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Two Main Reasons Why Workers’ Compensation Costs Skyrocket

AMAXX

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

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Texas Workers’ Comp is Growing, Profitable, Adding Doctors

Insurance Journal

Texas’s worker’s compensation market is stable and steadily growing. The workerscompensation market is one of the few consistently profitable lines in the state, according to the Worker’s Compensation Annual Report 2024 from the Insurance Council of Texas. Texas has …

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4 Step Process to Successfully Settle More Workers’ Compensation Claims

AMAXX

Successfully settling workerscompensation (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.

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Do landscaping companies need workers’ compensation insurance?

InsuranceBee

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

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Physical Therapy, Occupational Therapy, and Vocational Rehab in Workers’ Compensation

AMAXX

This not only benefits the employee but also the employer by reducing workerscompensation 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?

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Understanding Classification Rules in Workers’ Compensation

AMAXX

When it comes to managing workerscompensation, understanding classification rules is fundamental. The higher the risk, the higher the workerscompensation premium for that classification. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk.

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5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

AMAXX

In the complex world of workerscompensation, setting accurate reserves is a critical task for adjusters. 5 Reasons Why WorkersCompensation Reserves Are Higher Than Expected: 1. 5 Reasons Why WorkersCompensation Reserves Are Higher Than Expected: 1. Is the Cost for the Claim for Life?