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March 2019

Workers Comp Physician Networks Importance Reaches Critical Mass

Workers Comp Physician Networks Now More Critical to Cut Comp Costs One of the Six Keys or Secrets to cut your work comp costs becomes even more important now due to a fact covered later in this article.   Workers Comp physician networks are a great risk management technique that involves

IRS Subcontractor Section Update Adds Government Employees

Updated IRS Subcontractor Section – Great Subcontractor vs. Employee Status Rules Last month, the IRS Subcontractor Section was updated with new information.   As promised, the IRS updates to these pages will appear in this blog as I find them. For premium audits, make sure that all subcontractors are noted so

Rate Bureau Calculations Using WCRI Numbers Show Mod Increases

Using Rate Bureau Calculations on WCRI’s Data – Whew! Most Rate Bureau calculations make people daydream or roll their eyes back in their heads just before they start to drift off to sleep.  I have concocted  a few statistics using WCRI’s astute statistics and WorkCompCentral’s great data analysis. WCRI (Workers

California Rating Bureau WCIRB Equity Compensation

Equity Compensation – California Rating Bureau WCIRB Provides New Rules   The California Rating Bureau WCIRB recently published an article which has been  the basis for many debates among carriers, rating bureaus, and premium auditors.    When I attended the IAASE Conference last year in Columbia, SC, a part of the

Pennsylvania Workers Comp Carriers May Owe Premium Refunds

Premium Refunds Likely Owed by Pennsylvania Workers Comp Carriers Seventy Pennsylvania Workers Comp insurance carriers stepped up and fixed their Lost Cost filings.   Please note you do not have to be a Pennsylvania employer to have been affected by the corrections.   If your policy, premium audit or E-Mod Sheets have

US Treasury Sell Off By China and Japan – Effect on Work Comp Markets

Insurance and Workers Comp Markets Anchor Investment Concern How can Workers Comp markets sustain any effect from China selling off US Treasuries?  Check my earlier articles on this very subject at this link.  Take a look at this chart from the Feds on to see if this situation is true. 

Workers Comp Payroll Figures Affect More Than Just The Premium Audit

Workers Comp Payroll Records Hang Around For Four Years+ A company’s workers comp payroll records are vital to the premium audit process.   Assessing a company’s payroll records is one of the auditor’s main job functions. So your premium auditor has combed through your company books .  The auditor has generated

Stabilizing Value – Work Comp EMod Formula Magical Employer Lifesaver

Stabilizing Value – Rating Bureaus Provide a Break of Sorts The Stabilizing Value in Workers Compensation Rating Bureau Experience Modification Factor Worksheets saves companies premiums every day.   How does this boring-sounding number help employers save premium dollars? I am using the numbers from an EMod sheet that I have been

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