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Workers Comp Insurance Calendar – Looking At Important Dates

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Workers Comp Insurance Calendar – Let’s Look At What/When

A J&L blog and newsletter reader asked the question earlier this month – we just renewed so what is our Workers Comp insurance calendar going to look like for 2022 – 2023?

pic of workers comp insurance calendar ancient greece
Public Use License – Doneio

Most of the 2,000+ articles I have written come from reader questions.  I may not think of something every week to write about as Workers Comp does not change that much year to year.

Workers Comp Insurance Calendar Dates – Voluntary Market

Some of the dates you have to consider are:

  • Renewal Date Itself – do not renew on 1/1 or 7/1 – see this article
  • One month into policy – start preparing for your premium audit, the premium auditor will send you an appointment letter usually 30 days after policy expiration.  Organization and neatness are key.  Excel is your best friend at this point or you can try the free and highly rated Apache Office.
  • Three months into policy – start your reserve and loss run review ASAP, do not waste your time with an end-of-the-policy-year review.   This is due to the UNISTAT Date.  It is six months after your policy ends – usually.
  • Five and 1/2 months into the policy – with the UNISTAT Date coming up, have a loss run and make sure you review ALL the claims closely.   If one of the files looks over-reserved, contact your claims adjuster immediately, you have two weeks to correct the reserve amounts.
  • Ten months into policy – NCCI or your respective rating bureau should have produced your Experience Modification Factor – if you do not have one call 800-622-4123 to request one from NCCI or if in California you can request one using this form.
  • Continuously – obtain workers comp online access to your claims.  Adjusters post statuses online as they adjust the claims.  Make sure your claims adjusters know what you know about the claim as it progresses.   Always email your adjusters- calling is a time-waster.   Return any info (wage state, signed forms, etc.) ASAP.  I just reviewed a file where an unsigned form cost an employer a $2,000 fine.

There are so many calendar programs out there.  I use Microsoft Outlook.  Google calendar is a great one.  My personal calendar is on Yahoo Calendar.   Please remember that these are a few calendar dates.  There could be other important dates.  Check with your agent on any of those.

I will write an article on the Self Insured workers compensation insurance calendar next week.

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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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