Broker, Risk and Workers Comp - Insurance Industry Brief

Get Started Building Your NEW Workers’ Comp Program in 2025

AMAXX

JANUARY 6, 2025

When embarking on the journey to master workers compensation, the road is well-traveled and marked by proven strategies. Our three components to achieve workers comp mastery are: Framework , Employer Controls , and External Controls. Workers compensation programs are multifaceted, and leaders often struggle to prioritize.

Workers Comp

Workers Comp Building Workers Compensation Compensation

The Case for Injury Duration Guidelines in Modern Workers’ Comp Programs

AMAXX

JANUARY 21, 2025

Promoting Recovery Evidence-based timelines ensure that injured workers receive appropriate treatment without unnecessary delays or interventions. By aligning care with proven recovery pathways, these guidelines foster a quicker return to normal activities and reduce the risk of complications or prolonged disability.

Workers Comp

Workers Comp Injury Workers Compensation Compensation

Understanding the Key Parties in Workers’ Compensation

AMAXX

JANUARY 13, 2025

Lets explore the roles of these critical players in a workers’ compensation system. Insurance Company: The Risk Bearer Often referred to as the underwriter, insurer, or carrier, the insurance company provides the workers’ compensation policy and assumes the employers risk.

Workers Compensation

Workers Compensation Compensation Workers Comp Broker-Agent

Workers’ Comp Cost Formula To Accurately Assess Your Risk

AMAXX

JULY 30, 2024

So this is your premium adjustments, and these are discretionary adjustments that can be given by your underwriter based on how well they perceive you managing your risk, how well they perceive you managing your risk. and why are we gonna try to get this risk up because you’re saying, hey. So let’s talk about this.

Workers Comp

Workers Comp Risk Workers Compensation Injury

The Spaghetti Tower Study: Kindergarteners Can Teach Us About Reducing Workers’ Comp Costs

AMAXX

DECEMBER 19, 2024

In the workers compensation realm, these small steps can have tangible impacts: Earlier Injury Reporting: When employees feel safe to report injuries without fear of retribution, claims can be addressed promptly, reducing medical costs and litigation risks. Do not use this information without independent verification.

Workers Comp

Workers Comp Workers Compensation Injury Compensation

5 Proven Strategies for Physician Oversight to Contain Workers’ Comp Medical Costs

AMAXX

SEPTEMBER 9, 2024

Employers utilizing these strategies can significantly reduce workers’ compensation expenses, improve claim outcomes, and enhance their overall risk management processes. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.”

Workers Comp

Workers Comp Injury Compensation Claim

Understanding the Two Primary Benefits of Workers’ Compensation for Employers

AMAXX

JANUARY 14, 2025

Workers’ compensation programs are a cornerstone of workplace safety and risk management. For employers , it mitigates the risk of expensive and protracted litigation that could arise from workplace injuries. Employer Advantages The exclusivity rule saves employers from significant financial and reputational risks.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

Workers’ Compensation Post-Injury Response Procedure: A Key to Effective Injury Management

AMAXX

SEPTEMBER 16, 2024

Click Link to Access Free PDF Download “Step-By-Step Process To Master Workers’ Comp In 90 Days” The Importance of a Consistent Post-Injury Response A well-documented and standardized post-injury response plan offers multiple benefits. You should consult with your insurance broker, attorney, or qualified professional.

Injury

Injury Workers Compensation Compensation Workers Comp

Understanding Classification Rules in Workers’ Compensation

AMAXX

AUGUST 7, 2024

Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. Each classification is assigned a code, which corresponds to a certain level of risk associated with that type of work. The higher the risk, the higher the workers’ compensation premium for that classification.

Workers Compensation

Workers Compensation Compensation Workers Comp Premium

Quiz: Supervisor Response to a Workplace Injury – How Would You Respond?

AMAXX

AUGUST 26, 2024

In Scenario B , Supervisor B’s proactive approach in seeking immediate medical attention reduces the risk of the injury getting worse. Here’s why adopting Supervisor B’s approach can be beneficial: Reduced Costs and Legal Risks: Compassionate and immediate responses to injuries reduce the likelihood of litigation and associated legal costs.

Injury

Injury Workers Comp Workers Compensation Compensation

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

AMAXX

AUGUST 21, 2024

The need for surgery often signals more serious injuries, which not only have higher immediate costs but also pose substantial risks for future complications. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” All state laws vary.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

Part 1 of 2: Understanding Nurse Case Management and When to Use It

AMAXX

DECEMBER 9, 2024

” Additionally, nurse case managers educate workers about potential risks like medication interactions and the importance of adhering to prescribed treatments. Employee: Builds trust with the injured worker, reducing litigation risk and facilitating quicker recovery and return to work. All state laws vary.

Workers Comp

Workers Comp Compensation Workers Compensation Injury

Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

AMAXX

OCTOBER 24, 2024

By offering physical therapy as part of a rehabilitation plan, employers can speed up recovery and reduce the risk of long-term disability. This not only benefits the employee but also the employer by reducing workers’ compensation costs and minimizing downtime. What Is Occupational Therapy?

