What Is A Short Rate Penalty For Workers Comp Policies?
The Short Rate Penalty Can Be Significant A short rate penalty is applied by insurers when a Workers’ Compensation insurance policy is cancelled by the
April 29, 2011 No Comments
The Short Rate Penalty Can Be Significant A short rate penalty is applied by insurers when a Workers’ Compensation insurance policy is cancelled by the
Term Of The Day – Carve Out Workers Comp Carve Out tis a hybrid benefit package that applies to just the Workers Comp Policy. An
Workers Comp Medical Only Claims And Claims Festering(c) Certain Workers Comp Medical Only Claims snowball into uncontrolled Lost Time Claims for employers and carriers. My
Mid-policy Assessments and Endorsements We have received a larger than normal number of calls and emails on mid-policy assessments and/or endorsements. A mid-policy assessment or
Assigned Risk Adjustment Program – Term Of The Day The assigned risk adjustment program is an additional debit charge placed on Assigned Risk policies with
Declaration Of Readiness To Proceed -California Work Comp Form The Declaration Of Readiness to Proceed resolves disputes in California. Another of the forms required in
Term Of The Day – Application For Adjudication Of Claim The Application for Adjudication Of Claim is the primary Workers Comp appeal form in California. This
Term Of The Day – Associate in Reinsurance (ARe) The Associate in Reinsurance designation generates little discussion in the Workers Comp world. Without reinsurance some self
Residual Market – Critical Under The Radar Coverage In insurance industry they need residual market for Workers Comp.Companies or industries that are considered high risk
Compensable Claims Are State Specific An injury that meets the statutory qualification standard in a Workers Comp policy. It is the term used when an
Term Of The Day – Assumption Of Risk The Assumption of Risk term creates a lessening of liability in certain situations.. Workers Compensation usually does
Plain Language Laws Is a Misnomer Term The Plain language laws have failed at making insurance policies readable.Many insureds, including Workers Comp, complain vehemently that
Illinois House Debates Scrapping Workers Comp Program – What? If the Illinois House scraps the state’s Workers Compensation System, what will happen to the businesses
Term Of The Day – Associate In Premium Auditing APA or Associate in Premium Auditing is a professional designation awarded by the Insurance Institute of America
Term Of The Day – Vocational Rehabilitation Vocational rehabilitation can include a plethora of services that are offered to injured employees to help them return to
Greenbrier County Joins West Virginia Risk Pool Originally, the West Virginia Risk Pool was created to provide property and liability coverage to its counties all
The Very Worst Workers Comp Medical Only Claims Recently, I posted on the pitfalls of Workers Comp medical only claims. That article is here. The
Is Workers Comp Next For Federalization? The Federalization of malpractice makes one think that Workers Comp is the next step. Federal medical malpractice reform hit the
Term Of The Day – Extended Reporting Period The Extended Reporting Period never renews its provisions. This is from one of our claims made policies
Term Of The Day – Ultimate Loss The ultimate loss contains two basic definitions. In reinsurance, the unit of loss to which the reinsurance applies, as
Term Of The Day – Aggregate Excess Insurance This type of insurance is critical for Workers Comp self insureds. Even if a self insured has no
Term Of The Day – Cumulative Trauma An injury diagnosed by a physician as occurring without bodily injury being the direct cause of loss. Cumulative Trauma
Term Of The Day – Utilization Management The Utilization Management on a workers comp claim tends to save funds. However, as in California, the cost may
Medical Only Claims Festering (c) The term medical only claims festering was coined by me in the late 1980s. Most medical only claims are just
Workers’ Comp Debuts On Small Screen The small screen will host a Workers’ Comp series. I have often thought that, at times, Workers Comp is
E-Mod (Ex-Mod) Review Of Outstanding Reserves An E-Mod (Ex-Mod) review is something to leave to the experts. Usually, approximately one third of the Total
Term Of The Day – Planned Retention This is a risk financing term that refers to retention of losses by an organization or business as
Term Of The Day – Experience Account Experience Account refers to a provision in an insurance or reinsurance contract that, using some function of such policy
Payout Profile – Term Of The Day The payout profile or LDF are important to a company’s return on investment. This is becoming very important
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