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December 2009

Structured Settlements Still Used In Workers’ Comp Today

Structured Settlements Clients Self-Insured Workers Compensation structured settlements has been a hot topic in the past.  In talking with our self-insured clients, we have been reminded that we should produce a few more articles that pertain to the challenges of the self-insured arena.   We have been engaged in various

Workers Comp Renewal – Five Ways To Harm Your Insurance Program

A Workers Comp Renewal On January 1 Is A Crowded Road A Workers Comp renewal on January 1 creates five ways (or more) to harm your WC program.  In my many years working for insurance companies and TPA’s, I have found that employers and their agents start to rush everything

Workers Comp + Tennessee Legislature = Small Biz Doom

Tennessee Legislature Workers Comp Mistake A highly controversial piece of legislation just went into effect due to the Tennessee Legislature’s severe error. The error was due to the state trying to over-regulate the Workers Compensation insurance industry. On January 1, 2010 the small business people of Tennessee will bear the

Workers Compensation Insurance Policy Mistakes – Top 30

Top 30 Insurance Policy Mistakes These are the list of insurance policy mistakes from rating bureau. I have often heard this phrase from employers “As far as we know, our insurance carriers are reporting everything to NCCI or our State Rating Bureau accurately.” I decided to check and see if insurance

Risk Management Process Basics

The Risk Management Process I decided to take a step back and look at the forest and not the trees in this and some of the next blog posts. The Risk Management Process may look basic, but not following the natural flow can cause an enormous financial burden to small and

Federal Insurance Office Is Voted Into Existence By Congress

Federal Insurance Office (FIO) Voted Into Existence A Federal Insurance Office was voted into existence by Congress.  The House recently passed the Wall Street Reform and Consumer Protection Act of 2009. The legislation is a great move overall to protect consumerism in the US. The part of the bill that

NCCI State Advisory Symposiums Are Time Well Spent

NCCI State Advisory Symposiums NCCI conference state advisory are worth attending. The National Council on Compensation Insurance (NCCI(r)) provides meetings in most of the states every year where they provide rating information. I am not putting in a plug. I rarely recommend service providers or their services. These conferences are

Monopolistic North Dakota Third Look At Its Workers Comp Program

Monopolistic North Dakota Audits WSI Thrice I used to post often about the plight of monopolistic North Dakota Workforce Safety and Insurance (WSI). The WSI is responsible for the administration of North Dakota’s Workers Comp program. The WSI has had many trials and tribulations as one of the last remaining monopolistic

Sole Proprietor Covers Workers Compensation For 20 Employees – What?

Sole Proprietor Covers 20 Employees Without Realizing It  Workers Comp sole proprietor covers 20 employees that are not their employees..  I am sorry that I skipped doing an article to finish up the Ladder of Insurance(c). The Federalization of Workers Comp surfaced again. I always want to post on that

Federal Control of Workers Comp Takes Another Step With New FIO

Another Step In Federal Control Of Workers Comp Workers Comp Federal Control takes another step. Recently, a bill was passed by the House that establishes a Federal Insurance Office (FIO) for international insurance transactions. As I had predicted numerous times in the last few months, the insurance – and in

Opting Out Can Be Subcontractor Conundrum With Ghost Policy

Opting Out of WC Coverage Using Ghost Policies  A subcontractor opting out of workers comp coverage can be tricky to say the least.  I received a great question on my post about certificates of insurance and subcontractors. What happens if a main contract or is a sole proprietor and does

Ladder of Workers Compensation Insurance = Bankrupt Contractors

Ladder Of Workers Compensation  Insurance Warning For Contractors The Ladder of Workers Compensation insurance can wreak havoc on a Contractor’s policy. I had originally written on this subject within the last year. As I have recently covered subcontractors, I thought this would be a good time to cover the Ladder

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