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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 on the one day that I had time to attend the conference and all of the activities.

Graphic of RIMS Infographic

Overall, I saw no reductions in the opulence of the snazzy booths by the vendors. I think that the larger companies have cut back by not attending smaller conferences. There was no economizing at this conference. Why would there be though, if the vendors were allowed an opportunity to talk to thousands of risk managers at one place at one time? I would have gone all out, too.

AIG had a vendor booth under the name AIU. Most of the risk managers that attended had commented on AIG which I had posted often about in the past. The insurance sector of AIG was not failing. It was the financial products section of AIG that failed so miserably that they took down the insurance services section with it.

One of the other topics that the risk managers were discussing was the overall contraction of the Workers Comp premiums due to the shrinkage of their respective companies. They were expecting that premiums would decrease. That may not necessarily be true as the complexity of the medical costs of claims has increased and has offset the diminishing payrolls. This offset will show up in the E-Mod as it will increase and offset the smaller payrolls. I stressed to every Risk Manager that I spoke with that Workers Comp has a somewhat delayed cycle of charging premiums. What is happening now will show up in their premiums for the next three or four years.

Graphic of RIMS Arrow Rate and Magnifying Glass

With diminishing payrolls, the ELR or Expected Loss Ratio will adjust down. This will also have an offsetting role in the E-Mod. Companies with fewer payrolls are expected to have fewer claims. This is not a one-for-one calculation as the ELR will decrease more rapidly than the payrolls. As with most costs, the smaller companies pay substantially more per unit of coverage than larger companies. That is the way the Workers Comp premiums system is constructed.

There are quite a few articles on this blog about cost savings on Workers Comp. It may be worth using the search box to see how to reduce claims dollars and other ways to save $ on premiums.

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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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