Search Results for: statistics

NCCI Virginia Advisory Forum 2018 – Shocking Nationwide Statistics

Shocking Results at NCCI Virginia Advisory Forum – All Good The NCCI Virginia Advisory Forum showed a strong Workers Comp market.   The strong market is not surprising.   The strength of the nationwide market was astounding.   I attended the NCCI Virginia Advisory Forum in Richmond yesterday.  North Carolina has it own

Workers Comp Statistics Madness Shocker Appears Last Week

How Can Workers Comp Statistics Madness Be Cured? One of the supposedly important Workers Comp Statistics based articles appeared  last week.   The study and article compared  (Affordable Care Act) Medicaid expansion states with states which decided not to allow the expansion.   The conclusion drawn was: States that allowed

Opioid Statistics – Incredible Numbers From Recent Webinar

Mind Blowing Opioid Statistics These opioid statistics are astounding and verifiable.  I was listening to a great webinar recording today – See next article.     One of the topics was the effect that opioids would have on Workers Compensation in 2017 and beyond.     I was subsequently reading

California CWCI Independent Medical Reviews – Other Statistics

California CWCI Publishes Quarterly Report on IMR Statistics – The Other Numbers The California CWCI (California Workers Compensation Institute) recently published a spotlight report on the state’s Independent Medical Review (IMR) process.   The IMR process was initiated due to Senate Bill 863. If a UR (utilization review) physician provides an

WCIRB WCAN WCRI = Confusion on California WC Statistics

Confusion on California WC Statistics WCIRB WCAN WCRI  – Three trusted statistical providers that now have me confused on whether or not SB 863 actually had an effect on California’s Workers Comp system. Acronyms – WCIRB  – Workers Compensation Insurance Rating Bureau – The Rating Bureau for California’s WC system

Bureau of Labor Statistics Provides Huge Amount of Workers Comp Data

Bureau of Labor Statistics – A Wellspring of Data The Bureau of Labor Statistics  can be found at bls.gov One of the great providers of Workers Compensation data is the Bureau of  Labor Statistics .   One has to know where to look to find the best WC data.   Some

Workers Comp Statistics – Are They Believable and Trustworthy?

Workers Comp Statistics Come With Many Caveats The Workers Comp statistics production is one area that I have noted a sharp increase in over the last few months. There are so many statistics out there that make no sense; have (very important) an underlying unreported statistic, or relate the obvious

Safety Statistics Shows Failure of Basic Risk Management

Basic Risk Management Failure Shown By Safety Statistics A recent Safety Statistics article was not kind to basic risk management.  I was reading through a large amount of workers comp publications over the weekend. I came across what to me were astounding statistics on safety and risk management. The survey

Long Term Outlook for Workers Compensation Mix of Statistics

Workers Comp Long Term Outlook – Good + Bad  The National Council on Compensation Insurance (NCCI) had an optimistic outlook on the Workers Compensation market. However, the NCCI had recently adjusted its long term outlook for workers’ comp to cautionary. This may be the warning of a hard market. These

Workers Comp Reserve Redundancy – The Good, Bad, and Ugly

Workers Comp Reserve Redundancy – Industry Health Measure + Bane of Claims Staff What is a Workers Comp Reserve Redundancy?  Why does it keep Claims VPs up at night?   Workers Comp Reserve Redundancy Definition  Reserve Redundancy can be thought of as two-sided.   On a micro-level, an aggressive reserve by an

NCCI Pandemic Analysis Verifies Insurance Crisis That Never Occurred

2021 State of The Line – NCCI Pandemic Analysis – Incredibly Fast Recovery  The NCCI pandemic analysis was quite a change of pace from the dire 2020 predictions for the Worker’s Comp markets.  I decided to attend the 2021 NCCI Virtual State of The Line – both days.    The

Workers Comp Delayed Medical Treatment Increases Opioid Prescriptions

If you are looking for the Supreme Court Case Article – Click here. Increased Opioids From Workers Comp Delayed Medical Treatment – WCRI  A recent WCRI (Workers Comp Research Institute) webinar showed that workers comp delayed medical treatment results in a higher level and longer treatment with opioids.   The chart

