Top 10 2018 Self Insured Resolutions
The Top 10 2018 Self Insured resolutions are based on the 2017 and 2016 resolutions. Searching the world resolution in the search box at the top right of the page bring us a long list of resolution articles.

The 2017 resolutions were:
- Obtain and know your LDF (Loss Development Factor)
- Working relationship with adjusters
- Use email – not phone calls
- Conquer Your TPA expenses
- Watch the Learning Curve for Accident Spikes
- Use online access when available
- Attend A Workers Comp or Safety Conference
- Subscribe to our weekly Newsletter
- Obtain Your Loss Runs
- Write an article on Workers Comp .
A fuller explanation of the terms are in the 2017 article.
The 2018 resolutions are:

- There is nothing wrong with not being Self Insured – Many companies and organizations think that once a certain level of success and growth has been attained, self insurance for Workers Compensation should soon follow. We have often discouraged companies from becoming self insured and even helped self insureds convert to another line of insurance for their coverage.
- Construct a Request For Proposal (RFP) for your Third Party Administrators (TPA’s) – governmental agencies are tasked with this requirement. There is a reason for that requirement – to obtain the best possible value.
- Unbundle your required services with multiple RFPs for such providers as rehabilitation nurses, bill review, pharmacy, etc. Even though this is hellish at first, the future dividends are usually great.
- Have the ability to ad-hoc print your loss runs – monitoring the claim payouts is critical. Remember, the adjuster is spending directly from your budget account.
- Having a Working relationship with adjusters to monitor claims closely. This is a holdover from 2017. It was very important for self insureds many years ago. The working relationship is still important now. A red flag is that you do not know the names of the adjuster or adjusters handling your files.
- Keep in mind each state in which you operate has its own set of minimum rules for being self-insured – for companies considering becoming self insured. One very common minimum is $500,000 of liquid assets in that state. You may have to be self insured in certain states but have another policy for your non-self insured states.
- An alternative to LDF’s – Loss Development Factors is SynthMods(R). We calculate those for self insureds. They are basically E-Mods instead of LDF’s. SynthMods rate your company with the Experience Mods like you were still in a regular workers comp policy. They are an alternative to LDF’s.
- Understand all your TPA expenses. That is a holdover from last year’s resolutions. That is why I suggest in #3 above to unbundle all your TPA’s expenses. Examine each service provided as a separate total.
- Take your self insured program in- house. This is the most labor intensive recommendation. However, having an internal claims staff can save a large amount of budget. A caveat – watch the Law of Large Numbers here. You need to have a large workers comp budget to do the claims in-house
- Go back and read all the resolutions I have written. Even if the resolutions are not specifically for self insureds, you can glean great information. The resolution search is here.
- Bonus – Full online access to your claims including reserving and adjuster notes will save many phone calls and emails to the adjusters. The more you know about your claims, the less budget will be used for your claims. In other words, the more you pay attention, the more claim payouts will naturally fall over time.
There are many more resolutions which could be added to the list. Good luck with your 2018 self insured resolutions.
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