Updated Claims Loss Runs Are Critical To Cost Savings Your WC loss runs should be up to date at all times. Online access is key as carriers and TPA’s will usually allow ad-hoc reports for analyzing loss data. January 1 is the most popular renewal date for Workers Comp policierenees
Loss Run Analysis Second Step To Cutting Workers Comp Costs The Loss Run analysis is the 2nd step to cutting your WC costs. The first step in cutting your WC costs is reading your Workers Comp policy. Online loss runs are the best method of cutting your WC costs
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
Ten Quick Ways – Review Workers Comp Loss Runs Your workers comp loss runs are a very important step in reducing your company’s premiums or insurance budget, NCCI, WCIRB or any rating bureau uses the info that is provided to your company by your insurance carrier. Actuaries will use the
Term Of The Day – Loss Run The loss run is a listing of all Workers Comp claims that a carrier or TPA provides to its insured. They can be ad-hoc (on demand), monthly, or quarterly. The virtual loss run is when the employer can access their claims data by signing
Loss Runs – Important Part Of Claim and Premium Audits We receive questions on loss runs often when we are obtaining the materials that we need to do the Workers Comp premium audits/reviews for employers. We also like to go more in-depth than the insurance company’s auditor. The reason that
Workers Comp Gamble On Your Insurance Premiums Does Workers Comp gamble their insurance premiums? A question from one of our blog readers – I received my Workers Comp policy run. How do I review the loss runs? If I find something that I disagree with on the loss runs, what
Refund on 2003 Corrected Loss Run – Possible? A corrected loss run may not cause a 2003 policy year refund. You corrected a problem on your year 2003 Workers Comp claims loss run. Can you expect a refund of premiums? Under most circumstances, there would be no refund as it
Loss Run Review Question From Reader A Loss Run Review Question From One of our Blog Readers – In one of your earlier blogs, you said that Workers Comp monthly or quarterly loss runs are like gold to an employer. What are the deadlines for reviewing them to try to
Workers Comp Loss Run – Online Is Best Your work comp loss run reviews are beyond critical in cutting your workers comp costs. Obtain a copy of your current Workers Comp loss run for all claims less than 5 years old. If you have online access, that will help greatly.
Most Workers Comp E-Mods And Loss Runs Misconceptions The Workers Comp E-Mods and Loss Runs misconceptions that we have seen are: Only the open claims make a difference on the E-Mod – any claims opened within certain policy periods affect the E-Mod no matter whether they are closed or open