WCRI 2021 State of the States Presentation – The Past Rules

WCRI 2021 State of the States: Selective Findings The WCRI 2021 State of the States was extremely informative as it has been every year that I have attended the conference. Speakers: Bogdan Savych, Ph.D., Rebecca Yang, Ph.D. Dr. Savych compared much of what happened in the current pandemic with the

NCCI State Advisory Meetings Worth Your Time? – Most Definitely

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

AIC Associate in Claims Designation Article Most Popular of 2020

Associate In Claims (AIC) Designation Popularity Positive Sign  The Associate in Claims (AIC) articles that I wrote over the year were the most popular article search on the J&L website for 2020.  Usually, I check later in late December to see which articles were the most read for each year.  

Workers Comp Webinar Technical Difficulties Can Be Avoided

Dry Runs Eliminate Workers Comp Webinar Technical Difficulties  Unfortunately, Workers Comp webinar technical difficulties do happen now.  The statistics will catch up with the webinar community.  With so many workers comp webinars being presented, an organization cannot avoid having random technical difficulties.  Bill Gates Says Pandemic Provided Opportunities  On a

Free Workers Comp Study – Best Report on Medical Costs WCRI

Free Workers Comp Study – WCRI Medical Price Index – A Great Reference Tool  WCRI (Workers Compensation Research Institute) released its annual free workers comp study and report on medical prices for the treatment of Workers Compensation injuries.   Please see the bottom of this article for the link to the

Workers Comp Consultant Company – J&L – Top 10 Lessons Learned

J&L – 25 Years and Counting As A Leading Workers Comp Consultant Company  J&L Insurance started in 1996 as a Workers Comp consultant company handling the proper filing of claims forms for large self-insureds.    We added services as the market requested it such as premium audit services, general consulting,

COVID-19 Pandemic Statistical Madness Rears Its Ugly Head

COVID-19 Pandemic Statistical Madness – Whose Numbers Are Correct? The COVID-19 Pandemic statistical madness has reached epic proportions.   I usually do not stray from Workers Comp articles.  That is why you read this blog and the newsletter.   However, the recent numbers flashed on screens across the world gave me pause.  

WCRI 2020 Annual Conference Next Month – Show Me The Data + Secret

The WCRI 2020 Annual Conference – Data and Study Paradise  –  Thursday March 5th – 6th    The WCRI  2020 Annual Conference (Workers Comp Research Institute) heads back to Boston this year.  Last year, the Conference was held in  Phoenix.   I will be there on the front row doing my

Workers Comp Combined Ratio Means Market Extremely Healthy

Workers Comp Combined Ratio Questions Asked By Readers Over The Last Week  Workers Comp Combined Ratio remained a hot topic from last year.   Last week, at the NCCI Virginia State Advisory Conference, the Workers Comp Combined Ratio stunned the audience, and even the NCCI presenters.   Last year, the level was

Workers Compensation Numbers Employers Must Have At Their Fingertips

Keep These Workers Compensation Numbers Close For Quick Access The first two main workers compensation numbers involve knowing where your worker’s compensation program is currently.  If you do not know where you are, the task of knowing what to do to improve your numbers becomes extremely difficult.  Use Your CompCompass(c). 

Free NCCI State Advisory Forums – Are They Worth Your Time?

