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. Payroll Information A critical step in any premium audit is the review of an employer’s payroll.

Workers Comp

AMAXX

JULY 1, 2025

If there’s one universal truth in workers’ compensation, it’s this: The best claim is the one that never happens. Here’s how to move from simply collecting injury data to using it to prevent future claims. Reduce Costs Fewer injuries mean lower workers’ compensation premiums, fewer lost workdays, and higher productivity.

Injury

AMAXX

JULY 14, 2025

When it comes to workers’ compensation, small claims might seem harmless. After all, fewer claims mean fewer red flags on your insurance history—right? Especially in ERA states , choosing not to report those small claims could end up costing far more in the long run. So, a $10,000 medical-only claim? Not always.

Claim

AMAXX

JULY 17, 2025

When it comes to workers’ compensation costs, many employers focus on claims management, safety programs, and return-to-work initiatives. means fewer-than-expected claims and lower premiums. indicates higher-than-expected losses and higher premiums. They Influence Your Premium Basis. What Is the Experience Mod?

Workers Comp

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?

Workers Compensation

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

Solstice Insurance Broker

JANUARY 23, 2025

Brokers should advocate for clients year-round, assisting with claims and policy updates. Break down the plans into digestible pieces: explain premiums, deductibles, and out-of-pocket costs in relatable terms. This means assisting with any claims issues and answering coverage questions. Be their advocate throughout the year.

Out-Of-Pocket

AMAXX

JULY 15, 2025

Understanding the real impact of frequency versus severity on your experience modification factor (mod) is crucial if you want to keep your insurance premiums under control. Click Link to Access Free PDF Download “How to Calculate Your Minimum Experience Mod, Controllable Premium & the Revenue Impact” A mod of 1.00

Workers Comp

Insurance Journal

APRIL 27, 2025

A late amendment to a phosphate mine bill has set off alarm bells among some in the Florida insurance industry, with concerns that it could cut out the heart of 2022 and 2023 legislative changes that disincentivized excessive claims litigation.

Insurance Industry

Triple-I: Workers Compensation

FEBRUARY 14, 2025

Combined ratio the most common measure of insurer underwriting profitability is calculated by dividing the sum of claim-related losses and expenses by premium. Net combined ratio and net written premium growth rates for Workers Comp are analyzed, forecasted, and reported in Triple-I quarterly members-only webinars.

Workers Comp

TGS

APRIL 23, 2025

TGS Insurance Blog Roof claims have become a significant concern for homeowners and insurers alike, with costs escalating dramatically in recent years. Shortened Roof Lifespans: In hail-prone states, the average roof lifespan is just 15 years, increasing the frequency of claims. According to Verisk’s “U.S.

Claim

Protect Commercial Insurance

APRIL 11, 2025

Awareness in this area can prevent nasty surprises when you attempt to make a claim: – Flood Damage : Often requires separate coverage or endorsements, especially in flood-prone areas. Non-compliance can sometimes void insurance claims. – Claim Process : Investigate how insurers handle claims.

Commercial Property

Triple-I: Homeowners Insurance

FEBRUARY 13, 2025

Insurance affordability in Georgia is dwindling as claim frequency and insurer costs soar, according to the latest issue brief from Insurance Information Institute (Triple-I), Trends and Insights: Georgia Insurance Affordability. Injury claim severity in the state is slightly higher than in the rest of the country.

Commercial General Liability

R&R Insurance

FEBRUARY 20, 2025

Workers compensation rates are state mandated in Wisconsin, meaning all insurance carriers must use the same rates resulting in premiums from one carrier to another are basically the same. While at first glance, this appears a boon to the bottom line for Wisconsin contractors as work comp premium makes up the lions share of insurance costs.

Workers Compensation

AMAXX

JUNE 17, 2025

When it comes to managing workers’ compensation claims, many employers focus on lagging indicators—things like claim count, indemnity costs, and days lost. And more importantly, it predicts future claims costs, experience modification factors (mods), and employee outcomes better than almost any other metric.

Workers Comp

Protect Commercial Insurance

JUNE 6, 2025

Factors Influencing Premiums Understanding what affects your insurance premiums can help you make informed decisions. Several factors contribute to the cost of your commercial property insurance premiums: – Location of the Business : A business located in an area prone to crime or natural disasters may face higher premiums.

Commercial Property

Triple-I: Homeowners Insurance

JUNE 11, 2025

With homeowners insurance expenditures growing much faster than incomes over the past two decades, American households now dedicate an increasing share of their income to insurance premiums. Supply-chain disruptions have inflated material prices and extended project timelines, directly impacting claim settlements.

Insurance

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

Distinguished

MARCH 20, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Broker

AMAXX

MAY 19, 2025

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.

