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The Grand Bargain: How Workers’ Comp Became a Win-Win for Employers and Employees

AMAXX

The workers compensation system may feel like a complex web of insurance premiums, claims adjusters, and legal disputesbut at its core, its rooted in one simple idea: a compromise. Small companies especially found themselves at risk of being put out of operation entirely after just one major injury claim.

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Workers’ Comp Premiums Fall 3% in 2024; Combined Ratio Holds at 86: NCCI

Insurance Journal

By Andrea Wells Workerscompensation remained a healthy and profitable line in 2024, but claims severity grew with an increase of 6% for medical claim severity and 6% for indemnity claim severity. That’s according to the National Council on Compensation

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Long COVID Claims Still Impact California’s Workers Comp System, Report Shows

Insurance Journal

The impact and surge of long-term COVID on the California workerscompensation system since 2020 has been prevalent, including long-term impacts on disability and long-term patterns of medical cost and treatment on long COVID claims. That’s from a report by …

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Part 2: Workers’ Comp Independent Premium Audits Explained

AMAXX

In this three-part series, we are examining nine elements of independent premium audits to help you better understand and control your workerscompensation premiums. ” Stay tuned to complete your understanding and gain further control over your workerscompensation premiums.

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Reforming Your Workers’ Comp Program: Avoiding Common Pitfalls and Taking Action

AMAXX

Revamping a workers compensation (WC) program can transform how companies manage costs and care for injured employees. Below, we explore common errors and provide actionable steps to begin reforming a workerscomp program. Legacy claims that linger unresolved. What is the status of open or legacy claims?

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Claim Frequency in California Workers’ Comp Higher in L.A. Area, Study Shows

Insurance Journal

Claim frequency in California workerscompensation remains significantly higher in the Los Angeles Basin than in the northern part of the state, a new study shows. The WorkersCompensation Insurance Rating Bureau of California released its WCIRB Geo Study 2024, …

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The Case for Injury Duration Guidelines in Modern Workers’ Comp Programs

AMAXX

In the complex world of workerscompensation, achieving optimal outcomes for injured workers requires a blend of precision, consistency, and empathy. By setting clear expectations, these guidelines help manage claims efficiently, promote recovery, and ensure equitable treatment for injured workers.