October 2013

Scariest Claims of All – IBNR Can Be Frightening – Happy Halloween

IBNR Can Be Frightening To All Parties  IBNR (Incurred But Not Reported) can be one of the most frightening aspects of the Workers Compensation system as a whole.  I often hear the term bandied about in WC “techie talk” conversations.  All parties in the WC system need to be aware

Australian Woman Loses Workers Comp Case Sex Injury While Traveling

Australian Woman Loses Workers Comp Claim For Sex Injury An Australian woman loses sex-based Workers Comp case.  The Daily Telegraph reports that the woman who initially won her case for Workers Compensation benefits for a sexual activity injury has now been denied benefits by Australia’s highest court. A lamp fell

Pay ACA Penalty File Workers Comp Claim For Medical Treatment

ACA Penalty May Not Deter Workers Comp Claims  What if a worker decided to pay the ACA penalty and file a WC claims for medical treatment?  The Affordable Care Act (ACA) may cause an unintended spike in Workers Compensation claims.   One of the concerns over the years in claims

Estimated Premium Audits For Non Compliance Costly Proposition

Estimated Premium Audits Not Sound Judgement By Employer Estimated Premium Audits for non compliance costs many employers dearly.  Premium audit bills and notices generate most of the calls and emails we receive on a consistent basis.  The first question that is asked usually concerns allowing the premium auditor to examine

Rating Bureaus – Claims Reporting Confusion Question

Rating Bureaus  – How Do They Receive Claims Info – Reader’s Question A readers question on how claims are reported to the Rating Bureaus.  Loss runs are the Holy Grail for controlling your Workers Comp costs.  A great blog readers question email came in last week.   The question –

Accident Curve – Upcoming Workers Comp Risk Factor

The Accident Curve Comes From The Learning Curve There has been a large amount of recent traffic and buzz on the articles in the blog that covered the Learning Curve or the Accident Curve.  There was an old adage in Risk Management that said “90% of all accidents happen the first time

Construction Dangers Top 4 From OSHA – 35% Due To Falls

Construction Dangers – 35% Due To Falls  A report on construction dangers was produced this week by OSHA.  Construction is one of the most expensive groups of classification codes.  This has been the case for many years.  In the early 2000’s some California insurance carriers were charging $170 for every

10 Most Cited OSHA Violations in 2012 – Three From Construction

10 Most Cited OSHA Violations One of the mini-articles that stood out from the various stats was the OSHA violations that resulted in a citation. The OSHA and BLS websites are very well stocked with almost any type of employment injury statistics imaginable. An associated article on this subject was

One Silent But Very Viable Area Of the WC System

A Viable Area That No One In Workers Comp Discusses  A very viable area of the WC system has existed for over 3o years and will continue to exist in the future.  I often do phone consultations for investment groups that are looking to invest in the Workers Comp “space.”

Federal Government Shutdown’s Effect on Workers Compensation

Federal Government Shutdown May Have Little Effect Does the Federal Government shutdown have any effect on WC?   The governmental shutdown was highlighted in a recent article in The Insurance Journal.  I do agree with the author that the shutdown pertains to the federal level and Workers Comp, for the

Law Of Large Numbers – How It Ruins Small WC Funds

Law Of Large Numbers Catches Up To All Small Insurance Funds The recent Affordable Care Act (ACA) going live is a reminder of how risk needs to be spread over a large numbers of participants to be viable.  The Law of Large Numbers is one of the concerns that the

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