Free NCCI State Advisory Forums Provide Great Workers’ Comp State Statistics The Free NCCI State Advisory Forums have provided great state and national data for years.   Some of the Forums provide an Open House to see all of NCCI’s products.   See below for the upcoming schedule.   NCCI stands for National

Our OSHA Consultant – Safety Metrics Part 3 of 4 – The Lunch Numbers

Safety Metrics, Keeping  your Cool in a Hot Zone – The Safety Lunch Safety metrics is the way we will measure our safety program.   Without measurements we have nothing. On our third install we will follow Nate and Fanta  out to lunch.            Fanta )   “  So Nate  what 

OSHA Consultant – Part 2- Keeping Your Cool in a Hot Zone

Our OSHA Consultant Glen, CSP adds in another part of the Safety Metrics  –  Keeping Your Cool in a Hot Zone series “ As the company’s chief financial officer, what can you tell me about your companies experience modifier? “     Answer: “ I  know that it is higher than

Occupational Illness Rates by Industry – Great BLS Data Surprising Results

2017 Bureau of Labor Statistics Occupational Illness Rates by Industry – Surprising Workers; Compensation Illness by Industry Rates shows which industries had the highest rates of occupational illness.    Occupational illnesses are defined by the BLS as:  BLS considers an occupational illness to be any abnormal condition or disorder—other than a case resulting from

Workers Comp Data Carveouts Move Data To Dangerous Ground

Workers Comp Data Carveouts – Are You Guilty of  Sampling Errors?  The concept of Workers Comp data carveouts surfaces more now that employers look to enhance their workers’ compensation saving programs. Workers comp data carveouts start when a company, organization, consultant, etc. decide to use oversampling of a small set

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

WCRI Annual Conference 2019 – Live Blogging – If My Wrists Hold Out

First Day – Morning Conferences – WCRI Annual Conference 2019 – Live Blogging  If I make mistakes in this live blogging of the WCRI Annual Conference 2019, please excuse, this is live and I do not really go back and change  anything Beginning of WCRI Annual Conference 2019 Presenters KEYNOTE:

Workers Comp Claim Analytics – Looking For Miracles Under Every Rock

Workers Comp Claim Analytics – Hot Subject Leaves Me Cold  Most workers comp claim analytics posts I have written was in search of a good claim analytics package.   Unfortunately,  my search ended up like my search for workers comp apps – disappointed with still a hope for the future. Company

Combined Ratio South Carolina NCCI Advisory Forum Shocker

 US Combined Ratio Falls Even Further to Historic Lows   US Combined Ratio Results The US had its best Combined Ratio last year since the 1950s and is improving even more.  The current Combined ratio is .89 nationwide.    I first heard about the incredibly low ratio at NCCI’s Virginia Advisory Meeting

Two Great Workers Compensation Guides WCRI – Benchmarks RXs

WCRI Releases Two Great Workers Compensation Guides in October  Workers Compensation Guides by WCRI (Workers Compensation Research Institute) were released in October.  The ones that caught my eye were the two below.   The Benchmark study can be broken up by state if you do not wish to download the report

Workers Compensation Accident MVA Spike and Smartphone Use

MVA Workers Compensation Accident Increase Possibly Linked To Smartphones The Workers Compensation accident increase reports are a thing of the past.    All of us know that on-the-job accidents have decreased significantly over the last few years.   The one constant in these reports is the lack of a root cause. 

Predictive Analytics Is Now Opioid Buzzword Replacement

Predictive Analytics Replaces Opioid Buzzword Predictive Analytics for workers compensation claims adjusting still has not proven itself as a cost saver.   Please note that I am referring to workers compensation only.    Predictive analytics for other lines of casualty insurance such as auto and property damage has shown some promise

WCRI 2018 Conference Boston MA – Blogging It Live

It is now time for the WCRI 2018 Conference live blogging. Please excuse any typos.   I am doing this live while the conference is proceeding.  If you want to check out any of the blogging live conferences I have done check here. Thursday WCRI 2018 Conference Schedule  Dr. Erica Goshen

Independent Contractor Employee Checklist Employers Contractors

Progressive Insurance Workers Comp Commercial Mentions Replacing Injured Worker Progressive Insurance Workers Comp comment caught me a little off-guard with one of Flo’s(r) comments. The comment is not in print on their Workers Comp or Commercial Insurance webpages. Binging on a Saturday of college football and finding information for an

