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August 2009

Standard Exception Codes 8810 and 8742 – Important Classification Codes

Standard Exception Codes Revisited The main Standard Exception codes denote 8810 and 8742. We have received so many questions on these two class codes that I thought that I would post about them again. These NCCI (R) Class Codes are also used by the various state rating bureaus in the

Workers Comp Adjuster How To Contact on Reserves and Payments

Contacting Your Workers Comp Adjuster – A Few Quick Tips Your Workers Comp adjuster appreciates emails. Let us cover why adjusters prefer emails to phone calls, faxes, or letters. This is one area that we have received quite a few calls over the last few weeks. If you as an

Workers Comp Adjuster – Suggestions For Working Relationship

Workers Comp Adjuster Communication Always Saves Premiums and Budgets Communication with your Workers Comp Adjuster. I have posted on this subject a few times in this blog. As I mentioned in the last post, your Workers Compensation adjuster is very important to your overall insurance budget. The following are a

How Are Your Workers Compensation Premiums Calculated

How Are WC Premiums Calculated? How are your WC premiums calculated?   Your premiums are calculated from a formula that has no less than 34 steps to it. Let’s first look at what is the driving force behind what you pay in Work Comp premiums. The reserves, better known as total

Workers Comp Reserves – Large Reader Response

Workers Comp Reserves – The Skinny  An article this week on Workers Comp reserves generated a huge response. I was going to post on Class Codes 8810 and 8742. This blog had the largest one day total of visitors ever earlier this week. I will cover more material on reserving

NCCI Class Code Premium Audit Questions – Match Code to Job

NCCI Class Code Can Be Complex I have received a large number of questions on NCCI class code over the last month. I seem to receive the most about how to correctly match a company’s jobs to the class codes they have been assigned at the inception of the policy

Over-reserving Workers Comp Claims – How To Tell

Over-reserving on WC Claims WC claims Over-reserving analyses are difficult.I usually try to post every two days. I have not posted for four days as this area was too complicated to fit into one post. The bottom line is that it is very difficult if not impossible to identify reserves

Workers Compensation Loss Run Most Important Information

Workers Compensation Loss Run Information Critical The Workers Compensation Loss Run contains very important information. I have posted almost ten times concerning online claims access. If your company is unable to have online access to your claims, at least the loss run will contain some very pertinent information. If any

Automated Workers Compensation Reserves Concerns

Automated Workers Compensation Reserves Area Of Concern The Automated Workers Compensation reserves by carriers and TPA’s cause me much concern. Automated reserving is an area of Workers Compensation reserving with certain insurance carriers or TPA that causes me great concern. I have actually been told more than once by a

Workers Compensation Bill Review Charges Can Be Expensive

Insurance Company and TPA Workers Compensation Bill Review Charges Workers Compensation bill review fees  can be exorbitant.  The fees an employer’s TPA or insurance company charge for bill review have always been one of my sore spots when we do reserve and/or claims handling reviews for employers. This is an

Travel and Expense Charges to Reserves (T&E) – Area To Check On

Travel and Expense Charges to Reserves – Controversial Subject Travel and expense charges to reserves creates many questions on how to handle these in the files. There is one set of charges to reserves that employers should be aware of whether self-insured or not. Travel and Expense charges should always

Workers Compensation Expense Reserves Are Often Ignored

Expense Reserves vs. Medical Reserves The third and final reserve figures are the Expense Reserves. These reserves have caused quite a large amount of confusion ever since I started my career in Workers Compensation. The confusion always centered on what should be included in the Expense Reserves vs. Medical Reserves.

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