September 2020

Workers Comp Reserve Reduction Strategy – Critical Last Step

Workers Comp Reserve Reduction Strategy – Do This Last Critical Step Many articles in this blog center around formulating and enacting your workers comp reserve reduction strategy.   We have heard from many article/blog readers -where the anticipated reserve reductions did not tabulate properly. We heard from an agent today with

How J&L Reduced Workers Comp Reserves $300,000 In One Month

Animal Rescue Loss Run Analysis Reduced Workers Comp Reserves – Short Deadline We reduced Workers Comp reserves for an Animal Rescue and Veterinary in 30 days by 300,000 was one of our most recent successes.   How do we do it?   Follow along – maybe you can do it for your

Physical Premium Audits – COVID 19 Removed The Physical Part

Will Today’s Hybrid Audits Ever Return to Physical Premium Audits? First – let us define the three types of audits in this article –  Short Definitions Hybrid -the records are usually reviewed offsite -technology has allowed much easier access to employer records without having a “physical presence” at the employers’

Hard Workers Comp Markets – The Silent Reasons Why

Hard Workers Comp Markets – Two of the Reasons Not Discussed That Often The hard workers comp markets usually occur when the suppliers (carriers) cut the supply of insurance to (demand) employers.   I have heard investment returns often discussed in many of the reinsurance webinars and articles – not so

Loss Cost Decrease Does Not Directly Result in Premium Decrease

Loss Cost Decrease Question From Newsletter Reader A newsletter reader recently asked this question after reading that their state recommended a Workers Comp Loss Cost decrease recently. If our state has a Loss Cost decrease does that mean we will pay less premium?   My answer to their email inquiry was

Premium Audit Payroll Figures More Critical Due To COVID-19

Premium Audit Payroll Numbers Now More Important Than Ever Why is the Workers Comp Premium Audit payroll accuracy more important in 2020?  Yes, the COVID-19 pandemic may reach into your premiums more than you or your company may have anticipated.  Let us look at the basic components of your Experience

Physical Therapy Study – Great Workers Comp Loss Control

Physical Therapy Study – Early Use Means Lower Costs – WCRI A recent physical therapy study proves what we have been saying for over 30+ years. Two of the most-read read articles on this website consist of articles on therapy in general.   I did not think about why they were

The Workers Comp Self Insurance Risk No One Talks About

Workers Comp Self Insurance Risk – The $250,000 Repetitive Mega Claims I sometimes forget to mention the self insurance side of Workers Comp Risk Management.   A certain Workers Comp self insurance risk conversation seldom occurs in voluntary insurance vs. self insurance decisions. Voluntary insurance may seem like an unused commodity

Workers Comp Android Apps – Journey Down The Rabbit Hole Again

Workers Comp Android Apps – Giving It One Last Try Three years ago, a gentleman contacted me by phone.  He was very patient in explaining Workers Comp Android Apps were going to fade away as most smartphones can handle accessing the website directly.  An App was likely not going to

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