Why Workers Comp Insurance Carriers Wait Six Months To Report Claims
Workers Comp Insurance Carriers And The Reporting Cycle Why Do Workers Comp Insurance carriers take so damned long to report claims to the rating bureaus
Insurance carriers provide workers compensation coverage for the voluntary insurance market. Most insurance carriers have a number of the associated smaller carriers they own to properly place an employer.
A workers’ compensation insurance carrier is responsible for handling the claims for their insureds, providing safety instruction, and reporting their losses to the respective rating bureaus such as NCCI or the WCIRB.
The insurance carriers provide policies that spell out what they are going to cover in detail in the parts of the policy – Declarations, Insuring Agreements, Conditions, Exclusions, and Endorsements.
The major workers’ comp insurance carriers are Liberty Mutual, Travelers, The Hartford, and others.
The major carriers may be under a different name than other subsidiary carriers that they own.
Insurance carrier administration and governance is supplied by the respective departments of insurance in each state where the carrier writes policies.
Some insurance carriers are Competitive State Funds such as the State Compensation Insurance Fund (SCIF) of California or The Montana State Fund. Some states have monopolistic carriers where only one carrier, sponsored by the state government, is allowed to write workers comp coverage for employers.
Such states, for example, are Ohio and North Dakota. Many monopolistic carriers have struggled in the past as there is no competitive market in the monopolistic states.
These companies are not the same as a Third Party Administrator who handles the claims for self-insureds. The adjusters perform the same jobs in TPAs.
Workers Comp Insurance Carriers And The Reporting Cycle Why Do Workers Comp Insurance carriers take so damned long to report claims to the rating bureaus
Surprising Number of Workers Comp Carriers Fined For Late Reporting The number of Workers Comp carriers fined for late reporting in 2018 and 2019 may
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
A Great Workers Comp Safety Source Closed Down After 60 Years Workers Comp safety peer reviewed research provider has been shut down. Liberty Mutual Insurance
Ohio Appeals Court Decision Could Change BWC A recent Ohio Appeals Court Decision against the Bureau of Workers Compensation (BWC) may possibly start the progression
Our Brickstreet Clients – New Intake Email Address Brickstreet has recently changed their claims intake email address. One of the Five Keys To Saving Workers Comp
Liberty Mutual’s Massive Workers Comp Model A Massive Workers Comp predictive model was recently generated by Liberty Mutual for their internal uses. A video about
AIG TARP Not Needed For Insurance Part The true core AIG is still growing steadily in the Workers Comp arena. In the last post, I
AIG Failure TARP Bailout The Government Missed The Point of AIG.The following is a passage from a document published by the UNITED STATES DEPARTMENT OF
West Virginia Workers Comp Was Subsidized Was West Virginia Workers Comp Carrier Brickstreet subsidized by taxpayers? I was reading a Opinion Letter in the Charleston
Hartford Basically Pays Each Claimant For Fine Hartford pays $72 million penalty for an Annuity administrative charge. The Hartford was recently assessed a huge fine.
Workers Comp In Oklahoma – Five Fixes I wrote five fixes for Workers Comp in Oklahoma to help small businesses. My last post covered Oklahoma’s
Oklahoma’s CompSource Privatization Oklahoma’s Compsource has been the subject of the privatization debate. The Oklahoma House of Representatives did not make a final vote on
I Am Going To Agree With Insurance Companies Rarely do I completely agree with casualty insurance companies on a broad subject. This is one time
Pinnacol Opposes New Colorado Bills In State Legislature Colorado’s Pinnacol opposes quite a few Workers Comp Bills this week. I have seen articles over the
Compsource In Oklahoma The carrier Compsource in Oklahoma may change to a private company. I have been traveling in Oklahoma over the last few days.
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
AIG Crash Effect on Insurance Market If AIG crashed would it result in insurance market failure? An interesting article was published recently in P&C –
In Defense of AIG – The Workers Compensation Part The defense of AIG for the insurance part of the company made me hesitate. I had
Insurance Company Bailouts May Be A Common Trend Will insurance company bailouts occur this year? I received a question a few days ago in
AIG Failure Effect On My Workers Comp Policy If you are covered for Workers Comp by AIG, there will still be coverages for your company
Workers Comp Oklahoma State Fund Shrinks The Oklahoma state fund also known as CompSource has lost more market-share. loses ground in . As I am
New Brickstreet Strategies By George Hohmann This article is by George Hohmann. Check back tomorrow for my opinion on how a Workers Compensation insurance carrier cannot
Brickstreet Class Action Pursued By West Virginia Manufacturer This article on Brickstreet appeared in many newspapers and Workers Comp publications last week. My Apologies –
Web Design in Raleigh By Redwood