March 2013

Monopolistic Ohio Overcharges Companies $845,000,000

Monopolistic Ohio Overcharges Mega Amount Monopolistic Ohio and its Workers Compensation bureau had been the center of controversy a few years ago with a few questionable investments.  A judge recently ruled that The Ohio Bureau of Workers Compensation (BWC) overcharged insureds $845,000,000. The average refund payable per each employer is

Workers Comp Audit Materials Needed For Full Review

Workers Comp Audit Materials Needed The materials needed for Workers Comp Audit are communications, data, information and contracts. We receive this question quite often when customers or potential clients inquire about our services.   We usually do not disclose this information until a contract is signed as we use a

Stairstepping Reserves – Two Edged Avoidable Poisonous Sword

Stairstepping Reserves Never Good For Workers Comp  The two edged sword of Stairstepping reserves can be one of the most damaging developments to E-Mods or even worse for self insureds/large deductible plans. The basic Workers Comp claims formula is Total Incurred = Paid + Outstanding Reserves.   The Total Incurred

Outlier Claims In Your Workers Comp Loss Runs – Savings Goldmine

Workers Comp Loss Runs – Outlier Claims Skew Everything Hunting the outlier claims s is the way to get the most “bang for your buck” in your loss runs.  Workers Comp loss runs can be a gold mine of information.   Finding gold can be tedious. Outlier claims are the

Workers Comp Data Mining From Inside Out – A Look Inward

Workers Comp Data – From The Inside Out  Most Workers Comp Data analysis reeks of being too standard in nature. Workers Comp and general insurance data mining was one of the presentations at the SC PRIMA conference this week.  The presentation was great.  The two Willis Companies presenters covered such

South Carolina PRIMA Conference – Interesting Presentations

South Carolina PRIMA Conference Had Great Presentations The South Carolina 2013 PRIMA Conference kicked into full gear today with very good presentations.   The following is a short program of the all the presenters.  I was not sure if I was going to get much out of the conference. Each

Workers Comp Reserve Reviews And Subrogation – Three Concerns

Workers Comp Reserve Reviews And Subrogation Our Workers Comp Reserve reviews uncover many concerns on claims handling.  Subrogation refers to an insurance company seeking reimbursement from the person or entity legally responsible for an accident after the insurer has paid out money on behalf of its insured. In Workers Compensation,

Recent Florida Decision Make All Reserves Inadequate In Sunshine State?

Florida Decision Could Cause Crisis The recent Florida decision makes all reserves possibly inadequate.  The Florida Workers Comp Claim that was mentioned earlier this week shows how little the upper courts understand the intricacies of  certain Workers Comp claim systems.  There had been published cases by Supreme Court Justices that said they

Workers Comp Premium Auditor Fraud Is Hard To Detect

Workers Comp Premium Auditor Fraud Workers Comp premium auditor fraud is very hard to detect.  The auditors possess such a high level of fiduciary responsibility as they review millions of dollars in premium every week.  This fiduciary responsibility came to light with the recent West Virginia case. A Brickstreet premium auditor had been

Florida E-Mod System Changed By Court of Appeals- Shocker

Florida E-Mod System v. Court of Appeals The Florida E-Mod system took a massive hit last week when a Court of Appeals decided that the state’s limit on Temporary Total benefits were unconstitutional. I find these types of decisions repugnant as try to “socially legislate”  Workers Compensation benefits ends us creating

NCCI NCRB New Mod Calculation Presentation This Week

My Upcoming Mod Calculation Presentation The NCCI NCRB new Mod calculation are the subject of my upcoming presentation.  I will be presenting on Tuesday March 5th for the Charlotte Association of Insurance Professionals  on the new E-Mod (Experience Modification Factor) calculation.   All North Carolina Workers Compensation policies that are renewed

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