Insurance Journal

OCTOBER 8, 2024

California workers’ compensation written premium in 2023 was slightly above 2022, while written premium for the first six months of 2024 is 2% lower than the first six months of 2023, a new report shows. The Workers’ Compensation Insurance Rating …

Premium 277

Premium Workers Comp Compensation Workers Compensation Insurance 277

Insurance Journal

JULY 29, 2024

The California workers’ compensation system has been relatively stable in the post-pandemic era, as premium levels rose by 1% in 2023 and are forecast to increase modestly in 2024—while decreases in average insurer charged rates are moderating, a new report …

Workers Comp 263

Workers Comp Compensation Premium Workers Compensation 263

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. You’re gonna have to some of these premium adjustments. We’ve got things under control based on your mod.

Workers Comp 52

Workers Comp Risk Workers Compensation Injury 52

AMAXX

SEPTEMBER 23, 2024

When it comes to calculating workers’ compensation premiums, two critical factors play a significant role: the frequency and severity of claims. Understanding how these two factors interact can help businesses reduce their premiums and improve workplace safety.

Workers Compensation 59

Workers Compensation Premium Compensation Workers Comp 59

Triple-I: Workers Compensation

JUNE 10, 2024

I recently assumed responsibility for forecast modeling of the property/casualty industry, which includes workers comp. According to NCCI, the success of the workers comp line in recent years represents the convergence of three factors: Payroll increases Moderate severity increases, and Larger-than-expected frequency declines.

Workers Comp 40

Workers Comp Workers Compensation Compensation Claim 40

Risk Management Monitor

DECEMBER 20, 2022

Claimant fraud and premium fraud are two of the most well-known types of workers compensation fraud. In these cases, a worker may intentionally fake an injury (claimant fraud) or a business owner may misrepresent their employee headcount or incorrectly classify employees to obtain lower insurance premiums.

Workers Comp 40

Workers Comp Workers Compensation Compensation Claim 40

Triple-I: Workers Compensation

JULY 27, 2023

Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. While current trends bode well for workers comp, the industry needs to recognize and be responsive to emerging issues that may affect the line going forward.

Workers Comp 40

Workers Comp Workers Compensation Workers Compensation Insurance Compensation 40