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Workers Comp Carriers Fined For Late Reporting To Rate 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 surprise you.   The late reporting referred to in this article stems from insurance carriers habitually reporting the claims data (Total Incurred) late to the rate

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

Workers Comp Safety Innovator Now Thing Of Past – Correction

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 Companies have stopped performing peer reviewed workers comp safety research this week.  The Liberty Mutual workers comp safety facility partnered with outstanding organizations such as:

Ohio Appeals Court Decision Start Privatization Conversation?

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 of the state’s monopolistic Workers Compensation system to a free market system.  The court decision is well worth a quick review.  (Pages 5 -7 and

All Of Our Brickstreet Clients, New Email Address Changes

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 $$$ is filing first reports timely.   Their StreetConnect services should also be used if you want to file your first reports as soon as

Liberty Mutual Creates Their Own Massive Workers Comp Model

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 the database was very informative. I am sure Liberty invested a large amount of time and effort in constructing the model. According to the manager

True Core AIG Was Never Going To Fail – Insurance Part Solid

 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 included a passage from a very recent publication by the US Treasury Department on the TARP program. As I have posted very often, the core

AIG – Government Missed Point

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 THE TREASURY – OFFICE OF FINANCIAL STABILITY Troubled Asset Relief Program: Two Year Retrospective. This is better known as the TARP program. Yes, I did

West Virginia Workers Comp – Was It Ever Subsidized?

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 Daily Mail about Workers Comp being subsidized for governmental entities in WV. I had to disagree with the letter as the author inferred that WV

Five Fixes For Workers Comp In Oklahoma – CompSource Aftermath

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 CompSource. I am under the impression that CompSource will be sold in the future. What could Oklahoma do to help small businesses when there is

Oklahoma’s CompSource Will Not Be Privatized (Yet)

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 privatizing that state’s largest Workers Comp carrier. I have been a big proponent of privatizing Workers Compensation after seeing successes in Nevada and West Virginia.

I Am Going To Agree With Insurance Companies On This Matter

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 that I have to make an exception. I do agree that insurance carriers do not pose a systemic risk to the US financial systems. Systemic

Compsource In Oklahoma – Same Old Story Just Different State

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. One of the hot news items is that Compsource is looking to go private. Compsource is a quasi-governmental insurer of last resort for Workers Compensation

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

If AIG Crashed, Would Rest Of Insurance Market Fail?

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 – National Underwriter.  It was a shocker. The American Insurance Association and Property Casualty Insurers Association of America (PCI) argued their point to Congress.   Their conclusion

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

Insurance Company Bailouts – Question From Article Reader

Insurance Company Bailouts May Be A Common Trend Will insurance company bailouts occur this year?   I received a question a few days ago in response to my post in reference to insurance companies receiving bailouts.  There was an article a few days ago in the National Underwriter that refuted

AIG Failure Would Have An Effect On My Workers Comp Policy?

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 even if they were to completely fail. Each state has a guaranty fund that will keep the claims payments in place. Those payments may be

Oklahoma State Fund Loses Ground To Private Insurers

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 originally from Oklahoma, news from the state on Workers Comp is of high interest to me. In this case, CompSource Oklahoma, the state-created workers’ compensation

Article By George Hohmann on Brickstreet Future Outlook

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 and should not try to insure out of state workers when they are domiciled in a single state. BrickStreet looks forward to flexibility by George

Brickstreet and Apology For Not Posting Articles Over Last Two Weeks

Brickstreet Class Action Pursued By West Virginia Manufacturer This article on Brickstreet appeared in many newspapers and Workers Comp publications last week. My Apologies – due to traveling and being in an area with sketchy WiFi and very slow dial-up service, the blogs have not been tended to for about

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