Workers Comp Loss Run Question From Texas
A Workers Comp Loss Run contains all the information on your claims.
The title of this article is a question that I received a week ago. It is one of the top twenty questions that we receive on Workers Comp.
I recommend at least monthly if the report is on paper. As I have said many times before, in the blog, one of the keys to controlling Workers Comp Costs is to have online access. If your company has a TPA process your claims or you have regular commercial insurance, you should be able to see your Workers Compensation files online. Monitoring the increases, closings, and decreases in your Workers Comp claim reserves will keep your company from having to wait for the monthly loss runs.
Usually, by the time you receive the loss run, quite a few days can pass. The delays can be very costly in certain situations. Check with your Workers Comp carrier to see if they provide online access to your claim files. If they do not, you should register your concerns with that carrier.
I had said earlier in a blog that it is worth paying an extra 20% on your premiums to have online access. If you happen to have to pay extra for online Workers Comp file access, then it is imperative that you use the online system to access your Workers Comp loss run.
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