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Understanding Classification Rules in Workers’ Compensation

AMAXX

Classification rules are guidelines used by rating bureaus and insurance companies to categorize businesses based on the type of work they perform. The higher the risk, the higher the workers compensation premium for that classification. Instead of dreading these audits, be proactive in your approach.

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Summit Expands Workers’ Comp Coverage to Illinois

Insurance Journal

Summit, a regional provider of workerscompensation insurance services, announced the expansion of its coverage into Illinois.

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Understanding the Key Parties in Workers’ Compensation

AMAXX

Navigating workerscompensation 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 workerscompensation system. Their expertise enhances the efficiency and accuracy of the claims process.

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Maryland’s Largest Workers Comp Insurer Files for 8% Rate Cut

Insurance Journal

Chesapeake Employers’ Insurance Co. has filed for an 8% net rate decrease with the Maryland Insurance Administration (MIA) effective April 1, 2025. The nonprofit company also announced its highest-ever policyholder dividend of $55 million for 2025. It is the eighth …

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Understanding the Two Primary Benefits of Workers’ Compensation for Employers

AMAXX

Exclusivity: Protection Against Lawsuits One of the most significant benefits of workers compensation for employers is the exclusive remedy provision. Under this system, employees who accept workers compensation benefits for a work-related injury or illness forfeit the right to sue their employer for negligence.

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Understanding Classification Rules in Workers’ Compensation

AMAXX

Classification rules are guidelines used by rating bureaus and insurance companies to categorize businesses based on the type of work they perform. The higher the risk, the higher the workers’ compensation premium for that classification. Instead of dreading these audits, be proactive in your approach.

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

AMAXX

Medical cost containment is an essential aspect of managing workerscompensation claims effectively. Employers and insurance companies face the challenge of controlling medical costs while ensuring that injured employees receive the care they need.