NCCI Workers Comp Medical Cost Discovery – PHC Best Measurement

New NCCI Workers Comp Medical Cost Discovery – One To Definitely Download and Read A new NCCI Workers Comp medical cost discovery was met with a suspicious eye by me.   Then again, the study, summary, and whitepaper came from the venerable organization.   NCCI (National Compensation Council Inc) is headquartered in

Insurance Industry Employment Alarming Numbers – Shocker

Insurance Industry Employment Figures  Should Be A Wake Up Call  These insurance industry employment trends should sound off a few alarms.  Recently, I was reading the July issue of AM Best’s Monthly Magazine.  The July Issue covers the Millennial paradox among other concerns.   One of the article covers a

Is This Holy Grail For Opioid Epidemic? (Breaking News)

Use Among Mentally Ill May Be Key To Opioid Epidemic The opioid epidemic has reached massive proportions over the last few years.   Researchers and pundits searched for the key to why such a high use level among the US and World populations.    Opioids dominated much of the Workers

Work Comp Audit – Six Similarities To Home Closing

A Work Comp Audit vs. Closing On A Home A Work Comp audit may remind someone of their first or subsequent  home closings.    A list of the similarities follow: Both are stressful.   Steps that you can take prior to the audit are here.   Think organization from the start. 

2017 WCRI Conference 2nd Morning Session Blogging Live

2017 WCRI Conference 2nd Morning Session Live Blogging – typing it as it happens STATE OF THE STATES The start of the 2017 WCRI Conference 2nd morning session will discuss some of the latest findings and trends seen across WCRI’s core benchmark studies, including WCRI’s 18-State CompScope™ Benchmarks reports, a

NCCI Affordable Care Act Analysis – With Political Twist

NCCI Affordable Care Act Analysis Interesting Conclusion The recent NCCI Affordable Care Act Analysis synthesized a very interesting conclusion.   The National Council on Compensation Insurance is based in Boca Raton, FL.  At first glance, along with this article, the NCCI estimated that removal of the Affordable Care Act would likely

10 Most Dangerous Jobs For 2016 With Work Comp Rates

The 10 Most Dangerous Jobs vs. Their Loss Costs A 10 Most Dangerous Jobs list was produced by Careercast this week.   I thought I would try to compare the list of jobs with the corresponding Classification Code and Loss Costs to see how well they match. This effort may turn

California Medical Review and Dispute – Blogging WCRI Conference

California Medical Review and Dispute Blogging Live WCRI Conference California Medical review and dispute is a white hot topic amongst risk managers presently.  One of the hot sub-topics now is the amount of money charged for UR (Utilization Review) in California.   In our claims loss run analyses, we find

247,120 Slips, Trips, And Falls Devastate 2014 Workers Comp Budgets

247,120 Slips, Trips, And Falls – Increased by 8% Slips, trips, and falls as a type of  WC injury increased by 8% when compared to 2013  figures.  According to the BLS  (Bureau of Labor Statistics), there were 247,120 slips trips and falls in 2014.   This figure was much more

Trans-Pacific Partnership Agreement Contains Workers Comp Provision

Trans-Pacific Partnership Agreement Page 4343 How is Workers Comp Affected? The Trans-Pacific Partnership Agreement (TPP)  is now the new buzzword in the political arenas.   The controversial agreement was just released yesterday. How many times does it appear in the TPP?  Will it affect WC? Actually the TPP only mentions

Indiana Workers Comp Fee Schedule Partially Enacted = Rate Increase

Indiana Workers Comp Fee Schedule Partially Enacted The Indiana Workers Comp Fee Schedule was partially enacted 7/1/2014.   That was a great move except a point was missed as to the real reason for their true cost figures.   Check out the chart below.   Click on the chart to

Meth vs Opioids in Workers Comp – Hidden Epidemic?

