-Stars by Risk & Insurance, including risk leaders from Fairfax County, Virginia, Carhartt, and Lithia & Driveway. The award program recognizes emerging risks and mitigation strategies and highlights outstanding individuals responsible for managing risk or claims for their employers in a way that drives the industry forward.

Randy Jouben, Risk Manager for Fairfax County, Virginia, developed an “employee first” philosophy by implementing new resources for first responders, including onsite physical therapy, developing provider panels that focused on patient-centered care, initiating wellness checks to ensure claims were progressing, and establishing an integrated pharmacy program to track and monitor opioid usage.

Ashley Arvin, Safety Program Coordinator at Carhartt, one of America’s leading manufacturers of durable workwear and outdoor apparel, formed an ergonomic core team to manage workplace injuries caused by a shift in manufacturing models. The team utilized feedback provided by AI-driven VelocityEHS Ergonomics, based on video footage of employees performing their duties. They then used this information to modify workstations and counsel associates on how to avoid repetitive stress injuries.

Kara Sepulveda, Senior Corporate Risk Manager at Lithia & Driveway, one of America’s largest automotive retailers featuring most domestic and import franchises, partnered with CorVel Corporation to implement an RMIS system to identify risk and manage claims between corporate and various dealers. Utilizing CorVel’s CareMC Edge System, Lithia can now better manage first-party claims and financial information, providing more accurate data and faster outcomes on claims.

“We are proud to partner with these forward-thinking companies and celebrate their achievements in providing innovative ways to manage claims and deliver a higher level of care for their injured employees,” said CorVel President and CEO Michael Combs.

The Risk & Insurance All-Stars winners were announced in the July 2023 issue of Risk & Insurance® and are featured on their official website, in an eNewsletter, and in the digital edition of the magazine.

About CorVel

CorVel Corp. applies technology including artificial intelligence, machine learning and natural language processing to enhance the managing of episodes of care and the related health care costs. We partner with employers, third-party administrators, insurance companies and government agencies in managing workers’ compensation and health, auto and liability services. Our diverse suite of solutions combines our integrated technologies with a human touch. CorVel’s customized services, delivered locally, are backed by a national team to support clients as well as their customers and patients.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company, management’s beliefs, and certain assumptions made by the Company, and events beyond the Company’s control, all of which are subject to change. Such forward-looking statements include, but are not limited to, statements relating to the Company’s managed care services and the Company’s continued investment in these and other innovative technologies, and statements relating to the Company’s workers’ comp service offerings. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties, and assumptions that could cause the Company’s actual results to differ materially and adversely from those expressed in any forward-looking statement, including the risk that the impact of the COVID-19 pandemic on our business, results of operations and financial condition is greater than our initial assessment.

The risks and uncertainties referred to above include but are not limited to factors described in this press release and the Company’s filings with the Securities and Exchange Commission, including but not limited to “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 and the Company’s Quarterly Report on Form 10-Q for the quarters ended June 30, 2022, September 30, 2022, and December 31, 2022. The forward-looking statements in this press release speak only as of the date they are made. The Company undertakes no obligation to revise or update publicly any forward-looking statement for any reason.