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Workers Comp Embedded Insurance For Small Business Can Backfire

Workers Comp Embedded Insurance Program To Other Policies Can Workers Comp embedded insurance cause problems later? When I was looking over the usual morning publications that I read for story ideas, I came across a great interview on embedded insurance from AM Best.  Do you subscribe to their daily newsletter? 

How Do I Find Exclusions In My Insurance Policy? Remember DICEE

Exclusions In My Insurance Policy – Look For The First E in DICEE.  The article comes from a reader question – where are the Exclusion in my insurance policy and are they the same as Declarations?  The answer to the question is no the Exclusions in an insurance policy are

Large Deductible Workers Comp Policies – Paying 50% Of Expenses?

Large Deductible Workers Comp Policies May Require 50% Allocated Expense Payment We often perform workers comp policy reviews as part of our premium reduction consultant services.  Large deductible workers comp policies usually have a deductible amount ranging from $100,000 (the minimum) to $5million. The most popular retention level (think car

Worker’s Comp Policy Questions – Readers Top 10 Questions

Worker’s Comp Policy Questions Received From Readers and Google Searchers The number of Worker’s Comp policy questions we receive by email, contact form, and phone always increase exponentially from July through September of each year.  I decided to answer some of the questions received over the last three years. Is

What Is A Guaranteed Cost Program In Workers Compensation?

Article Reader Asks Good Basic Question on Guaranteed Cost Program What is a guaranteed cost program?  Is that the type of policy I have in place now?   A great question on a basic subject was emailed in by one of our new newsletter subscribers. A Guaranteed Cost program means that

Workers Compensation Large Deductible Policies Worth It?

Workers Compensation Large Deductible Policies – Are They A Bargain? Are Workers Compensation large deductible policies worth a look for cutting costs?   One great way to start is by going over the definition of these hybrid-types of policies.    The idea to write this article was generated from quite a

Endorsements – Forgotten Part Of Workers Comp Policy

Workers Comp Endorsements Are Worth a Look The Endorsements section of a Workers Comp policy is not actually a section.   Endorsements on any policy including Workers Comp are always at the end.  Why? A policy may be endorsed many times.  I have seen a few that were endorsed almost

What are Policy Endorsements – Are they important?

Policy Endorsements vs. Dec Page Repetitive Workers Comp policy Endorsements are one of the 10 Red Flags To Possible Overcharges. The Policy Dec Page (also called the Declarations Page) is an important part of any policy.  Workers Comp policies are no exception.  However,  some policies may have a more important

Best Workers Comp Policy and Audit Review Tool

Best Workers Comp Policy And Audit Tool Inexpensive One of the best Workers Comp policy and audit review tools is not some type of overly expensive software or app.    The use of a highlighter and a print out of your complete Workers Comp policy will work wonders for examining your

Large Deductible Mods Do Exist

Large Deductible Mods Large Deductible Mods do exist even if you have been told otherwise.  Your company may have been informed that once you have a large deductible policy in place, E-Mods are a thing of the past. Your company is still in the E-Mod system. This is one of

Workers Comp Policy – Reading It Worth Time And Effort

Workers Comp Policy Should Be Read In-house Reading your workers comp policy may not seem really worth your time.  After all, is that not your agent’s job?  Actually, it is your or someone in your company’s unique responsibility.  Nowhere in any WC policy does it instruct or even advise you

Do The Great Premium Deals Really Save Money?

The Great Premium Deals May Not Be Deals After All Do the great workers comp premium  deals really save money? With prices rising (at least for the short-term) in California and other states, the “we can save you a ton of dough on premiums” vendors  are now appearing again on

Ghost Policies – Five Minutes Of Work Will Let You Know

Five Minutes Of Work Can Spot Ghost Policies Ghost policies for Workers Comp coverage have been in existence for quite some time. I have seen so many of them over the years in the construction industry. There is a very easy way to check to see if the policy is

Large Deductible Program X-Mod (EMod) Surprise For Employers

Employer With Large Deductible In For A Possible Surprise I received a phone call over the recent holiday from a previous client. The company had switched to a large deductible Workers Comp program a few years ago. I did not recommend the program. I had previously thought there were more

Workers Comp Cancellation Notice – Why Did We Receive It?

Employer Received Cancellation Notice Cancelling Workers Comp Policy A Cancellation notice cancelling  a workers comp policy by a Workers Comp carrier can be a frightening experience for a business owner, Risk Manager, CFO, HR manager, or whoever internally handles the Workers Compensation claims for an employer.    We received this question earlier

Premium Audit For Large Deductible Programs

Large Deductible Programs I had been asked this question three times over the last two weeks. “We have a large deductible programs for our Workers Comp.” Can those policies be audited for overcharges?” The three main questions that I asked were: Did your company pay some type of premium to your

Carve Out Programs Look To Reduce Disputes and Costs

Term Of The Day – Carve Out Workers Comp Carve Out tis a hybrid benefit package that applies to just the Workers Comp Policy. An option allowed in some states, including California, where an employer and the union for the employer’s workers agree to collectively bargain a separate schedule of

Mid-policy Assessments Endorsements – Becoming Larger Trend?

