Insurance Journal

SEPTEMBER 9, 2024

A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workers’ compensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …

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Premium Workers Comp Compensation Workers Compensation 263

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 279

Workers Comp Cyber Compensation Risk 279

Insurance Journal

AUGUST 13, 2024

The National Council on Compensation Insurance is recommending a 9.1% decrease in workers’ compensation loss cost projections for the West Virginia voluntary market. If approved by regulators, it would mark the 20th straight year of rate decreases for the state, …

Workers Comp 261

Workers Comp Compensation Insurer Insurance 261

Insurance Journal

AUGUST 25, 2024

FCBI, a self-insurance fund founded 45 years ago to provide workers’ compensation plans to Florida citrus growers, is expanding well beyond the Sunshine State with the acquisition of MidSouth Mutual Insurance Co. in Tennessee. MidSouth has been demutualized and has …

Workers Comp 278

Workers Comp Compensation Insurer Insurance 278

Insurance Journal

OCTOBER 2, 2024

The road construction firm that employed six workers who were killed and another who was seriously injured in the collapse of Baltimore’s Key Bridge, along with its workers’ compensation carrier, have filed claims against the owner and operator of the …

Workers Comp 203

Workers Comp Compensation Claim Insurer 203

AMAXX

OCTOBER 7, 2024

Claims audits and reviews are one of the most commonly used tactics by companies to control workers’ compensation costs. A follow-up date to verify all state-required forms have been filed with the state work comp board. You should consult with your insurance broker, attorney, or qualified professional.

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Workers Comp Claim Workers Compensation Compensation 86

Insurance Journal

SEPTEMBER 3, 2024

Annual workers’ compensation rate cuts in the double digits have become routine in almost every U.S. That trend may have now come to an end in Florida, where the National Council on Compensation Insurance is recommending … state in recent years.

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Workers Comp Compensation Workers Compensation Insurer 279

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

Insurance Journal

JULY 31, 2024

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its …

Premium 276

Premium Workers Comp Compensation Workers Compensation 276

AMAXX

OCTOBER 15, 2024

One of the most significant challenges for employers today is managing the rising costs of workers’ compensation claims. This post will dive into the two primary reasons why workers’ compensation costs are often higher than they should be, and how employers can take charge of the process to reduce those expenses.

Workers Compensation 86

Workers Compensation Compensation Workers Comp Injury 86

Insurance Journal

SEPTEMBER 10, 2024

The board of SAIF, a not-for-profit workers’ compensation insurer in Oregon, declared a $60 million dividend for their current policyholders. The funds will start being dispersed starting in October, with 51,288 policyholders receiving the dividend, which as determined based on …

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Policyholder Workers Comp Compensation Workers Compensation 147

AMAXX

SEPTEMBER 10, 2024

Efficient Communication of Medical Records Communication is critical, especially when it comes to sharing medical records with insurance claims adjusters or your company. Willingness to Handle Workers’ Compensation Cases Workers’ compensation cases come with unique requirements and responsibilities.

Workers Comp 83

Workers Comp Workers Compensation Compensation Injury 83

Mark Jackson Insurance Agency

APRIL 15, 2024

Worker Using an Angle Grinder by Anamul Rezwan Business owners have multiple types of insurance to protect them from a variety of financial and legal risks. They should also protect their employees with workers’ comp insurance. Here’s what you need to know about this type of insurance coverage.

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Workers Comp Protection Commercial Umbrella Workers Compensation 52

AMAXX

OCTOBER 1, 2024

When managing workers’ compensation, a claim audit or review is a crucial opportunity for employers, carriers, TPAs (Third-Party Administrators), and brokers to come together and optimize claim-handling practices. However, this approach is unproductive. Instead of pointing fingers, focus on constructive dialogue.

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Workers Comp Claim Workers Compensation Compensation 74

Insurance Journal

AUGUST 29, 2024

Los Angeles area vocational school owner, Guillermo Frias, 65, of Paramount, and the school’s accounting manager, Yesid Colon, 54, of Baldwin Park, were arraigned following a California Department of Insurance investigation into allegations they submitted fraudulent claims to receive money …

Workers Comp 246

Workers Comp Claim Insurer Insurance 246

Insurance Journal

JULY 14, 2024

By Jahna Jacobson Inflation is cooling, employment growth is normalizing and the workers’ compensation outlook is good, according to a national economist specializing in workers’ compensation.

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Workers Comp Casualty Insurance Compensation Insurance Industry 130

InsuranceBee

JULY 23, 2024

When you’re running a landscaping or lawn care business, one of the most crucial questions you can ask yourself is: do I need workers’ compensation insurance? Frankly, with workers’ comp, there’s little to no gray area. The post Do landscaping companies need workers’ compensation insurance?

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Workers Compensation Insurance Workers Compensation Compensation Workers Comp 52

AMAXX

SEPTEMBER 9, 2024

Medical cost containment is an essential aspect of managing workers’ compensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need. Proper timing is also essential to avoid unnecessary delays.

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Workers Comp Injury Compensation Workers Compensation 74

Property Insurance Coverage Law

AUGUST 30, 2024

Employer’s liability insurance protects businesses from lawsuits filed by employees who have suffered a work-related injury or illness. appeared first on Property Insurance Coverage Law Blog.