Meth vs Opioids in Workers Comp Meth vs Opioids in Workers Comp – the silent epidemic is occurring and we may not be looking at what should be considered an even more dangerous line of drugs than opioids. Opioids are one of the most discussed topics in any analytical setting

California’s Workers Compensation Difficulties – Great Primer

California’s Workers Compensation Difficulties California’s Workers Compensation difficulties may have subsided for a few years.  However, it seems that it was only a temporary situation. Workers Compensation Action Network (WCAN) recently responded to ProPublica’s and NPR’s analysis of Workers Comp in California.   A recent responsive article was also published

CutCompCosts Blog – 360,000+ Page Views In One Day – November

CutCompCosts Blog Pops In Popularity For One Day The CutCompCosts Blog had over 360,000+ Page Views in November.  If you own a blog, using Google’s webmaster tools may help your web traffic and enhance your website analysis.                           

Proove Pharmaceuticals Great Innovator NWCDC – Las Vegas

Proove Pharmaceuticals – Innovator  A great innovator Proove Pharmaceuticals was a vendor at the NWCDC  in Las Vegas. Workers Compensation is not one of the lines of insurance with very many innovations over the years.   I had decided that there had to be some innovation at the nation’s largest

BLS Publishes Pilot Test Modified and Restricted Duty

BLS Publishes Pilot Test – Full Of Good Info The BLS publishes pilot test on Modified and restricted duty that is  full of great charts and data. The BLS (Bureau of Labor and Statistics) has more labor statistics than any site on the web.  If you are a writer or presenter,

Workplace Transportation Incidents Account For 40% Of Fatalities – BLS

Workplace Transportation Incidents Account Workplace transportation incidents = 40% of fatalities according to the BLS.  The Bureau of Labor Statistics recently released various  studies on Workplace Fatalities.  An article was published earlier this year on The 25 Most Dangerous Jobs The numbers below are preliminary. The statistics are usually changed slightly as

Insurance Industry Employment Numbers – Better Than Last Year

Insurance Industry Employment Numbers Still Not Great Figures In late 2012, Workers Compensation insurance industry employment was stable. The numbers for Workers Comp actually were mixed in with property and casualty. A few insurance industry employment areas have actually reduced greatly over time.  Some of the reduction was due to the

Shocking Insurance Industry Numbers – 25% Gone By 2018 – Brain Drain?

Insurance Industry Numbers Show 25% Drop In Employment The following are insurance industry numbers that should be very concerning to the insurance world. A very short but chilling article pointed out a few numbers of the upcoming insurance company personnel crisis.  By 2018, 25% of all insurance company personnel will

WCRI Proves One of My Five Keys To Workers Comp Savings

Workers Comp Savings – WCRI Proves 4th Key I wrote the Five Keys to Workers Comp Savings many years ago.  When a great research company agrees with a long-held point, that is always a great sign.   The Workers Compensation Research Institute (WCRI) recently published another great study.   The study

Top 25 Dangerous Jobs – Highest Injury Rates 2011 and 2012

Top 25 Dangerous Jobs Using BLS Statistics The Top 25 Dangerous Jobs list contained a few surprises.  The Bureau of Labor Statistics publishes many great employment statistics.  When I was searching for the injury rates of the teacher from yesterday’s article, I came across the injury rate rankings of the most dangerous

Student Teacher Violence Stunning Increase May Affect Workers Comp

Stunning Student Teacher Violence Report The stunning student teacher violence increases may affect Workers Comp in the future.  The National Center for Education Statistics recently published a study – Indicators of School Crime and Safety – 2013.     One of the more shocking statistics pulled from the study was

WCRI (Workers Comp Research Conference) – Reporting Live

WCRI (Workers Comp Research Conference) Workers Comp Research Conference reporting live. First Session is ACA (American Healthcare Act) effects on Workers Comp.  Dr. Jon Gruber–  Wow this conference is packed.   Kudos to WCRI.   Everyone from WCRI was very helpful and hooked me up to the hotel wireless system

Statistical Madness – Another Shining Example From Internet

Statistical Madness – Eating While Driving  More statistical madness was created with another shining example this month. Over time, a few Workers Comp statistics articles are published that basically have no basis in fact.  For example, many pundits said that California SB 863 was going to save employers large amount