Mid-policy Assessments and Endorsements We have received a larger than normal number of calls and emails on mid-policy assessments and/or endorsements. A mid-policy assessment or endorsement should be examined very carefully. A past post on Red Flags that you may have been overcharged lists this as an area of concern.

How Long Is Extended Reporting Period?

Term Of The Day – Extended Reporting Period The Extended Reporting Period never renews its provisions.   This is from one of our claims made policies that we have or previously had in place. This is not necessarily exactly Workers Compensation related. However, i have been involved very often consulting on

Your Workers Comp Policy – Read It From Back To Front

Your Workers Comp Policy – A Different Approach Read  your Workers Comp Policy the opposite way.  One of the areas of Workers Comp policies where most of our clients seem to run into problems is the rules and conditions that are in the policy, but not in the Declarations Page.

Your Workers Comp Dec Page – Know It Or Pay More Premiums

Your Workers Comp Dec Page – Meat Of The Sandwich Your Workers Comp Dec Page – know it or pay more premiums (sometimes a large sum).   In my last post, I summarized the Workers Comp Declarations (Dec) Page. At a bare minimum, you should have the page memorized if

Workers Comp Declarations Dec Page – Not That Important?

Workers Comp Declarations Dec Page Is the Workers Comp Declarations Dec Page really that important? I have often been asked by our clients what to look at in a Workers Compensation policy. In other words, they receive a huge stack of documents known as their Workers Comp policy. The policy

Where Is The Declarations Page (Dec Page) In A Work Comp Policy?

Declarations Page – Critical Workers Comp Term The Declarations Page is the first page of an employers Workers Compensation Policy.    The Workers Compensation industry term is Dec Page.  In fact the Dec Page is actually an insurance industry-wide term and not specific just to Workers Comp.  If your company’s

Guaranteed Cost Is Safest Yet Most Expensive Workers Comp Coverage

Term of the Day – Guaranteed Cost A guaranteed cost plan is the most predictable type of insurance policy. In these policies, the premium is a fixed cost based on the final audited payroll, manual rates, and any applicable pricing programs. It is not subject to adjustment due to losses that

Is Employer’s Liability Really Needed in Workers Comp?

Employer’s Liability Part B on Policies Employer’s Liability Insurance is an additional part of Workers Comp Insurance policies.  While Workers Comp Insurance is designed to cover your employee’s medical and disability expenses, Employer’s Liability Insurance protects your company against lawsuits due to work-related injuries. Employer’s Liability Insurance covers work-related injuries

Workers Comp Large Deductibles And Rating Bureaus

Workers Comp Large Deductibles Still Have E-Mod – Shocker The Workers Comp Large Deductibles have always been reported to the rating bureaus.   Reader Question – We have a large deductible. Our Company is basically self insured. We have heard this comment often lately as larger employers seek to control

Opting Out Can Be Subcontractor Conundrum With Ghost Policy

Opting Out of WC Coverage Using Ghost Policies A subcontractor opting out of workers comp coverage can be tricky to say the least.  I received a great question on my post about certificates of insurance and subcontractors. What happens if a main contract or is a sole proprietor and does

Large Deductible Programs Can Be Reviewed for Premiuim Overcharges

Large Deductible Programs Reviewable For Premium Recoveries Most Large Deductible Programs were ignored by auditors in the employer premium recovery industry for many years. We often hear from very large companies that they are in a large deductible programs and that examining the Workers Comp Audit (by the insurance carrier)

Recession Proof Your Workers Comp Policy Using Accurate Payroll

WC Policy Recession Proof Using Accuracy A Question From One of the Blog Readers – How do I recession proof my workers’ comp policy? The easiest way involves the payroll that your company is reporting for your WC policy. If your company has experienced layoffs, reduction of hours, or any

Retro Policies and Lookback Period Blog Reader Question

Retro Policies Blog Readers Question A Great Retro Policies Question From One of Our Blog Readers – My company has a 5-year Retro Policy. For 3 years of our Workers Comp policy, the rates seemed reasonable. Now, our premiums have skyrocketed. How could this have happened when the premiums were

Workers Comp Policy Mistakes – Which Employers Have More?

Workers Comp Policy Mistakes Occur More In These Employers Workers Comp policy mistakes can be very expensive for employers no matter the source of the errors. What types of employers have the most Workers Comp policy mistakes? We used to have an exhaustive list of employers that listed all of the



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