August 2010

Suggestions on Workers Comp Posts Welcomed For This Blog

Workers Comp Posts And Blog Suggestions Workers Comp posts and blog suggestions are welcomed by J&L Insurance Consultants any time. We are fast approaching 600 posts since the inception of this blog. I have tried to vary the posts to cover all bases. I do realize that I have probably

Is Informal Retention Legal?

Term Of The Day – Informal Retention Informal Retention is a Workers Comp policy of sorts.  This type of retention is usually considered illegal except under exactly prescribed circumstances.  This type of Risk Financing Plan requires little planning. Since there are no records kept, cost is reduced. As the losses

Is A No Release Settlement A Good Idea?

Term Of The Day – No Release Settlement In the case of a minor claim or complaint, an immediate payment is made to the claimant. This payment is made to the claimant without requiring a signed release. Since it is very informal, a No Release Settlement maintains good will between the

Workers Comp and Expansion Into Other States 10 Things to Remember

Workers Comp and Expansion Into Other States The 10 things to remember in Workers Comp and Expansion into other states. After talking with a few premium auditors, adjusters, and from conversations with employers and our employer-clients, we have found a trend that needs to be pointed out to avoid a

What Is A Group Insurance Plan ?

 Term Of The Day – Group Insurance Plan A group insurance is an insurance that covers a defined group of people.A plan of group insurance that is procured for the benefit of more than one individual. This plan may pertain to an employer covering a number of individual employees, several

Workers Compensation Information For All 50 States – Quick Tip

Quick Tip For Workers Compensation Information Workers Compensation information sources are so plentiful that you may have information overload.  Fortunately, there is one website that can function as an index of sorts. One of the best websites that I have seen for Workers Compensation information is a very quiet provider

Scopes Manual – Where I Can Find It For Research?

Scopes Manual Definition The Scopes Manual is a guide to proper classification of employees published by NCCI. This manual details each employee classification code with a definition and a list of employees who fall under that specific code. The Scopes Manual includes NOC definitions as well as classification codes that

What Is An Injury Exacerbation ?

Term Of The Day – Exacerbation  The definition of the word is a worsening. Medically, exacerbation is the increase in severity or worsening of an illness or injury. Exacerbation can apply to the signs or symptoms of a condition as well as the injury or illness itself. ©J&L Risk Management Inc

Your Workers Comp Dec Page – Know It Or Pay More Premiums

Your Workers Comp Dec Page – Meat Of The Sandwich Your Workers Comp Dec Page – know it or pay more premiums (sometimes a large sum).   In my last post, I summarized the Workers Comp Declarations (Dec) Page. At a bare minimum, you should have the page memorized if

What Is A Prospective Plan for Workers Compensation?

Term Of The Day – Prospective Plan The Prospective Plan helps Workers Comp budget planning . A plan of insurance that outlines how projected future losses will be satisfied. There are many factors to consider. A good prospective plan should cover at least two years in the future. It should include

Workers Comp Declarations Dec Page – Not That Important?

Workers Comp Declarations Dec Page Is the Workers Comp Declarations Dec Page really that important? I have often been asked by our clients what to look at in a Workers Compensation policy. In other words, they receive a huge stack of documents known as their Workers Comp policy. The policy

What is An Independent Medical Exam (IME)?

Independent Medical Exam Extremely Important to Work Comp The Independent Medical Exam is one of the best after-the-fact risk management and loss reduction strategies available to claim departments.  term of the day. The term mean when an insurer requests an examination of a claimant by a doctor other than the

Is Popcorn Lung An Illness?

Term Of The Day – Popcorn Lung Popcorn Lung is a very rare disease that affects some workers in popcorn factories. Diacetyl is the chemical that produces popcorn’s buttery smell. Exposure to diacetyl may result in permanent destruction of the air sacs in the lungs of these factory workers. ©J&L Risk

Health Insurance Feds Give $46 Million To Police Rates

Will Workers Comp Premiums Be Monitored Like Health Insurance Most Health insurance regulation always predates actions in Workers Comp.  I usually do not add in governmental press releases verbatim to the blog. This should be of concern to all in the Workers Comp arena. Substitute in Workers Compensation wherever you

Loss Reserves – Where Do I Find Them For My Workers Comp Claims?

Loss Reserves Are An Adjuster’s Forecast  Loss reserves are the the dollar amount set aside or reserved to completely cover the expected cost of a claim or claims under the workers comp policy issued by the insurance company. This determined amount is set aside as of the annual statement date.Loss

Can I Buy Reinsurance ?

Term Of The Day – Reinsurance When one insurer’s claims become too large to cover financially, they procure additional insurance from other insurers to help cover losses. Insurers will buy insurance from as many insurers as necessary to ensure financial stability. This additional insurance is renamed reinsurance.   ©J&L Risk Management

Popcorn Lung Lawsuit – Disabled Worker Awarded $30 Million

Popcorn Lung Lawsuit Costs Employer $30,000,000 A Popcorn Lung Lawsuit recently awarded the injured worker about $30 million. After reading several recent Workers Compensation publications, it has become apparent that Popcorn Lung is a real concern to factory workers. The connection between diacetyl and this lung condition was not discovered

Premium Audit Bills For Workers Comp – Calls and Emails Daily

WC Premium Audit Bills Always Generate Calls and Emails The workers comp premium audit bills cause us to receive calls and emails on a daily basis. We are always glad to hear from former and potential clients for our Workers Comp services. The most popular post and the #1 subject

Where Can I Find the Basic Manual ?

Term Of The Day – Basic Manual Basic Manual is compiled by NCCI, then approved by state insurance regulators. This manual includes the guidelines for premium calculation. To Those insurers who are providing coverage to an NCCI member state, these rules and guidelines are binding.   ©J&L Risk Management Inc

What Is An Advisory Organization?

