Insurance Journal

NOVEMBER 21, 2024

The trend of decreasing rates in Connecticut workers’ compensation insurance will continue as the state’s insurance regulator has approved an industry proposed 6% rate decrease beginning January 1, 2025. The now-approved rate filing submitted by the industry’s National Council on …

Workers Compensation 246

Workers Compensation Compensation Insurance Insurer 246

Insurance Journal

NOVEMBER 17, 2024

Delaware Insurance Commissioner Trinidad Navarro announced that workers’ compensation insurance rates will decrease for the eighth year in a row, effective December 1. The voluntary market is expected to decrease average loss costs by 8.4%, and the residual market will …

Workers Compensation 263

Workers Compensation Compensation Insurance Insurer 263

Insurance Journal

SEPTEMBER 5, 2024

The New Hampshire Insurance Department (NHID) reports that it has approved a workers’ compensation rate proposal that will reduce voluntary loss costs by 5.6% on average. The new lower rates will apply to voluntary market policies effective on or after …

Workers Compensation 255

Workers Compensation Compensation Policy Insurance 255

AMAXX

MARCH 4, 2025

By understanding the role fear plays in workers compensation claims, employers can implement strategies to foster trust, improve outcomes, and reduce costs. The Link Between Fear and Litigation Studies have consistently identified fear as a major driver of workers compensation litigation. All state laws vary.

Workers Compensation 82

Workers Compensation Compensation Claim Workers Comp 82

Insurance Journal

DECEMBER 12, 2024

loss cost decrease in the workers’ compensation voluntary market along with rate decreases in the assigned risk market, effective April 1, 2025. Virginia has approved a 12.0% The State Corporation Commission (SCC) approved the proposed voluntary loss costs, along with …

Workers Compensation 239

Workers Compensation Compensation Risk Insurance 239

AMAXX

JANUARY 20, 2025

In the intricate landscape of workers’ compensation, the pursuit of optimal outcomes for injured workers is paramount. Employers, insurers, and healthcare providers face a delicate balance: ensuring injured workers receive appropriate care while effectively managing costs and promoting timely return-to-work.

Workers Compensation 98

Workers Compensation Compensation Workers Comp Injury 98

Insurance Journal

JANUARY 14, 2025

10, 2025 in federal court in Boston for defrauding the Internal Revenue Service (IRS) and Travelers Insurance Co. A Hopkinton man was sentenced on Jan. over wages he paid to employees of his two construction companies. According to U.S. Attorney …

Workers Compensation 264

Workers Compensation Compensation Insurance Insurer 264

Simply Insurance

MARCH 17, 2025

Workers' compensation insurance rates vary by state due to location, industry risks, and policy coverage. The Hartford is a top choice for workers' compensation insurance due to its competitive pricing and comprehensive coverage. The national average cost is approximately $1,128 per year.

Workers Compensation Insurance 52

Workers Compensation Insurance Workers Compensation Compensation Insurer 52

Insurance Journal

JULY 16, 2024

This post is part of a series sponsored by PCF Insurance Services. Frank Fasano, Director of Sales at ToughComp, a PCF business, shares insight from his years of experience working within industries that experience challenges finding affordable workers’ compensation policies.

Workers Compensation 240

Workers Compensation Compensation Risk Policy 240

AMAXX

FEBRUARY 24, 2025

Evidence-Based Medicine (EBM) plays a critical role in workers compensation, guiding both medical professionals and non-medical stakeholders in making informed decisions about injury treatment, recovery time, and return-to-work strategies. You should consult with your insurance broker, attorney, or qualified professional.

Workers Compensation 66

Workers Compensation Compensation Workers Comp Injury 66

LexisNexis

FEBRUARY 28, 2025

Rassp, Presiding Judge, Los Angeles WCAB Disclaimer: The material and any opinions contained in this article are solely those of the authors and are not the opinions of the Department of Industrial Relations, Division of Workers Compensation, or the WCAB, or any other entity or individual. as in civil actions.

Workers Compensation 73

Workers Compensation Compensation Claim Injury 73

Insurance Journal

NOVEMBER 19, 2024

AM Best has assigned a Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Rating of “a-” (Excellent) to Standard and Preferred Insurance Co. of Kew Gardens, New York. The outlook assigned to these ratings is stable. AM Best …

Workers Compensation 239

Workers Compensation Compensation Insurance Insurer 239

Insurance Journal

APRIL 6, 2025

Maine has approved the insurance industry’s filing that will lower workers’ compensation insurance loss costs an average of 9.6%. The lower loss costs will go into effect for new and renewing policies as of April 1, 2025. According to Superintendent …

Workers Compensation 147

Workers Compensation Compensation Insurance Industry Policy 147

Insurance Journal

APRIL 10, 2025

The Pennsylvania Insurance Department (PID) has approved a workers’ compensation filing with an 8.67% reduction in loss costs. New or renewal policies issued on or after April 1, 2025 will be subject to the new loss costs. Because loss costs …

Workers Compensation 147

Workers Compensation Compensation Policy Insurance 147

Rough Notes

FEBRUARY 28, 2025

Harrington, CPCU If youre allergic to excitement, there are two things you can do: watch grass grow or monitor recent changes in the operating results for workers compensation insurance. Stability in the market brings its own challenges By Joseph S. No news is good news, the saying goes.

Workers Compensation 52

Workers Compensation Compensation Workers Compensation Insurance Commercial 52

AMAXX

FEBRUARY 24, 2025

If you review the insurer’s file notes online and do not see NCM notes, contact the NCM for an update. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering Workers Comp Costs: Reduce Costs 20% to 50%. You should consult with your insurance broker, attorney, or qualified professional.

