The Total Incurred figure equals the Indemnity, Medical, and Expenses paid out plus the Indemnity, Medical, and Expenses reserves set by the claims adjuster. Total Incurred = Paid + Reserves. The Total Incurred can be found on all claims loss runs.
Claim Severity – Where One Claim Can Ruin Your Mod The Claim Severity vs. Frequency Effect can result from one claim. One severe claim cannot
Self Insureds Need To Monitor Excess or Reinsurer Notification Do you know if your self insureds has been notified? Workers Compensation excess insurance (reinsurance) can
Workers Comp Reserving Is An Art Should Workers Comp reserving be compared to a Picasso? One of the most difficult tasks that Workers Comp adjusters
Very Important Workers Comp Dates One of the most important Workers Comp dates is upcoming. Timing is everything with reducing your Workers Comp claims and
Important Upcoming Date For January 1 Policies Renewal Over the last few months, I had been covering a plan on how to reduce E-Mods. The
Total Incurred Means Two Different Things In Two Different Places The Total Incurred part of claims reserves consists of the indemnity reserve added to medical
Total Incurred Value Most Important Number The total incurred value is one of the more confusing areas of Worker’s Compensation. The terms are different on
The Total Incurred Formula Generates Premium Base The total incurred formula involves three distinct terms. When I am making a presentation or when I receive
Total Incurred Definition Has Two Variables The Total Incurred definition is the funds that have already been paid out + the Reserves on the file.
Main Workers Comp Question At Presentations and Meetings A great Workers Comp Question was asked by one of our blog readers. This is a question
Workers Compensation Budget Comes From One Group Who is in charge of your Workers Compensation budget that is 100% unregulated? Is it your agent, underwriter,
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