Predictive Model For Workers Comp Misunderstanding

Prior WC Predictive Model Article Was Referring To Claim Reserves Last Friday,  I published a blog article on a predictive model in Workers Compensation.  A few emails were received that indicated there were many great software products for predicting E-Mods and other variables in Workers Compensation. In the original article,

Accident Curve – Upcoming Workers Comp Risk Factor

The Accident Curve Comes From The Learning Curve There has been a large amount of recent traffic and buzz on the articles in the blog that covered the Learning Curve or the Accident Curve.  There was an old adage in Risk Management that said “90% of all accidents happen the first time

10 Most Cited OSHA Violations in 2012 – Three From Construction

10 Most Cited OSHA Violations One of the mini-articles that stood out from the various stats was the OSHA violations that resulted in a citation. The OSHA and BLS websites are very well stocked with almost any type of employment injury statistics imaginable.    An associated article on this subject

National Academy Of Social Insurance – Employer Cost WC +7.1% 2011

National Academy Of Social Insurance  (NASI) The NASI takes on a monstrous task every year of attempting to make sense of Workers Comp data on a national basis.  NASI’s recent report and press release basically had a misleading headline that Workers Comp costs increased due to an economic recovery.   That

NIOSH Interested In Workers Compensation Data – Federalization?

NIOSH Interested In Workers Compensation Data NIOSH (National Institute For Occupational Safety and Health) which is part of the federal government (Center for Disease Control) recently announced they were beginning to collect Workers Comp data.   John Howard MD Director announced that Workers Comp costs the US over $250 billion.

When Articles Hide Real Study Results – The Read Meat Example

Real Study Results Are Sometimes Hard To Find  The real study results are sometimes hidden or not even included in the article itself. Workers Compensation statistics can be used to make an invalid point by massaging the data to make sure the data fits the assertion.  Overall, misleading statistics are

Outlier Claims In Your Workers Comp Loss Runs – Savings Goldmine

Workers Comp Loss Runs – Outlier Claims Skew Everything Hunting the outlier claims s is the way to get the most “bang for your buck” in your loss runs.  Workers Comp loss runs can be a gold mine of information.   Finding gold can be tedious. Outlier claims are the

NCCI Report On Auto Accidents Has Interesting Subrogation Numbers

Auto Accidents Report Has Interesting Side Statistics The NCCI report on Auto accidents. NCCI (National Council on Compensation Insurance) is the largest rating bureau in the nation.  Their statistics cover 21 or more states.   One of most dangerous places to work is in your automobile according to their report.

Workers Comp Employment Numbers Show Stability

Workers Comp Employment Numbers Employment numbers for Workers Comp were surprisingly stable over the last few years.  The Insurance Information institute article that I referenced from yesterday’s post on Workers Comp and The Fiscal Cliff  indicated the recent employment numbers for property casualty (P/C) were not diminishing whatsoever. The insurance employment

E-Mods and X-Mods Affected By Lack of Technology

Lack Of Technology – E-Mods and X-Mods All E-Mods and X-Mods are affected directly by technology. In my last post, one of the statistics that jumped off the page caused me to write this blog separately as there is a study that finally relates the lack of technology by Workers

Will There Be Spike In Workers Comp Claims Due to Sandy?

Spike In Workers Comp Claims Post Natural Disaster Hurricane Sandy could cause a spike in Workers Comp claims?   New York, New Jersey, and many other states have felt the impact of Superstorm Sandy.  The hidden increase in economic costs will occur when the rebuilding begins.  I had coined the

California Loss Cost Multipliers Say No To Reform Measures

California Loss Cost Multipliers Do Not Reflect Any Reform Measures The California Loss Cost Multipliers has said no to reforms. Loss Cost Multipliers (LCM’s) are one of the concepts in Workers Comp that I have been covering for many years.  LCM’s are the carriers’ own assessments of risk in the marketplace.

Premium Audit Dispute – DIY- Goes Horribly Wrong

Premium Audit Dispute – DIY A Premium Audit Dispute can go awry if a company is not careful. Last week, I received an email with an audit dispute letter and an additional premium bill from a company in West Virginia. We usually receive one or two of these a month.

