JL_risklogo.png

Workers Comp Audit Stress Reducer
Use It For Your Next Premium Audit

Monopolistic

Asia Workers Compensation Error Correction On Old Post

Philippines and Thailand Do Have Policies in Place – My Workers Compensation Error A Workers Compensation error was made by me on one of my old posts.  I had to correct the error once I realized that many Asia countries had Workers Compensation coverage.    Even the countries that are

Hawaii Monopolistic State Fund – Shocking Possibility

The 50th State May Create Hawaii Monopolistic State Fund The idea of a Hawaii Monopolistic State Fund may not just be a subject tossed around by Workers Comp aficionados.   A new piece of legislation referred to as House Bill 2715 may change the Hawaii WC landscape permanently.   Please

Best Workers Comp Markets Are In 14 States

Workers Comp Markets Are In 14 States The best Workers Comp markets in the US exist in 14 states.   According to an annual R Street policy study, these 14 states had the best Workers Comp markets (scored 10 of 10): Alabama Florida Georgia Iowa Illinois Indiana Mississippi North Carolina

Ohio BWC Premium Refunds Issued For $255 Million

Ohio BWC Premium Refunds Possible The Ohio BWC premium refunds were issued this week to 24,140 overcharged employers across the state.   The Ohio BWC originally had an almost $1 billion ruling to pay for premium overcharges. There are many articles on the situation in this blog. The Ohio BWC

Ohio’s BWC Provides 83.5 Moon Roundtrips Overcharging

Ohio’s BWC Provides 83.5 Moon Roundtrips Unsurprisingly, Ohio’s BWC (Bureau of Workers Compensation), a monopolistic state fund,  had  a very scorching court decision rendered against it a few months ago.  Rather than keep appealing the Appeals Court decision, the BWC decided to settle with certain policyholders. If you have not

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

Monopolistic Ohio Overcharges Companies $845,000,000

Monopolistic Ohio Overcharges Mega Amount Monopolistic Ohio and its Workers Compensation bureau had been the center of controversy a few years ago with a few questionable investments.  A judge recently ruled that The Ohio Bureau of Workers Compensation (BWC) overcharged insureds $845,000,000. The average refund payable per each employer is

Monopolistic State Funds vs Competitive State Funds

Monopolistic  vs Competitive State Funds All competitive state funds are a hybrid sort of insurance carrier. A few weeks ago, I posted on whether State Funds are necessary for Workers Compensation coverage. One of the blog readers posted a response which pointed out that State Funds should be analyzed by

State Funds – Are They Really Worth It As Insurers Of Last Resort?

State Funds – Are They Losing Viability? The State Funds that cover just their headquarters state have begun to look elsewhere.  I read today where SCIF (State of California Insurance Fund) has requested legislation where they can expand their coverage into non-California states for their insureds. I was wondering if

Do Monopolistic State Funds Still Exist Today In US

Term Of The Day – Monopolistic State Funds Monopolistic state funds used to be rather numerous in the United States.  The number of monopolistic carriers have dwindled due to states such as Nevada and West Virginia converting to a free market system. The law requires that companies in that state

Pinnacol – Different View – Colorado Agent Disagreed

Different View of Colorado’s Pinnacol  I decided to publish a different view of Pinnacol.  One of my blog readers that is an agent in Colorado disagreed with what I had said about Pinnacol in one of my recent posts. The verbatim quote is in the next few paragraphs. I may

Pinnacol Wants To Become Mutual Company In Near Future

Mutual Company  – Pinnacol Wants To Be One Pinnacol becoming a mutual company generates a litany of tax questions.  One of my devout blog readers has asked why would Pinnacol offer so much $ for its autonomy. I did leave that part out of my last few posts Pinnacol. Pinnacol

Colorado – Pinnacol Is Willing To Pay How Much For What?

Colorado – Pinnacol Is Willing To Pay Recently, I posted an article on Colorado’s Workers Comp carrier Pinnacol offering a staggering figure ($200 million) for autonomy. I had thought that Colorado would take the $ as the Colorado Legislature’s raiding of the company’s surplus to the tune of $500 million

Colorado’s Pinnacol Is Willing To Pay $200,000,000 For What?