Workers Compensation

Workers Compensation Compensation Injury Workers Comp

2 Major Types of Transitional Duty in Workers’ Compensation

AMAXX

OCTOBER 8, 2024

A patient assistant could take over the patient transfer responsibilities, allowing the nurse to continue working without risk of further injury. Examples include volunteering as a reader at a nursing home or helping out at an animal shelter by engaging in light, low-risk activities. All state laws vary.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

AMAXX

SEPTEMBER 23, 2024

This repeated exposure to risk increases the likelihood that larger claims might occur in the future, which alarms underwriters. Since it doesn’t signal a systemic issue, it has less predictive value in determining future risks. More frequent claims increase the employer’s perceived risk, leading to higher premiums over time.

Workers Compensation

Workers Compensation Premium Compensation Workers Comp

Part 2 of 3: Overcoming Return-to-Work Challenges in Union Environments

AMAXX

NOVEMBER 19, 2024

For instance, unions may resist placing an employee in a different role for fear of safety risks. Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%.

Workers Comp

Workers Comp Workers Compensation Injury Building

The Role of an Injury Coordinator in Workers’ Compensation Management

AMAXX

JULY 29, 2024

This blog draws on detailed practices and insights from the Ultimate Guide to Mastering Workers’ Comp Costs; ensuring it aligns with the latest industry standards and regulatory requirements. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.”

Workers Compensation

Workers Compensation Injury Compensation Workers Comp

Avoid 2 Common Pitfalls That Delay Care in Workers’ Compensation Claims

AMAXX

JULY 15, 2024

Stay Informed: Risk managers and HR personnel should stay informed about the workplace environment and maintain open communication with supervisors. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” All state laws vary.

Workers Compensation

Workers Compensation Compensation Claim Workers Comp

5 Best Practices for Effective Claims Reviews

Risk Management Monitor

SEPTEMBER 21, 2021

Spotting problem areas and opportunities sooner makes it easier to develop and implement steps to reduce risk pre-loss and better control costs post-loss. In addition to claims experts, it may also be helpful for the carrier’s loss control team to attend, as well as agent/broker staff.

Claim

Claim Injury Workers Compensation Risk

Part 1: Permanent Total Disability in Workers’ Compensation: Now What?

AMAXX

JULY 1, 2024

The ultimate goal should be to treat all injured employees with respect and dignity while vigorously defending these claims to ensure excessive monies are not spent in handling the file or taking unnecessary risks at the hearing. You should consult with your insurance broker, attorney, or qualified professional. All state laws vary.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

Top 6 Insurance Policies Every IT Business in California Should Have

Jackson & Jackson

NOVEMBER 16, 2024

Running an IT business in California comes with unique risks and challenges. General Liability Insurance Even in a digital world, physical risks exist. Business property insurance protects your physical assets against risks like fire, theft, or natural disasters. Don’t leave your business vulnerable.

Insurance Policy

Insurance Policy Policy General Liability Workers Compensation Insurance

Policy Sabotage Review: Hidden Obstacles to Workers’ Comp Success

AMAXX

JANUARY 28, 2025

The Problem: A widespread mistake is using Across-the-Board Cost Allocation , where workers’ compensation costs are distributed evenly among divisions based on employee count or another arbitrary factor. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers Comp Training Center.

Workers Comp

Workers Comp Policy Workers Compensation Injury

Insurance Industry Brief

Get Started Building Your NEW Workers’ Comp Program in 2025

The Case for Injury Duration Guidelines in Modern Workers’ Comp Programs

Trending Sources

Understanding the Key Parties in Workers’ Compensation

Workers’ Comp Cost Formula To Accurately Assess Your Risk

The Spaghetti Tower Study: Kindergarteners Can Teach Us About Reducing Workers’ Comp Costs

5 Proven Strategies for Physician Oversight to Contain Workers’ Comp Medical Costs

Understanding the Two Primary Benefits of Workers’ Compensation for Employers

Workers’ Compensation Post-Injury Response Procedure: A Key to Effective Injury Management

Understanding Classification Rules in Workers’ Compensation

Quiz: Supervisor Response to a Workplace Injury – How Would You Respond?

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

Part 1 of 2: Understanding Nurse Case Management and When to Use It

Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

2 Major Types of Transitional Duty in Workers’ Compensation

Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

Part 2 of 3: Overcoming Return-to-Work Challenges in Union Environments

The Role of an Injury Coordinator in Workers’ Compensation Management

Avoid 2 Common Pitfalls That Delay Care in Workers’ Compensation Claims

5 Best Practices for Effective Claims Reviews

Part 1: Permanent Total Disability in Workers’ Compensation: Now What?

Top 6 Insurance Policies Every IT Business in California Should Have

Policy Sabotage Review: Hidden Obstacles to Workers’ Comp Success

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