NCCI Split Point Debate – Which Employers Will Take the Hit?

NCCI Split Point Debate – Employers End Up Taking The Hit The Split Point Debate points to employers taking the hit.  I had an interesting question earlier this week on the upcoming NCCI Split Point changes. Over the last few weeks, I have received quite a few emails on how

Workers Comp Savings With Two Hours Of Your Time

Workers Comp Savings in 120 Minutes – One For Company Piggy Bank  A Workers Comp savings plan should not cost hours of your time.  One of the first premium reduction questions that we often receive in inquiries is how can we cut our Workers Comp costs and not spend days/hours/weeks

Workers Comp Narcotics – When Does 1% Equal 40% ?

Shocking Statistics on Workers Comp Narcotics The NCCI just released a study today on Narcotics in Workers Comp. The buzz on narcotics/opioids almost rivals fraud. I decided to read the study closely to see if there were any astounding facts. The one statistic that stood out was that 40% of

California Rate Increases Not Due To Current Conditions

California Rate Increases Not Due California’s Workers Comp conundrum was not due to the current medical price increases. The California rate increases were due to not incrementally increasing the rates as medical and other expenses had risen over time. The pundits on California’s Workers Compensation current environment have indicated a

California Workers Comp Costs Growing Quickly

CA Workers Comp Costs The quickly growing Workers Comp costs in California places it as the most expensive state.  I was perusing an article from the Workers Compensation Action Network that contained a few astounding statistics. If you are in CA or want to see what your Workers Comp situation may

Workers Compensation Claim Reserves – The Skinny

WC Claim Reserves Indemnity From an article and a manual, I wrote many years ago. The main WC insurance variable this manual addresses is Claims Reserves (Reserves). THE MOST IMPORTANT THING TO REMEMBER IS THE CLAIMS RESERVES ARE THE UNREGULATED PART OF THE PREMIUM CALCULATION PROCESS. Insurers can set the level

Medicare Set Aside Enforcement Caused Claim Counts To Spiral

Medicare Set Aside Enforcement Caused a Backlog? Did the Medicare Set Aside Enforcement by CMS cause claims count to spiral?   The Medicare Set Asides (MSA’s) for Workers Comp article that I posted on last week is here. I wanted to continue that article. After a few intense calculations, I

Workers Comp Medicare Set Aside Concerns

Workers Comp Medicare Set Aside (WCMSA) There are a few concerns that I have concerning my last post on Workers Comp Medicare Set Aside. The info from the CMS website is in italics. Annuities  Payout totals for all annuities to fund the above expenses should be used rather than cost

WCMSA – So This Is Not Federalization of Workers Comp ?

WCMSA  = Federalization of Workers Comp? The CMS WCMSA requirements could be the first steps in federalization of Workers Comp.  The last paragraph should be of concern to any carrier, employer or TPA. CMS can change the rules as they see fit as I read it. What happens if they

Top Four Self Insured Workers Compensation Success Measurements

Top Four WC Success Measurements Easily Acquired  The Top Four success measurements for self insureds are easy to find in your Workers Comp materials. In my last two posts, I covered how to measure the success (or failure) of a Workers Compensation program. I want to be fair to self insureds

Temporary Total Disability Period Increases Nationwide

Temporary Total Disability Period Claims In a recent workers compensation study by NCCI , the total disability period for injured workers indicated the Temporary Total Disability (TTD) period had increased sharply over the last three years. I decided to check a few numbers their study produced to see if there

Workers Comp Self Insureds LDF Is Experience Mod

Workers Comp Self Insureds Have an LDF The LDF (Los Development Factor) equates to the E-Mod for self insureds.  I have posted a few times in the past on Self Insureds thinking they are out of the Workers Comp E-Mod system. Actually, nothing could be further from the truth. I

Is IBNR (Incurred But Not Reported) Legal And How Is It Calculated?

