September 2008

Small Workers Comp Claim Does Not Exist – Risk Is Risk

A Small Workers Comp Claim Is Still Expensive The term small workers comp claim is such a nefarious item.   I have heard that term often over the past 27 years.  The term should be a smaller part of the risk of a larger loss.   Please note this is an older post

Payroll Audit Notice Received In The Mail – What Do We Do Now?

Workers Comp Payroll Audit Notice Very Important My company has received a Payroll Audit notice.  This is one of the most popular questions that we receive about the Workers Compensation premium process. A workers comp payroll auditor contacting a company can make for a stressful situation. From what I have

Insurance Company Auditor Workers Comp Financial Record Access

Workers Comp Insurance Company Auditor Financial Records Access Should an insurance company auditor access my financial records?  This was a question from one of our blog readers. We have seen this situation a few times when we audit workers comp reserves or premiums for employers. It is never a good

What Is Difference Between IRS Audit and Workers Comp Audit

IRS Audit and a Workers Comp Audit – Comparison Many similarities exist between an IRS  audit and a WC audit. I was actually asked a very similar question at one of my last presentations. I had originally thought there were no similarities between the two. Once I thought it over,

AIG Failure Would Have An Effect On My Workers Comp Policy?

AIG Failure Effect On My Workers Comp Policy If you are covered for Workers Comp by AIG, there will still be coverages for your company even if they were to completely fail. Each state has a guaranty fund that will keep the claims payments in place. Those payments may be

Workers Comp Market Affected By Economy

Workers Comp Market – Hardening? How Will The Economy Affect The Workers Comp Market? This is one of my most debated topics lately. The opinion that I have is not very popular. I do not believe that there are any internal dynamics to the market becoming soft or hard. As

Premium Audit Bills – Insured Cannot Afford Unexpected Increase

Workers Comp Question About Premium Audit Bills An article reader recently emailed a question on the premium audit bills. When we were named “One of the Top 25 Blogs on Workers Compensation” last week, our blog has increased in popularity dramatically. The #1 Question that we have received from our

Retro Policies and Lookback Period Blog Reader Question

Retro Policies Blog Readers Question A Great Retro Policies Question From One of Our Blog Readers – My company has a 5-year Retro Policy. For 3 years of our Workers Comp policy, the rates seemed reasonable. Now, our premiums have skyrocketed. How could this have happened when the premiums were

Self Insured File Reserve Reviews Important Part of Budget Process

Self Insured File Reserves Need To Be Monitored Reserve reviews for Self insured Files are just as important as ones for companies in the regular voluntary insurance marketplace. We often hear from Self Insureds that the reserves on a file do not matter that much, as it is paid funds

LexisNexis Awards Cutcompcosts Top 25 Workers Comp Blogs 2008

LexisNexis Awards Cutcompcosts.com Blog  We were just informed by LexisNexis Workers Compensation Law Center that we were named one of the Top 25 Blogs for Workers Compensation. J&L has worked tirelessly to conduct a blog that was informative to all parties in the Workers Comp arena. According to LexisNexis: “The

Doing Bill File Review Can Be Costly Without Planning

Workers Comp Bill File Review – File Selection Critical To Success A Workers Comp Bill File Review can cost you more $ than expected.   Our clients often ask us if a meeting with the Workers Comp claims adjuster on all files is a good idea.     As I

One Thing Not To Do With File Reserves on Loss Runs

One Thing Not To Do On Your File Reserves Working in a Claims Dept for many years, I had seen one thing that would totally backfire on an employer that had questions on their Workers Comp file reserves. If you have established a working relationship with your Workers Comp claims

Big Workers Comp Gamble From a Claims Loss Run

Workers Comp Gamble On Your Insurance Premiums Does Workers Comp gamble their insurance premiums? A question from one of our blog readers – I received my Workers Comp policy run. How do I review the loss runs? If I find something that I disagree with on the loss runs, what

There Is No Such Thing As Small Claim – Part II – Math

A Small Claim Can Be Very Expensive Per Unit Please see my post from September 27th on small claim. This is part two of that post. In the 9/27/08 post, I had pointed out that the first $5,000 of the Total Incurred of a Workers Comp claim can cost up

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