Liability Insurance 107

Liability Insurance Liability Workers Comp Workers Compensation Insurance 107

Mark Jackson Insurance Agency

JUNE 17, 2024

Man Drilling into a Wooden Board by Thijs van der Weide Workers' compensation insurance is a fundamental aspect of running a business, providing vital protection for both employers and employees. This insurance covers medical costs, rehabilitation, and lost wages for employees who are injured or become ill at work.

Workers Compensation Insurance 52

Workers Compensation Insurance Workers Compensation Compensation Workers Comp 52

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 includes gathering witness statements and creating an incident report.

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Injury Workers Compensation Compensation Workers Comp 85

AMAXX

AUGUST 21, 2024

In the complex world of workers’ compensation, setting accurate reserves is a critical task for adjusters. 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. Is the Cost for the Claim for Life?

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Workers Compensation Compensation Workers Comp Injury 92

AMAXX

AUGUST 7, 2024

When it comes to managing workers’ compensation, understanding classification rules is fundamental. Classification rules are guidelines used by rating bureaus and insurance companies to categorize businesses based on the type of work they perform. This can free up resources for other areas of your business.

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Workers Compensation Compensation Workers Comp Premium 74

Triple-I: Workers Compensation

JUNE 10, 2024

William Nibbelin, Senior Research Actuary, Triple-I The recent National Council on Compensation Insurance (NCCI) Annual Insights Symposium (AIS) in Orlando, Fla., provided important context and clarity around the state of the workers compensation line of business. most profitable) in the past five years.

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Workers Comp Workers Compensation Compensation Claim 40

AMAXX

OCTOBER 8, 2024

In the world of workers’ compensation, one of the most powerful strategies for managing costs while helping injured employees return to work is the implementation of a transitional duty (TD) program. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center.

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Workers Compensation Compensation Workers Comp Injury 78

AMAXX

JULY 30, 2024

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%. You should consult with your insurance broker, attorney, or qualified professional.

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Workers Comp Risk Workers Compensation Injury 52

LexisNexis

OCTOBER 15, 2024

percent in the year ending March 31, 2024, which will result in an increase in California workers’ compensation temporary total disability (TTD) and permanent total disability (PTD) rates for 2025 work injury claims and other workers’ compensation benefits that are tied to SAWW increases. from the current $242.86

Workers Comp 70

Workers Comp Workers Compensation Injury Compensation 70

AMAXX

JULY 29, 2024

In the realm of workers’ compensation, the role of an injury coordinator is pivotal. Based on the comprehensive guide from the Workers’ Compensation Manual, this blog will explore the responsibilities, best practices, and significance of an injury coordinator in an organization.

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Workers Compensation Injury Compensation Workers Comp 52

Triple-I: Workers Compensation

AUGUST 15, 2023

By Loretta Worters, Vice President, Media Relations, Triple-I When Victoria Aumiller , AIC, WCP, claims specialist, Chesapeake Employers Insurance came to the organization 14 years ago, she didn’t realize how meaningful her job would be. It’s a day of celebration, not only for workers comp.

Workers Comp 40

Workers Comp Workers Compensation Compensation Injury 40

AMAXX

JULY 15, 2024

One of the most critical aspects of managing workers’ compensation claims is ensuring that injured employees receive prompt medical treatment. Unfortunately, a common procedural mistake can leave employees in a painful and detrimental limbo: the delay of care due to technicalities in insurance coverage.

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Workers Compensation Compensation Claim Workers Comp 52

AMAXX

JULY 1, 2024

Issues concerning permanent total disability (PTD) benefits are a significant cost driver in workers’ compensation claims. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.” appeared first on Amaxx Workers Comp Blog.

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Workers Compensation Compensation Workers Comp Injury 52

Triple-I: Workers Compensation

JULY 27, 2023

Workers compensation insurance provides for the cost of medical care, rehabilitation, and wage replacement for injured workers and death benefits for the dependents of persons killed in work-related accidents. Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers.

Workers Comp 40

Workers Comp Workers Compensation Workers Compensation Insurance Compensation 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

AMAXX

AUGUST 12, 2024

In workers’ compensation, communication with injured workers is a critical aspect that can significantly influence the outcome of a claim. Proper communication helps facilitate a smooth return-to-work process and plays a crucial role in maintaining the injured worker’s morale and engagement with the organization.

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Workers Comp Workers Compensation Injury Compensation 88

Triple-I: Workers Compensation

SEPTEMBER 23, 2022

Max Dorfman, Research Writer, Triple-I The workers compensation field is “responding and adapting remarkably well to economic changes,” according to Donna Glenn , chief actuary, National Council on Compensation Insurance (NCCI). Strong employment and wages are on the rise, fueling the workers comp system,” Glenn said.

Workers Comp 52

Workers Comp Workers Compensation Compensation Claim 52

AMAXX

AUGUST 26, 2024

The lack of support and the implied threat regarding the promotion could lead the employee to seek legal counsel to protect their rights and secure compensation for their injury. By preventing injuries from worsening and minimizing disputes, companies can significantly reduce their workers’ compensation costs.

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Injury Workers Comp Workers Compensation Compensation 91

Triple-I: Workers Compensation

FEBRUARY 10, 2022

Despite early “dire estimates” of how the COVID-19 pandemic might affect the workers compensation insurance sector, the system has proved to be resilient, according to Bill Donnell, president and CEO of the National Council on Compensation Insurance (NCCI). Workers comp plays a critical role in the U.S.

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Workers Comp Workers Compensation Workers Compensation Insurance Compensation 52