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Very Important Upcoming Date For January 1 Policies


Important Upcoming Date For January 1 Policies Renewal

Over the last few months, I have been covering a plan on how to reduce E-Mods. The important upcoming date for January 1 renewals is your Unit Stat date. The Total Incurred (Paid + Reserves) is tallied six months after your policy inception for your NEXT policy period.

Christmas Graphic of Important Upcoming Date January First

If you have been following my recommended Action Plan, you should have by now

  • obtained a copy of your loss run (online preferred)
  • analyzed the loss run for any files that seem over-reserved or should have been closed
  • contacted your Workers Comp adjuster
  • negotiated the reserves
  • obtained an additional loss run to make sure the changes were made

The best way to finish the analysis is to obtain a copy of your loss run in the last week of this month. Go over all the Total Incurred figures to make sure they match the negotiated reserves. If the changes were different than expected or were not made, the Total Incurred amounts on your claims are stamped in stone. Usually, after the close of business on June 30th, the insurance carriers will not change the values.

The Total Incurred will be reported to the Rating Bureaus using the June 30th amounts. If your policy does not have a January 1 renewal, then just add six months onto your policy inception date for your Unit Stat date. For example, if your renewal date is 4/1/11, then your Unit Stat date is 09/30/11.

I will post next time on how to get your E-Mod report months in advance of when it is released.

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James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


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