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March 2008

Subrogation – Under The Radar in Workers Comp Claim Reviews

Subrogation Not On Radar Screens In Work Comp Files The topic of subrogation is one of the most misunderstood areas in insurance, and especially Workers Compensation, that we see costing insureds millions of dollars a year. Subrogation: Prevents the insured from collecting loss payments from his or her own insurer

File Premium Reserve Reviews – Differences

Workers Comp File Premium Reserve Reviews Yes, they are all different.  Workers Comp file premium reserve reviews are three very different reviews that we perform for employers I have posted on this issue more than a few times. This is most of what we do for a business. I felt

Wyoming Workers Comp State Fund Huge Surplus – An Analysis

Wyoming Workers Comp State Fund Banking Funds While we are on the topic of State Fund, Wyoming  Workers Comp State Fund has been in quite a few online Workers Compensation publications with their huge surplus. Basically, the two basic questions that are being asked are: What do they do with

North Dakota WSI RFP Conundrum Blog Readers Questions

North Dakota WSI RFP and Results Conundrum The North Dakota WSI RFP conundrum was revisited again due to the response from my last article. Update – if our website looks a little in disarray, it is because our website provider’s server crashed. When they ran the backup, it was a

North Dakota Workers Compensation Conundrum Getting Worse

Workers Compensation Conundrum in the Peace Garden State North Dakota has a Workers Compensation Conundrum.  One of my prior posts addressed some of the problems with North Dakota‘s Workers Comp system. I think there now may be a problem larger than the ones they tried to fix with multiple audits

Another Premiums Question From One of Our Blog Readers

Our Blog Readers Questions on Premiums We received a few questions from our article readers on Workers Comp premium. What is the one thing that I can do to quickly reduce my Workers Comp premiums? I wish there was a quick-fix for paying less Workers Compensation premiums. There is a one-year

Assigned Risk Pool- Is it Too Costly For My Company?

The Assigned Risk Pool – Very Expensive Insurance My Company is in the Assigned Risk Pool.  Are we paying that much extra, and if we are, how do we get out of it ASAP? We currently have quite a few employer clients that have asked for us to help get

Most Expensive Component of All Workers Comp Claims

Most Expensive Component on Claims The most expensive Workers Comp claim component seems to be premium-based.  This is one that surprises most people. When I ask this question at presentations, the answer is usually the medical cost of the claim, or pharmaceuticals, or even settlements. The most expensive part of a

Monopolistic Workers Comp States Examined Further

Monopolistic Workers Comp State Funds – Six Remaining Does the monopolistic Workers Comp state funds show any problems?  As of today, there still six states that have monopolistic state funds – They are North Dakota, Ohio, Washington, West Virginia, and Wyoming. West Virginia is still in a monopolistic condition as

State Run Workers Comp Programs All Have One Main Problem

Monopolistic State Run Workers Comp Programs State run Workers Comp programs have experienced many problems. The usual State Fund lacks a major component.  Workers Comp used to be a very simple process where benefits were paid, forms were filed, and everything was copasetic. My, how those times have changed. Workers

Many State Run Workers Compensation Programs Have Faced Problems

Problems  Faced By State Run Workers Compensation Systems The problems experienced by state run workers compensation systems have increased lately. There are many challenges that are faced by state-run Workers Compensation programs. The ones that are most prevalent as of now are: Solvency – Many state funds have had to

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