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NCCI State Advisory Meetings Worth Your Time? – Most Definitely

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NCCI State Advisory Meetings – Golden Nuggets of Info Treasure Chest

The NCCI State Advisory Meetings also called Forums still provide a huge amount of information for agents, employers, underwriters, adjusters, and other data wonks.   I have recommended this area of NCCI for at least 15 years.

NCCI is the rating bureau for 40 states – based in Boca Raton, FL.  In the late 1980s and 1990s, I used to work across the street from their HQ.

Now, of course, they record the meetings due to COVID-19.   Even if they do not have a state forum in your area, the NCCI state advisory meetings can provide you with a ton of great info.   Follow along here and I will show you my angle on the data provided by NCCI.

Let us look at Arkansas – hang on a minute – this is going to prove itself to be worth your time (promise).

NCCI analyzes data in Arkansas or any state at:

  • State Level – as expected
  • Regional Level – are you thinking of expanding into other states?
  • National Level – compared to the US stats

You can find the Arkansas Forum pdf here.  Download it, no really go ahead and download it.   Go to Slide 44.  In one slide you can see very quickly the Indemnity and Medical Benefit-Cost split in Arkansas, and n the region:

  • Louisiana
  • Missouri
  • Mississippi
  • Oklahoma
  • Tennessee
  • Texas.

The national statistics are also represented on the slide.   Wow, a plethora of info in 10 seconds – not bad, right?

In case you do not know what is included in indemnity and medical benefits, there is a slide for that info.   See Slide 56 for a full glossary of terms.  By the way, NCCI does not mind if you download their presentation slides (thanks NCCI).

OK for those who did want to download the slide, here is the thumbnail of the slide, click on it to see a larger picture.

Graph from NCCI State Advisory Meetings - Arkansas
(c) NCCI 2020 – All Rights Reserved

Three things you can quickly take from just one chart are:

  • Arkansas’s indemnity benefits are lower than the region and the US
  • The region’s benefits costs are very similar to the US
  • Medical benefits are 56+% of a workers comp claim compared to 65% for Arkansas

The regional figures remain one of the best comparisons for companies that:

  • Agencies that want to write in more states
  • Employers considering expanding into states in that area
  • Arkansas employers looking to expand
  • Risk managers can use this info to the nth degree

The Kid’s Chance organization on slides 39 – 41 should always be a stopping place to read about a great grass-roots organization started in 1988 in Georgia.   They provide scholarships to the children of very severely or fatally injured workers across the nation.

If you want to instead see the presentations online, NCCI State Advisory meetings can be viewed by clicking on the respective state.

 

 

 

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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