April 2008

Workers Comp Policy Mistakes – Which Employers Have More?

Workers Comp Policy Mistakes Occur More In These Employers Workers Comp policy mistakes can be very expensive for employers no matter the source of the errors. What types of employers have the most Workers Comp policy mistakes? We used to have an exhaustive list of employers that listed all of the

Is A Payroll Audit Dispute Worth Your Company’s Time And Effort?

Payroll Audit Dispute And NCCI Is a Payroll Audit Dispute worth our time?  How long do we have to dispute the premium audit results that we just received?  Should we call in NCCI to do an inspection? We have often seen where the insurance carrier tells the employer that they

J&L Premium Review Services – California Reader Question

California Reader Question – Can J&L Premium Review Services Work Here? A California reader had a great question.  Is California a tougher state than other states for  J&L premium review services? We have heard this question often over the past five years. Fortunately, we have aided employers in recovering premiums

Oklahoma Manufacturers Association’s Big Mistake

Oklahoma Manufacturers Association A few days ago I had posted about the Oklahoma Manufacturers Association wanting to establish a self-insurance pool for Workers Compensation. They have done well with a health insurance pool and wanted to try to do the same with Workers Comp. Workers Comp requires a large pool

How JL Risk Management Consultants Is Different Than Our Competitors

The Most Popular Question  on JL Risk Management Consultants Services The most popular question JL Risk Management Consultants receives is how are we different than our competitors. Before we go on to the OK analysis of the Compsource bill, I thought it was best to answer the most popular question

Oklahoma Insurance Bill Allow CompSource to Cover Out of State Risks

Oklahoma Insurance Bill Would Change CompSource A new Oklahoma insurance bill is dangerous to Workers Comp.   Oklahoma is near and dear to my heart, as it is my home state. There are many problems with this bill that is not understood by the Oklahoma house. This could be an

Law of Large Numbers – Article on Self Insured Group Failure

Workers Comp Law of Large Numbers Causes SIG Failure  This is a great article on Workers Comp Law of Large Numbers.  The law of large numbers means that risk has to be spread amongst a large number of policies, claims, payroll, etc.  When the spread becomes too small a small concentration

Most Workers Comp Bill Review Overcharges Need To Be Examined

Workers Comp Bill Review Charges Workers Comp bill review can be a very important risk management technique.  One of the most controversial areas in Workers Comp from what we have observed is when the carrier or TPA charges an employer to do their Workers Comp bill review. We have seen overcharging

Workers Comp Cost Savings For Your Company From Control

Workers Comp Cost Savings = Employer Control How does the Workers Comp cost savings comes from  employer control ?  I have covered the ways that almost any employer can apply some of the techniques used by fully self insured employers to control Workers Comp costs. We started with what the

Cutting Workers Comp Costs – Self Insured Misnomer

Cutting Workers Comp Costs Even If You Have TPA Cutting Workers Comp Costs can be easily misunderstood in certain areas by almost everyone.  Over the past fifteen years, we have analyzed many Self Insureds with a TPA that is paid on a flat fee basis. The Self Insureds have told

Fully Self-Insured Is Not Same As Large Deductible Program

Workers Comp Like a Fully Self-Insured Part III Are you fully self-insured in a large deductible program?  Let us look at the mechanics of having a deductible.  Large Deductible Programs We have received many emails and calls from employers with Large Deductible programs. The number of clients we have with Large

Workers Comp Insurance Pools Like Fully Self-Insured Programs

Workers Comp Insurance Pools  – Acting Like A Fully Self-Insured Workers Comp Insurance Pools were a great way to save on premiums in the past. Homogeneous employers were grouped together into risk pools and each member of the pool paid their share of the Workers Comp total costs. The Insurance

Small Companies Can Operate Like Self-Insured

Workers Comp Small Companies Strategy Small Companies Can Operate Like A Self-Insured (in a way) – From the last post we are going to start with the smallest companies and work our way up to the largest. The theme is saving money by operating like a Workers Comp fully self

Workers Comp Costs – Easiest Way To Control Act Like Self Insured

Cutting Workers Comp Costs Like A Self Insured Controlling Workers Comp Costs is very important to an employer’s budget.  In one word – a word which has already been used in the last sentence – CONTROL. The more control that your company has over the way that your Workers Compensation

More on West Virginia Conference From Last Article

West Virginia Conference – More Thoughts The West Virginia Conference article  from 4/08/08 (continued.) Outside of the Mandolidis decision, I thought that the insurance carriers were very positive about writing Workers Comp coverage in West Virginia. I was interviewed by the Charleston Daily Mail, which is the local newspaper for

Mandolodis Decision and West Virginia Workers Comp Conference

The Mandolodis Decision Part II The Mandolodis decision was discussed heavily at  West Virginia Workers Comp Conference. On 04/08/08 I attended the West Virginia Workers Comp Conference. The Conference is a prelude to the open market for Workers Comp in WV as of 7/1/08. The Mandolodis decision discussion became very

Consent to Consented – Definition – Premium Requires Insured Signature

Consent to Consented Premiums Consented premium allows the insurance carrier to deviate from their state filings for a certain Workers Comp Class Code. This is a popular way to write policies in the state of Florida. A carrier supplied factor is added to the filed rates. The “consent” is given

Blog Producer Error

Blog Producer Software To our blog readers – our blog producer software had a slight error which has now been fixed. We will soon have a place for our readers to sign up to have our Workers Comp daily blog emailed to them.    We are trying to upgrade everything

Workers Compensation Reserves- Silent Budget Killer

Workers Compensation Reserves – The Ever-Silent Budget Killer Workers Compensation reserves can be critical when trying to lower your company’s premiums.  The silent budget killer for most company’s Workers comp program revolves around the claim reserves. I have posted very often about the process for calculating Workers Comp premiums. The

Total Incurred Definition – Basic But Important Workers Comp Term

Total Incurred Definition Has Two Variables The Total Incurred definition is the funds that have already been paid out + the Reserves on the file. The E-Mod is calculated using Total Incurred as one of the main items. The Paid part can rarely be adjusted. The Reserves, however, can be

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