IBNR – Incurred But Not Reported Is An Estimate  (Incurred But Not Reported) IBNR confused many in the WC community.  When a policy of insurance is written it will typically cover a defined (often 12 month) period from inception of the policy. When the policy is sold, a premium is

Carpal Tunnel Claims Reduced By Almost 50% – Amazing

Carpal Tunnel NCCI When I was looking over the recent report by NCCI, I noticed an incredible figure on the reduction of a certain type of injury. Their September 2010 report, “Workers Compensation Claim Frequency Continues to Decline in 2009” is a treasure trove of great statistics. The one that

Actuary Manages Financial Risk Using Structured Formulas

An Actuary Manages Financial Risk  An actuary manages financial risk using different methods.  An actuary is a business professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs.    Actuaries may

Loss Reserve Stability Definition

Term Of The Day – Loss Reserve Stability An actuary’s ability to project Workers Compensation loss reserve or pricing in the future is based upon numerous inputs. One of those inputs is the amount of time covered by the data. If the actuary has 10 years of data, he/she will be

Correction to Previous Article On Our Website Traffic

Correction On Website Traffic A correction on our Website Traffic on previous article. After almost 600 posts we do occasionally make mistakes. We had earlier said that this blog was in the Top 7% For All Web Traffic. We had used a statistics package with input from a third party

Workers Compensation Bulletin – A Great Free Guide

North Carolina Workers Compensation Bulletin – Great Publication The great free guide for Workers Compensation bulletin is now available.   I have received a few emails recently and have seen posts on LinkedIn about what information should be shared with employees on the Workers Comp system. The following is a

California Workers Comp Rates Stay Low

California Workers Comp Rates The California Workers Comp Rates will be staying low for 2010.  The Workers Compensation Insurance Rating Bureau of California (WCIRB) recently released the December 31, 2009 Summary of Insurer Experience. One of the most interesting statistics was the Average Insurer Rate per $100 of Payroll. The

NCCI State Advisory Symposiums Are Time Well Spent

NCCI State Advisory Symposiums NCCI conference state advisory are worth attending. The National Council on Compensation Insurance (NCCI(r)) provides meetings in most of the states every year where they provide rating information. I am not putting in a plug. I rarely recommend service providers or their services. These conferences are

EMod XMod Changes Coming Soon – Very Important

EMod XMod Changes Upcoming Will Change Premium Audits  WC EMod XMod changes upcoming  may cause a new type of review. As I had posted a few months ago, the NCCI(R) has invented a new way to promulgate (calculate) Experience Modification Factors (E-Mod/X-Mod). I just received notice that the rating bureau

Zenith Insurance’s Marketing Move In California Is Pure Genius

Zenith Insurance’s Marketing Move Was Unique The Zenith Insurance’s marketing program angle involved showing how little they increased their rates. A few California Workers Compensation Insurance carriers have filed lower rates than what is recommended by California’s Workers’ Compensation Insurance Rating Bureau (WCIRB). No matter what the decision California Insurance

In Defense of AIG – Insurance Part Was Functioning Well

In Defense of AIG – The Workers Compensation Part  The defense of AIG for the insurance part of the company made me hesitate.  I had written this post a few weeks ago.  I was just not sure that I wanted to take the heat of defending one of the most

California Employers – 27% Premium Increase Recommended

California Employers May Face Large Premium Increase The California Employers Premium rate increase recommended by the WCIRB tallied at  27%. In my last post, I blogged my thoughts on how the California Workers Comp rates would increase in the coming years.  I had thought there would be an increase of

California Workers Compensation System Amazing Turnaround

California Workers Compensation System Rate Reduced Significantly In Four Years The California Workers Compensation system rate decreased quickly over the last four to five years. While reading through a few on the online publications I receive every day, I came upon a statistic in the California Workers Compensation reform that

Self Insureds And Workers Comp System – Misconceptions

Workers Comp Self Insureds Common Misconceptions I have heard from many self insureds that I do not post often enough about the trials and tribulations of handling a Workers Comp Self Insured Program. They are/were correct. I am going to post a few blogs on self insurance over the next few

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