Term Of The Day – Advisory Organization A new term by the National Association of Insurance Commissioners. It replaces the old “rating bureau” designation. Advisory Organizations (like NCCI) compile rating data and file the forms to be used by their insurer members.     ©J&L Risk Management Inc Copyright Notice

Alaska Workers Comp Slams High Priced Brand Name Drugs

Alaska Body Slams Non-Generic Drugs The State of Alaska body puts an end to the very expensive brand name drugs . My hat is off to Alaska’s Workers Compensation system. A bill was recently pass that REQUIRES generic drugs in all Workers Compensation cases. This very smart political move will

Is My Company In An Assigned Risk Plan ?

Term Of The Day – Assigned Risk Plan The Assigned Risk Plan is sometimes called the Assigned Risk Pool . The plan is designed for employers who cannot procure coverage from an insurer in the voluntary market. Normally, the rates are higher for those who are forced to obtain coverage under

Permanent Partial Disability – Is It A Workers Comp Benefit?

Permanent Partial Disability (PPD) – Important Benefit The permanent partial disability is completely separate from any reduced wage loss benefits such as TTD or TPD.  PPD is the partial or total loss, or loss of use of a part of the body. It is also used in the case of

Governator Says NO To WCIRB 30% Increase On Workers Comp Rates

Governator Says No To WCIRB 30% Increase The governator says no to WCIRB 30% increase in pure premium rates.   I was surprised to see this one. I understand that Governor Schwarzenegger has always been as pro-business as possible. I cannot remember when he has offered any input into a recommended

California’s WCIRB Recommends 30% Rate Increase

California’s WCIRB Says 30% Increase Appropriate  California’s WCIRB has recommended a 30% increase in Workers Comp pure premium rates. I was interviewed by The Insurance Journal on my opinion of the heavy increase and the possible effects. My response was that the 30% increase could have easily been 50%. Why?

When Is The Date Of Injury (DOI) On A Workers Comp Claim?

Determining Date Of Injury Very Important To E-Mod  The Date of Injury is found on first reports of injury and loss runs. It is the actual date of an employees injury. If the claim is a result of an occupational disease, it designates the date the employee became incapable of

South Carolina Work Comp Consultant Sentence Upcoming

South Carolina Work Comp Consultant Follow Up  This South Carolina Work Comp consultant article is for an answer to a web comment.  We had a few emails sent to us and one comment was left on what happened to the South Carolina Workers Comp consultant’s client in this post. In

What Is The Governing Class Code On My Policy?

Governing Class Code-Workers Comp Term The governing class code is the employers code that generates the most payroll. It is used to determine the type of business the insured is in. Miscellaneous employees will be coded under the governing class code as well.   ©J&L Risk Management Inc Copyright Notice

Is Manganism An Occupational Disease?

Term of The Day – Manganism Manganism is the disease that occurs from inhaling toxic manganese molecules that are released during the welding process. Similar to Parkinson’s Disease, it is sometimes called Welder’s Parkinson’s. However, research has determined that manganism is known to reduce the dopamine levels in the brain.

Where Is The Declarations Page (Dec Page) In A Work Comp Policy?

Declarations Page – Critical Workers Comp Term The Declarations Page is the first page of an employers Workers Compensation Policy.    The Workers Compensation industry term is Dec Page.  In fact the Dec Page is actually an insurance industry-wide term and not specific just to Workers Comp.  If your company’s

Is An Administrative Services Organization (ASO) A PEO?

Term Of The Day – Administrative Services Organization An Administrative Services Organization is similar to a PEO but with one distinct difference. An ASO only administers the plans already in place for an employer.The employer outsources payroll and tax calculation, for instance, but payment comes out of the employer’s accounts. An

Workers Comp Consultant or Any Type of Advisor – 10 Hiring Reminders

Hiring A Workers Comp Consultant – Reminders Hiring A workers comp consultant or actually any consultant generates quite a few questions.   The full list is here. I decided to split up the list into two posts. Does the consultant also sell the product? What licenses does the consultant possess?

Where Do I Find Professional Employer Organization (PEO)?

Professional Employer Organization-Workers Comp Term A Professional Employer Organization is an organization that, by signed contract, assumes all of the human resources duties of the contracting employer, effectively becoming the employer of record. A PEO provides and pays for all payroll and related taxes, insurances, safety and risk management programs.

SC Workers Comp Consultant – 10 Takeaways or Questions to Ask

SC Workers Comp Consultant – How To Avoid This Situation These are the 10 takeaways to ask SC Workers Comp Consultant.   This questions have been discussed in the Workers Comp community since the conviction of the South Carolina Workers Comp consultant.   There are a few concerns that any

Experience Period Operates From Past Few Policy Years

Experience Period Does Not Operate In The Present The Experience Period is the interval in which loss and exposure data is used to calculate the experience modification factor for an employer. In normal circumstances, the time period is 3 years and begins 4 years in the past. However, if the

South Carolina Workers Comp Consultant Convicted of Fraud -Updated

The South Carolina Workers Comp Consultant A South Carolina Workers Comp consultant was recently convicted of Fraud. Here are the facts: (Thanks to the Charleston Post Courier – a fine newspaper) Bob Kohn was a member of the state House of Representatives from North Charleston in 1990 when he became a

How Is Adjusted Manual Premium Calculated?

Adjusted Manual Premium-Workers Comp Term Adjusted Manual Premium is the result of schedule credits, premium credits, premium discounts, and/or expense constants being applied to Manual Premium.     ©J&L Risk Management Inc Copyright Notice

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