AMAXX

FEBRUARY 18, 2025

When it comes to managing workers’ compensation, understanding classification rules is fundamental. These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. This can free up resources for other areas of your business.

Workers Compensation 103

Workers Compensation Compensation Workers Comp Premium 103

AMAXX

MARCH 24, 2025

When an employer receives a revised workers’ compensation premium bill, the accuracy of the bill can be uncertain and confusing. To ensure fairness and correctness, an independent premium audit is highly recommended. It is crucial to segregate payroll accurately by the correct classification codes.

Workers Comp 71

Workers Comp Premium Injury Workers Compensation 71

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

MARCH 24, 2025

In this final part of our series exploring the nine elements of independent premium audits, we turn our focus to specialized situations and nuanced adjustments auditors carefully evaluate. Auditors disallow estimates, making precise documentation vital to receiving the intended premium savings associated with this exception.

Workers Comp 59

Workers Comp Premium Workers Compensation Compensation 59

Insurance Journal

SEPTEMBER 12, 2024

Oregon employers will pay on average less for workers’ compensation coverage in 2025. The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium rate. Employers …

Premium 147

Premium Workers Comp Compensation Workers Compensation 147

AMAXX

MARCH 18, 2025

Many companies operate under an unwritten rule: accept every workers compensation claim, no questions asked. A well-managed workers compensation program should pay 100% of legitimate claimsand 0% of the claims that arent. Employees come to believe that every claim will be accepted, regardless of the circumstances.

Workers Compensation 71

Workers Compensation Compensation Claim Workers Comp 71

Triple-I: Workers Compensation

FEBRUARY 14, 2025

By William Nibbelin, Senior Research Actuary, Triple-I The workers compensation insurance industry experienced its second-best underwriting result in the past 20 years in 2023, with a net combined ratio of 87, according to Triple-Is latest Issues Brief. A combined ratio under 100 indicates a profit. A ratio above 100 indicates a loss.

Workers Comp 40

Workers Comp Premium Workers Compensation Workers Compensation Insurance 40

Insurance Journal

DECEMBER 23, 2024

DADEVILLE, Ala. (AP) AP) A storm was looming when the inmate serving 20 years for armed robbery was assigned to transport fellow prisoners to their jobs at private manufacturers supplying goods to companies like Home Depot and Wayfair. It didn’t …

Workers Comp 277

Workers Comp Workers Compensation Premium Compensation 277

AMAXX

MARCH 11, 2025

Effectively managing workers compensation requires careful oversight and proactive measures to identify and prevent fraudulent or exaggerated claims. Large claims can have significant long-term impacts on premiums, experience modification factors, and overall workers’ compensation costs.

Workers Comp 52

Workers Comp Claim Workers Compensation Injury 52

Insurance Journal

FEBRUARY 14, 2025

Premium renewal rates increased year over year for all major commercial lines, except workers’ compensation, according to the January 2025 results of the Ivans Index. Month over month, commercial auto, business owners policy (BOP), and commercial property experienced decreases in …

Commercial 147

Commercial Workers Comp Business Owners Policy Commercial Property 147

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 91

Workers Compensation Premium Compensation Workers Comp 91

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. Their expertise enhances the efficiency and accuracy of the claims process.

Workers Compensation 98

Workers Compensation Compensation Workers Comp Broker-Agent 98

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

AMAXX

AUGUST 7, 2024

When it comes to managing workers’ compensation, understanding classification rules is fundamental. These rules not only influence the amount you pay in premiums but also help ensure that your company is correctly classified based on the work it performs. This can free up resources for other areas of your business.

Workers Compensation 102

Workers Compensation Compensation Workers Comp Premium 102

AMAXX

JANUARY 15, 2025

Click Link to Access Free PDF Download “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact” Things that we don’t understand can seem a lot more difficult than they actually are. This is the actual costs of the claims that were legitimate claims for workers’ compensation.

Workers Comp 95

Workers Comp Workers Compensation Premium Compensation 95

AMAXX

MARCH 4, 2025

By shifting your perspective from compliance-as-burden to compliance-as-advantage, you can leverage OSHA requirements to create a safer, more productive workplace, reduce workers compensation costs , and enhance your company’s reputation. Heres how: 1. OSHA Compliance as a Cost-Saving Strategy Workplace injuries are expensive.

Workers Comp 71

Workers Comp Workers Compensation Injury Compensation 71

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 64

Workers Comp Risk Workers Compensation Injury 64

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. percent and below the 3.5

Workers Comp 40

Workers Comp Workers Compensation Compensation Claim 40

LexisNexis

DECEMBER 2, 2024

Oakland, CA -- The California Department of Industrial Relations (DIR) has issued the 2025 assessments that workers’ compensation insurers are required to collect from policyholders to cover the budget of the state Division of Workers’ Compensation (DWC) and five related programs set up by state lawmakers.

Workers Comp 40

Workers Comp Workers Compensation Policyholder Premium 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

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.

Workers Comp 52

Workers Comp Workers Compensation Workers Compensation Insurance Compensation 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

LexisNexis

NOVEMBER 8, 2024

Robinson, Co-Editor-in-Chief, Workers’ Compensation Emerging Issues Analysis ( LexisNexis ) (This article is excerpted from the upcoming 2024 Edition of Workers’ Compensation Emerging Issues Analysis (LexisNexis). By Thomas A. Section numbers below refer to the text in that book.

Workers Compensation 40

Workers Compensation Compensation Injury Claim 40

Insurance Journal

APRIL 21, 2025

The Workers’ Compensation Insurance Rating Bureau of California’s governing committee on Wednesday voted to authorize the WCIRB to submit a September 1, 2025 Pure premium rate filing on average 11.2% percent above the average approved September 1, 2024 advisory pure …

Premium 254

Premium Workers Comp Compensation Workers Compensation Insurance 254

AMAXX

FEBRUARY 10, 2025

Click Link to Access Free PDF Download “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact” Whatwe’retryingtodohere,whatdidnotwhatnecessarilywe,whattheinsurancecarriers,whattheunderwriterstryingtodoisthey’retryingtogetanaccurateperceptionofrisk.

Workers Comp 66

Workers Comp Risk Workers Compensation Premium 66