Colorado’s Pinnacol Pays $200,000,000 Did Colorado’s Pinnacol just buy its independence?  I usually am able to comprehend most things that happen in the World of Workers Comp. When I read the headlines that Pinnacol is willing to pay $200 million to have more autonomy, I was flabbergasted, to say the

Ohio Workers Comp Crisis Was Rumbling For Few Years

Ohio Workers Comp Crisis Comes To A Head The Ohio Workers Comp crisis reached a fever pitch this month.   I have not mentioned Ohio for a few months. Ohio is one of the few remaining monopolistic state funds where the state is the only insurance carrier. Recently, a county

Washingtons Workers Comp Monopolistic System – Next To Fail?

Washingtons Workers Comp System An internal audit by the State of Washingtons Workers Compensation Department of Labor and Industry (L&I) may be the start of another Workers Comp system converting from a monopolistic system to a private system. West Virginia recently converted their state-run system into a free market. Washington’s

Ohio BWC Overspends $20,000,000 on Pharmacy Program

Ohio BWC Monopolistic State Funds Mismanagement I thought I would leave the Monopolistic State Funds alone as I had bashed them heavily over the last few months. I then read articles last week that pointed out a very large mistake by the Ohio BWC – Bureau of Workers Compensation. The

Ohio BWC (Bureau of Workers Compensation) Loses Major Court Case

Ohio BWC Loses Court Case On Interesting Premium Calculations I had previously posted about how the Ohio BWC  is not acting as a true insurer and is using number voodoo to charge smaller employers outrageous premiums while giving certain employer groups enormous discounts. Ohio small businesses were being discriminated against

Two Monopolistic State Funds Strike Again Recently

Ohio And North Dakota Monopolistic State Funds I do not wish to pick on any of the monopolistic state funds. I have passed over commenting on quite a few articles referring to Ohio and North Dakota. However, these two news items were too major to ignore. North Dakota – A

Monopolistic States Correction Removes Nevada From List

Monopolistic States Number Correction Removes Nevada I had posted incorrectly earlier on monopolistic states. I posted a blog a few months ago that indicated there were six Workers Compensation Monopolistic states. At the time, I had included Nevada. Nevada had already become an open market system. That would leave five

Ohio Monopolistic Workers Comp System Having Problems

Ohio Monopolistic Workers Comp System May Be Up For A Few Changes Did Ohio Monopolistic BWC fail? I have posted on this one a few times in the past. As you can see from the last post, the people that suffer the most from wholesale and somewhat unfounded changes to

Ohio BWC Sued For Creating Privileged Employer Groups

Ohio BWC Created Illegal Preferred Risk Groups Ohio BWC insureds file a huge lawsuit.  Business owners will try to convince a judge that Ohio plays favorites with some companies by offering unfair discounts in money they must pay to the state’s fund for injured workers. Attorneys representing several businesses, including

Monopolistic Funds and Their Problems Back In News

Workers Comp Monopolistic Funds Why do states create monopolistic funds? As I posted yesterday, there are quite a few state-created Workers Comp funds that are having many troubles. The reason for these problems might be the softening of the Workers Comp market. I think there are many problems with state-created funds

Article On Ohio Workers Compensation

Ohio Workers Compensation System Below is an article about Ohio Workers Compensation. Ohio is one of the states that has a state-run Workers Compensation system. I have predicted that all monopolistic Workers Comp systems will eventually fail and/or open up to a free-market system. Ohio’s Workers Comp system basically failed,

Monopolistic Workers Comp States Examined Further

Monopolistic Workers Comp State Funds – Six Remaining Does the monopolistic Workers Comp state funds show any problems?  As of today, there still six states that have monopolistic state funds – They are North Dakota, Ohio, Washington, West Virginia, and Wyoming. West Virginia is still in a monopolistic condition as

State Run Workers Comp Programs All Have One Main Problem

Monopolistic State Run Workers Comp Programs State run Workers Comp programs have experienced many problems. The usual State Fund lacks a major component.  Workers Comp used to be a very simple process where benefits were paid, forms were filed, and everything was copasetic. My, how those times have changed. Workers

Many State Run Workers Compensation Programs Have Faced Problems

Problems  Faced By State Run Workers Compensation Systems The problems experienced by state run workers compensation systems have increased lately. There are many challenges that are faced by state-run Workers Compensation programs. The ones that are most prevalent as of now are: Solvency – Many state funds have had to

Archives

Subscribe

Get the latest workers' comp news FREE!

Name
This field is for validation purposes and should be left unchanged.