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August 2016

Classification By Analogy Can Affect Workers Comp Rates

Classification By Analogy The term Classification by Analogy is one of those workers comp buzzwords that generates a large number of emails and call to us.   The term is usually mentioned by a workers comp auditor or rating bureau. One of the challenges of classification is when there is

Work Comp Outpatient Hospital Charges – WCRI Exposes Myth

States Vary Greatly in Work Comp Outpatient Hospital Charges – WCRI The Work Comp outpatient hospital charges for even a minor procedure have become very expensive over the last 10 years. The Workers Compensation Research Institute (WCRI) released a study today which indicates great variability between states and with the

Virginia Medical Fee Schedule – Hell May Freeze Over After All

Virginia Medical Fee Schedule Passed By House and Senate A new Virginia medical fee schedule is in the works.   One of the last holdouts on not having a fee schedule is going to have one January 2018.   I was actually shocked that a Virginia medical fee schedule was not in

Work Comp Premium Audits Do Not Have 75% Inaccuracy Rate

Are Work Comp Premium Audits Only Correct 25% Of The Time? We review Work Comp premium audits for employers as one of our core services.   J&L Risk Management Consultants has been reviewing work comp premium audits for over 20 years. We have analyzed enough data in our premium reviews to

Work Comp Schedule Ratings Backed By Science

Work Comp Schedule Ratings Backed by FSU Research Some of the Work Comp Schedule Ratings produced by NCCI, WCIRB, and other rating bureaus now have science to back the Schedule Debits or Credits.   The definition of  Schedule Ratings can be found here. A recent study by Florida State University has

North Carolina Work Comp Subrogation Takes Weird Turn

North Carolina Work Comp Subrogation Re-re-reverses Course The subject of North Carolina Work Comp subrogation has frustrated carrier and Third Party Administrator claims staffs over the years.   This case could be a model for changing subrogation laws in other states – possibly. One of my concerns is that Workers Comp

10 Most Dangerous Jobs For 2016 With Work Comp Rates

The 10 Most Dangerous Jobs vs. Their Loss Costs A 10 Most Dangerous Jobs list was produced by Careercast this week.   I thought I would try to compare the list of jobs with the corresponding Classification Code and Loss Costs to see how well they match. This effort may turn

Business Insurance Closes – Bummer – Update – Now Back Open

Business Insurance Closed – Update – They Are Back Open  Business Insurance was always a great publication that I read for many years.   They had recruited some of the best reporters in the business.    I referenced their information occasionally when I wrote my articles. Stephanie Goldberg was one of my

West Virginia Rates Reduced For 12th Time – NCCI

West Virginia Rates Are Falling Again The West Virginia rates for Workers Compensation have received another reduction recommendation by NCCI.   West Virginia is one of states that decided to covert from a State Fund to an open market for Workers Comp insurance. NCCI has recommended a rate reduction for the

Workers Comp Math – Where 2 + 2 = 5.36789

A Great Example of Workers Comp Math The crazy world of Workers Comp math has driven many people batty.   Why? Last week, I wrote an article that pointed out no one claim can wreck your  Workers Comp Experience Mod.    A few readers  contacted me in reference to my quote

Cutcompcosts.com Upgrades Articles – Better Readability

Cutcompcosts.com Upgrades Website Access and Readability We at Cutcompcosts.com are now happier campers, so to speak. Two years ago when we switched from Blogger to WordPress, we hired a company to convert the posts.  Unfortunately,  most of the posts ran together and caused accessibility problems for certain companies and individuals.

Experience Mod For Next Year – Ruined By Big Claim?

Experience Mod Question From Article Reader The Experience Mod system- while seemingly complicated and full of penalties – has a built in algorithm that keeps one very serious claim from ruining your insurance budget. In fact, your Mod for next year will not be affected whatsoever by the one big

Dave DePaolo – Workers Comp Community Loses Guru

Dave DePaolo Was Such A Great Person I met Dave DePaolo in 2003 through an associated Workers Comp company.   We met in the WorkCompCentral offices in Camarillo. For more on what happened to Dave and the memorial services , please see this WorkComp Central article.   I was going to stay



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