Workers Comp

Triple-I: Workers Compensation

MAY 20, 2025

Key Findings Premium: Workers compensation net written premium decreased by 3.2 Claim Trends: Lost-time claim frequency declined by 5 points in 2024, which is a faster pace than the long-term average of -3.6 Both medical and indemnity claim severity increased by 6 points in 2024. points in 2024.

Workers Comp

TGS

JULY 25, 2025

TGS Insurance » Blog When it comes to insurance claims or selling a car, home, or other big-ticket item, you’ve probably heard terms like actual cash value , replacement value , and market value tossed around like confetti. By the end, you’ll be ready to tackle insurance claims or sales with confidence. What Is Actual Cash Value (ACV)?

Out-Of-Pocket

AMAXX

MAY 27, 2025

If you’re serious about lowering premiums, reducing claim durations, and improving outcomes for injured workers, start by identifying and correcting these ten common pitfalls. Employers must take ownership of claims management, set expectations, and actively coordinate their team.

Workers Comp

Distinguished

MARCH 6, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. Insurers view these violations as signs of deferred maintenance and increased risk.

Building

Distinguished

MARCH 20, 2025

And with rising property values, more frequent catastrophic weather events, and emerging risks like habitability claims, its never been more critical to help your clients navigate their insurance options. What Kinds of Claims Get Made in Apartment Buildings As a team, weve seen all kinds of claims related to apartment buildings.

Building

Distinguished

MAY 6, 2025

The cost of inland marine insurance varies based on several key factors: Type and value of property: Higher-value or specialized equipment typically results in higher premiums. Loss history and risk management: Prior claims and safety measures influence pricing. How are claims handled? Do you handle billing?

Inland Marine Insurance

Mark Jackson Insurance Agency

JUNE 16, 2025

Choosing the Wrong Deductible It’s tempting to choose a higher deductible to lower your premium, but that can backfire in the event of a claim. For example, professional services, cyber threats, and employee-related claims may require separate coverage. Conduct regular reviews to update building, contents, and inventory limits.

Commercial Insurance

TGS

FEBRUARY 28, 2025

This is where a loss history report comes inits like a propertys report card for past insurance claims. A loss history report provides a record of insurance claims filed on a property, typically over the past five to seven years. This report includes: Claim Details Dates of past claims, type of loss (e.g.,

Claim

American Agents Alliance

APRIL 3, 2025

This drives up the cost to repair, impacting claims costs. Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums. Here are some ways agents can help: Educate policyholders about costs and rising premiums. Education is often the first step.

Agents

Distinguished

MAY 19, 2025

From kitchen fires and equipment breakdowns to liability claims and utility outages, restaurants operate in an environment where a single incident can lead to costly interruptions or legal exposure. Distinguished offers competitive pricing with low minimum premiums and flexible quoting.

Policy

Simply Insurance

JUNE 28, 2025

For example, if you have a $250,000 limit on your policy, that means the insurer will only pay out up to $250,000 in the event of a covered claim. If you have a $1,000 deductible, you will need to pay the first $1,000 of any covered claim yourself. The first step is to contact your insurance company and start the claims process.

Home Insurance

Tosten Marketing

FEBRUARY 27, 2025

However, if poor maintenance caused the roof’s condition, your insurer might deny the claim. Data from Chubb shows that the average loss from a commercial water damage claim reached approximately $89,000 in 2019. If rain enters through a roof damaged by wind or hail, the resulting water damage typically falls under the policy.

Commercial Property

Property Insurance Centre

FEBRUARY 24, 2025

How a Liability Claim Can Ruin Your Business And How to Protect Yourself No matter how well you run your business, a single liability claim can have devastating consequences. The Financial Toll of a Liability Claim A lawsuit can lead to crippling legal expenses, compensation payouts, and increased insurance premiums.

Liability

Simply Insurance

JUNE 30, 2025

Learn about the key factors that influence premiums and claims in this comprehensive guide. Discover the essentials of aviation insurance, including how it operates, the types of coverage available, and why it's crucial for aircraft owners and operators.

Premium

Neilson Marketing Services

JANUARY 30, 2025

Showcase client-centric service: If you provide 24/7 claims support or personalized policy reviews, make it known. They can include buttons to book a call, forms to request more information, and interactive tools like premium calculators to encourage engagement.

Insurance Agency

Specialty Insurance

JULY 22, 2025

This dual role creates inherent conflicts of interest and heightened exposure to claims, making comprehensive Errors & Omissions insurance both more difficult to obtain and more essential than ever.

Damage

Cowbell

APRIL 16, 2025

Cowbell MDR SOC-as-a-Service actively works to reduce your risk and mitigate incidents before they cause damageoften lowering your insurance exposure and premium over time. A policy can help with incident-related costs, but it wont stop attackers from penetrating your environment. ROI Analysis: The Cost-Effective Path to Cyber Resilience 1.

Cyber