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Monopolistic States Correction Removes Nevada From List

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Monopolistic States Number Correction Removes Nevada

I had posted incorrectly earlier on monopolistic states.

Picture of man hand holding Monopolistic States Fund Graphic
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I posted a blog a few months ago that indicated there were six Workers Compensation Monopolistic states. At the time, I had included Nevada. Nevada had already become an open market system. That would leave five in total.

A monopolistic state for Workers Compensation does not allow any insurance carriers to cover the employers in their respective states. The Workers Comp claims are handled by a state agency or a quasi-state agency.

West Virginia became an open market state as of 7/1/08. The removal of West Virginia leaves the count at four. They are:

  • Ohio
  • Wyoming
  • North Dakota
  • Washington

As I mentioned in a few earlier posts, North Dakota and Ohio both had severe problems with their monopolistic funds.

The likelihood that any of the remaining four monopolistic states will switch to an open competitive marketplace is, in my opinion, very low.   That is regardless of whether these four states are actually helping their employers or not.

Thanks to a Chartered Property Casualty Underwriting Designee (CPCU) from Missouri for pointing out my error.   I received an email from her correcting my previous article.

Also Read: Monopolistic Workers Comp States Examined Further

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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