April 2009

Why Are Loss Runs Needed As Part Of Your Workers Comp Audits?

Loss Runs – Important Part Of Claim and Premium Audits We receive questions on loss runs often when we are obtaining the materials that we need to do the Workers Comp premium audits/reviews for employers. We also like to go more in-depth than the insurance company’s auditor. The reason that

Workers Compensation Program – Main Mistake Causes It Harm

What One Mistake Would Harm Our Workers Compensation Program? What would cause the most harm to our Workers Compensation program?  I received this question last week. This is one of the unasked questions that are always a concern of most employers. When we examine Workers Compensation insurance policies for employers,

What I Noticed At RIMS Conference In Orlando Florida

Orlando FL RIMS Conference 2009 I traveled to Orlando FL this week for the Risk and Insurance Management Society (RIMS) conference. There were a few things that I noticed in the one day that I had time to attend the conference and all of the activities. Overall, I saw no reductions

Great Workers Comp Move For Employers By Colorado Governor

Colorado Governor’s Great Workers Comp Move A great Workers Comp move was made in Colorado recently by the Governor. Senate Bill 37 is a measure that begins the process of slowly eliminating a surcharge that Colorado businesses pay on workers compensation premiums. SB 37 was unanimously approved by a House

Workers Compensation Audits – How Many Is Carrier Allowed Per Year?

Workers Compensation Audits Rules We received this question recently from a manufacturer in California.  The number of Workers Compensation audits that can be performed by a carrier should only occur once per policy year.  The Workers Comp policy that you have received from the carrier should have all the Workers Comp

Workers Compensation Loss Runs Are Best Online

Workers Compensation Loss Runs  – Online Access Is Best Workers Compensation loss runs online claims access insures your company will have the easiest way to retrieve your Workers Compensation claims information. I have posted very often on Workers Compensation claims loss runs.  Why? Whether your company has a regular Workers

If AIG Crashed, Would Rest Of Insurance Market Fail?

AIG Crash Effect on Insurance Market If AIG  crashed would it result in insurance market failure? An interesting article was published recently in P&C – National Underwriter.  It was a shocker. The American Insurance Association and Property Casualty Insurers Association of America (PCI) argued their point to Congress.   Their conclusion

What Can We Do To Lower Our E-Mod?

Lower Our E-Mod Or X-Mod How can we lower our E-Mod? This is a question I received from one of the blog readers after I posted the Workers Comp E-Mod or X-Mod Factor formula earlier this week. This will fit well into the post that I was going to do

TPAs Under Pressure Due To Recession’s Effect on Claim Numbers

Third-Party Administrators (TPAs) Feel Recession Pinch Should TPAs handle more with less? In our claims reviews for employers, we have noticed an interesting scenario developing recently. One area that many insurance personnel and analysts overlook is the increased internal pressure on a TPA’s claims staff.  In a recession, the number of

Experience Mod Equation Looks Complicated – Is it?

The Experience Mod Equation Revealed The Experience Mod equation – does it look complicated? I  have been asked often how the Workers  Compensation E-Mod/X-Mod is calculated.  I am also usually asked why a certain company’s E-Mod increased so dramatically.   The E-Mod individualizes a company’s risk to that company.  

This Is Not The Way Workers Compensation Is Supposed To Operate

The Way Workers Compensation Operates in Maryland – Updated  It is the way Workers Compensation should work? I could hardly believe my eyes when I read that the Maryland State Senate had passed a bill that will establish a unit with the State Department of Labor allowing labor inspectors to

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