Claim, Risk and Workers Comp - Insurance Industry Brief

Cyber Risk: West Virginia OIC Plans to Dispose of Older Workers’ Comp Files

Insurance Journal

AUGUST 22, 2024

The West Virginia insurance commissioner’s office has adopted a new policy: It will soon begin destroying workers’ compensation claim files that are 10 years old or older. “Given increasing cybersecurity concerns and the type of information contained in the closed …

Workers Comp

Workers Comp Cyber Compensation Risk

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

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

AMAXX

SEPTEMBER 9, 2024

Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Various medical cost containment strategies play a pivotal role in managing these claims efficiently. These discrepancies can lead to unnecessary claims if not identified and addressed by a qualified medical professional.

Workers Comp

Workers Comp Injury Compensation Workers Compensation

NCCI Event Shines a Light on Workers Comp

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

Workers Comp Workers Compensation Compensation Claim

Blog Post: California: Are Migraine Drugs Becoming a New Workers’ Comp Cost Driver?

LexisNexis

OCTOBER 8, 2024

of the California workers’ comp Migraine Drug spend and by 2021 it represented 8.8% of California workers’ comp migraine prescriptions but at an average of $617 per prescription it represented 8.6% of workers’ comp Migraine prescriptions, but with an average payment of $1,426 it represented 17.2%

Workers Comp

Workers Comp Workers Compensation Compensation Injury

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

AMAXX

JULY 15, 2024

One of the most critical aspects of managing workers’ compensation claims is ensuring that injured employees receive prompt medical treatment. Understanding the importance of quickly reporting claims and reducing lag time is key to preventing such scenarios. Initially, this policy faced controversy and skepticism.

Workers Compensation

Workers Compensation Compensation Claim Workers Comp

Identifying and Preventing Provider Fraud in Workers Comp Cases

Risk Management Monitor

DECEMBER 20, 2022

A chiropractor, for example, conducted illegal medical evaluations and billed these evaluations, claiming that he was approved as a medical legal evaluator. Provider fraud is increasingly prevalent in California and Florida due to each state’s workers comp rules. So, how can we pin down provider fraud?

Workers Comp

Workers Comp Workers Compensation Compensation Claim

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. This prevents delays and ensures that the process moves forward efficiently.

Injury

Injury Workers Compensation Compensation Workers Comp

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

AMAXX

AUGUST 21, 2024

Reserves are the funds set aside by an insurer to cover the future costs of a claim, including medical expenses, lost wages, and other associated costs. However, even the most experienced adjuster can sometimes under-reserve a claim, leading to financial surprises later on. Is the Cost for the Claim for Life?

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

2 Major Types of Transitional Duty in Workers’ Compensation

AMAXX

OCTOBER 8, 2024

These programs offer significant benefits, not only by speeding up recovery but also by minimizing the financial impact of workers’ compensation claims on employers. A patient assistant could take over the patient transfer responsibilities, allowing the nurse to continue working without risk of further injury.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

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

AMAXX

AUGUST 26, 2024

Oh, by the way, if you file that claim, you know that promotion you were thinking about? In Scenario B , Supervisor B’s proactive approach in seeking immediate medical attention reduces the risk of the injury getting worse. appeared first on Amaxx Workers Comp Blog. That’s not going to work out too well for you.”

Injury

Injury Workers Comp Workers Compensation Compensation

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

The Role of an Injury Coordinator in Workers’ Compensation Management

AMAXX

JULY 29, 2024

Claims Management Oversee the workers’ compensation claims process, ensuring timely filing and follow-up. Work with insurance adjusters and third-party administrators to manage and resolve claims efficiently. For additional resources and training, visit WCManual.com.

Workers Compensation

Workers Compensation Injury Compensation Workers Comp

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

AMAXX

JULY 1, 2024

Issues concerning permanent total disability (PTD) benefits are a significant cost driver in workers’ compensation claims. When facing these claims, members of the claim management team and other interested stakeholders need to identify the issues early on, evaluate and develop defenses, and avoid costly mistakes.

Workers Compensation

Workers Compensation Compensation Workers Comp Injury

5 Best Practices for Effective Claims Reviews

Risk Management Monitor

SEPTEMBER 21, 2021

With the cost of insurance for businesses rising across many types of coverage, staying on top of trends in the claims portfolio is more important than ever. 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. Assemble the right team.

Claim

Claim Injury Workers Compensation Risk

Part 2 of 3 – Professional Administration for Medical Settlements: The Medicare Factor

AMAXX

AUGUST 13, 2024

by Andrea Mills, Chief Client Officer, Ametros Settling a workers’ compensation or liability claim can and should be a win-win for the injured individual and the payer. Fortunately, some experts devote their careers to understanding and alleviating the concerns of injured individuals and helping move claims to settlement.

Workers Compensation

Workers Compensation Injury Compensation Workers Comp

How to Strengthen Your Safety Program and Cut Workers Compensation Costs

Risk Management Monitor

JULY 26, 2022

Many companies overlook one key way to control costs that can be easily implemented and managed while also improving work culture overall: implementing a safety program to better manage workers compensation costs. Repetition is key for any new employee learning the ropes, but especially for those workers who are jumping into a new role.

Workers Compensation

Workers Compensation Compensation Claim Building

Federal Court Rejects Intentional Harm Burn Case Filed Against Auto Repair Shop and Holds Only Remedy Lies in Workers’ Compensation Court

New Jersey Workers' Comp

JUNE 20, 2024

In this case, the court observed that the shop owner was exposed to the very same risk. 449 (2012) for the proposition that a violation of a safety code is just one factor in proving an intentional harm claim. Further, just knowing that there is some danger is not the same as having substantial certainty that the danger will occur.

Workers Compensation

Workers Compensation Compensation Injury Claim

Blog Post: Larson’s Workers’ Compensation Law Case Spotlights (Fall 2024)

LexisNexis

SEPTEMBER 9, 2024

Robinson, co-author, Larson’s Workers’ Compensation Law Editorial Note: All section references below are to Larson’s Workers’ Compensation Law, unless otherwise indicated. Illinois Workers’ Comp. Workers’ Comp. Workers’ Comp. Comm’n , 2024 IL App (1st) 230609WC, 2024 Ill. Appeals Bd.

Workers Compensation

Workers Compensation Compensation Injury Workers Comp

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

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. Frequency: The Stronger Driver of Premiums In the world of workers’ compensation, frequency refers to how often claims are filed.

Workers Compensation

Workers Compensation Premium Compensation Workers Comp

Insurance Industry Brief

Cyber Risk: West Virginia OIC Plans to Dispose of Older Workers’ Comp Files

Workers’ Comp Cost Formula To Accurately Assess Your Risk

Trending Sources

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

NCCI Event Shines a Light on Workers Comp

Blog Post: California: Are Migraine Drugs Becoming a New Workers’ Comp Cost Driver?

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

Identifying and Preventing Provider Fraud in Workers Comp Cases

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

5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

2 Major Types of Transitional Duty in Workers’ Compensation

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

Understanding Classification Rules in Workers’ Compensation

The Role of an Injury Coordinator in Workers’ Compensation Management

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

5 Best Practices for Effective Claims Reviews

Part 2 of 3 – Professional Administration for Medical Settlements: The Medicare Factor

How to Strengthen Your Safety Program and Cut Workers Compensation Costs

Federal Court Rejects Intentional Harm Burn Case Filed Against Auto Repair Shop and Holds Only Remedy Lies in Workers’ Compensation Court

Blog Post: Larson’s Workers’ Compensation Law Case Spotlights (Fall 2024)

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

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