Insurance Journal

DECEMBER 1, 2024

The average cost of workers’ compensation insurance in Washington will go up about 3.8% Employers and workers together will pay on average roughly $1 per week more for each … in 2025, the Washington State Department of Labor & Industries announced.

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Workers Comp Premium Compensation 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.

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Workers Comp Premium Workers Compensation Compensation 59

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 …

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Workers Comp Compensation Premium Workers Compensation 263

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.

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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 …

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Workers Comp Workers Compensation Premium Compensation 277

AMAXX

FEBRUARY 18, 2025

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. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. What Are Classification Rules?

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Workers Compensation Compensation Workers Comp Premium 103

AMAXX

MARCH 11, 2025

Large claims can have significant long-term impacts on premiums, experience modification factors, and overall workers’ compensation costs. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering Workers Comp Costs: Reduce Costs 20% to 50%. All state laws vary.

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AMAXX

MARCH 18, 2025

An effective injury investigation ensures that only valid claims proceed, protecting both the company and legitimate injured workers. When employees understand that workers compensation is not a blank check, they are less likely to attempt questionable claims.

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Workers Compensation Compensation Claim Workers Comp 71

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

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Workers Comp Workers Compensation Premium Injury 95

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.

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Workers Compensation Premium Compensation Workers Comp 91

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.

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Workers Comp Risk Workers Compensation Injury 64

AMAXX

JANUARY 14, 2025

By participating in the workers compensation system, employers can avoid these challenges, maintain focus on their business goals, and foster a stable work environment. Click Link to Access Free PDF Download “Step-By-Step Process To Master Workers Comp In 90 Days” 2.

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Workers Compensation Compensation Workers Comp Injury 98

AMAXX

JANUARY 13, 2025

Lets explore the roles of these critical players in a workers’ compensation system. Insurance Company: The Risk Bearer Often referred to as the underwriter, insurer, or carrier, the insurance company provides the workers’ compensation policy and assumes the employers risk.

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Workers Compensation Compensation Workers Comp Broker-Agent 98

AMAXX

MARCH 4, 2025

Data from OSHA and the National Safety Council consistently show that businesses that invest in safety programs experience lower insurance premiums, fewer lost workdays, and improved productivity. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering Workers Comp Costs: Reduce Costs 20% to 50%.

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Workers Comp Workers Compensation Injury Compensation 71

AMAXX

AUGUST 7, 2024

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. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. What Are Classification Rules?

Workers Compensation 102

Workers Compensation Compensation Workers Comp Premium 102

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

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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.

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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.

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Workers Comp Workers Compensation Compensation Claim 40

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.

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Workers Comp Workers Compensation Workers Compensation Insurance Compensation 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.

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Workers Comp Workers Compensation Workers Compensation Insurance Compensation 52

LexisNexis

NOVEMBER 8, 2024

Pending legislation introduced in June 2024, SB 1299 which would create a rebuttable presumption of compensability for farm worker heat related injury if an employer is found to be out of compliance with CAL/OSHA heat prevention. As of July 2024, the bill had passed the Assembly Insurance Committee.

Workers Compensation 40

Workers Compensation Compensation Injury Claim 40

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. All state laws vary.

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Workers Comp Risk Workers Compensation Premium 66