Workers Compensation 66

Workers Compensation Workers Comp Compensation Claim 66

Insurance Journal

SEPTEMBER 30, 2024

Connecticut workers’ compensation insurers are recommending an overall 6.1% reduction in loss costs in the voluntary market and a 6.2% overall reduction in the assigned risk market for next year. If the recommendation is approved, it would mark the eleventh …

Workers Compensation 147

Workers Compensation Compensation Risk Insurance 147

AMAXX

JANUARY 13, 2025

Navigating workers’ compensation can be complex, with various parties working together to ensure effective claims management and cost containment. Lets explore the roles of these critical players in a workers’ compensation system.

Workers Compensation 98

Workers Compensation Compensation Workers Comp Broker-Agent 98

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?

Workers Compensation Insurance 85

Workers Compensation Insurance Workers Compensation Compensation Workers Comp 85

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.

Workers Compensation 102

Workers Compensation Compensation Workers Comp Premium 102

LexisNexis

FEBRUARY 5, 2025

By Christopher Mahon, LexisNexis Legal Insights Contributing Author A September 2024 study from the Workers Compensation Research Institute indicates that workers represented by an attorney in workers compensation claims receive substantially more payments than workers who are not represented by an attorney.

Workers Compensation 49

Workers Compensation Compensation Injury Claim 49

AMAXX

JANUARY 14, 2025

Workers’ compensation programs are a cornerstone of workplace safety and risk management. Exclusivity: Protection Against Lawsuits One of the most significant benefits of workers compensation for employers is the exclusive remedy provision.

Workers Compensation 98

Workers Compensation Compensation Workers Comp Injury 98

Insurance Journal

JULY 14, 2024

reduction in workers’ compensation rates–a cut that is almost twice the size of what the insurance industry’s rating bureau proposed in its filing. Massachusetts businesses will see an average 14.6% The lower rates go into effect on July 1, 2024.

Workers Compensation 130

Workers Compensation Compensation Insurance Industry Insurance 130

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 105

Workers Compensation Compensation Workers Comp Injury 105

Insurance Journal

OCTOBER 14, 2024

In the complex world of Workers’ Compensation and General Liability (GL) insurance, underwriters face the challenge of managing diverse carrier systems while ensuring compliance and maintaining efficiency. This post is part of a series sponsored by Selectsys. To overcome these …

Underwriter 130

Underwriter Underwriting Workers Compensation Compensation 130

AMAXX

DECEMBER 2, 2024

At the heart of this process is the medical director, medical department, or consultant, who plays a pivotal role in interpreting medical jargon and facilitating smooth communication between medical professionals, injured employees, and the workers’ compensation team.

Workers Compensation 93

Workers Compensation Compensation Injury Workers Comp 93

AMAXX

MARCH 18, 2025

While using an approved network is necessary for insurance and cost-control reasons, not all doctors within the network are equally effective at managing workplace injuries. Consider the case of Jane, a worker who sustained a severe back injury. One provider accepted workers compensation but was not taking new patients.

Workers Comp 94

Workers Comp Workers Compensation Injury Compensation 94

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?

Workers Compensation 105

Workers Compensation Compensation Workers Comp Injury 105

Insurance Journal

FEBRUARY 6, 2025

A manufacturer and its workers compensation insurer thought an injured 60-year old service technician employee did not work hard enough to find a suitable replacement job as required to qualify for wage loss benefits. Among other things, he did not …

Workers Compensation 200

Workers Compensation Workers Compensation Insurance Compensation Claim 200

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. You should consult with your insurance broker, attorney, or qualified professional. All state laws vary.

Workers Compensation 104

Workers Compensation Compensation Workers Comp Injury 104

AMAXX

OCTOBER 24, 2024

This not only benefits the employee but also the employer by reducing workers’ compensation costs and minimizing downtime. Occupational therapy (OT) is similar to physical therapy but focuses more on helping workers regain the specific physical abilities they need to perform their job duties. What Is Occupational Therapy?

Workers Compensation 105

Workers Compensation Compensation Injury Workers Comp 105

AMAXX

SEPTEMBER 16, 2024

This helps in managing workers’ compensation costs more effectively, as the employer takes the lead in coordinating care and managing the return-to-work process. Proper documentation not only aids in managing the workers’ compensation claim but also helps protect the employer against potential legal challenges.

Injury 105

Injury Workers Compensation Compensation Workers Comp 105

AMAXX

NOVEMBER 5, 2024

Successfully settling workers’ compensation (WC) claims can significantly reduce costs and streamline processes for employers and insurers. This four-step process not only reduces costs but also fosters better outcomes for injured workers and employers alike. All state laws vary.

Workers Compensation 105

Workers Compensation Compensation Claim Workers Comp 105

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 91

Workers Compensation Premium Compensation Workers Comp 91

Insurance Journal

SEPTEMBER 15, 2024

EverPeak Insurance is launching operations in Arizona. EverPeak specializes in workers’ compensation coverage for small businesses and those in hard-to-place industries. EverPeak workers’ comp insurance is written on Attune, which has more than 400 class codes that enable agents to …

Compensation 278

Compensation Insurer Insurance Insured 278

Insurance Journal

JULY 12, 2024

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …

Workers Comp 290

Workers Comp Premium Compensation Insurer 290

Insurance Journal

NOVEMBER 18, 2024

A construction industry captive insurer along with three construction contractors have filed a lawsuit alleging a massive New York fraud scheme involving staged workplace accidents and bogus workers’ compensation and personal injury lawsuits backed by complicit lawyers and medical providers.

Injury 299

Injury Compensation Claim Insurer 299