Your Workers Comp Policy – Read It From Back To Front

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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. When one of our client sends us their policy, we always read it back to front. The front is the obvious part.

Vector Graphic Of Gavel and books Workers Comp Policy On Table
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A Workers Comp policy has many rules and regulations that heavily affect areas such as disputing an audit, cancellation, and many other parts just as important as what is in the first few pages. The advice we usually give is to read the policy from back to front, in other words – read the fine print.

Another helpful piece of advice is that not all policies read the same. Each time you switch Workers Comp insurers, the polices can differ greatly after the first few pages. There are state rules that govern the policies. However, the states do not dictate how each policy is to be written in each and every case.

As noted by NCCI(R), Workers Compensation is becoming more expensive per unit of coverage. Knowing what is in your policy is another great cost saver. If you have questions about your policy, email your agent and ask them and/or Google(R) the term.

Reading the policy from back to front may take about an hour. It is an hour well spent.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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