Remove Claim Remove Workers Comp Remove Workers Compensation Insurance
article thumbnail

The Big Impact of Payroll & Class Codes on Your Experience Mod

AMAXX

When it comes to workerscompensation costs, many employers focus on claims management, safety programs, and return-to-work initiatives. These two factors can dramatically influence your experience modification factor (mod) and ultimately how much you pay for workerscomp insurance. A mod below 1.00

article thumbnail

Workers Comp Premium, Loss, Market Trends Support Its Ongoing Success

Triple-I: Workers Compensation

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. percent from 2014 to 2023.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Crash Course in Work Comp Motor Vehicle Accidents

AMAXX

As a general rule, workers compensation insurance is the primary insurance, which requires the claim team to investigate and make determinations regarding compensability and subrogation rights. This requires them to take a crash course in claims investigation literally.

article thumbnail

Insurance Considerations When Expanding Your Business to a New Location

Mark Jackson Insurance Agency

Commercial Liability Insurance to protect against claims related to third-party injuries or property damage. Workers Compensation Insurance to cover employee injuries on the job. If youre hiring new employees at your new location, ensure compliance with local workers comp laws.

article thumbnail

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 …

article thumbnail

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, …

article thumbnail

WCIRB: California Workers’ Comp Written Premium in 2023 Was up Slightly

Insurance Journal

California workerscompensation written premium in 2023 was slightly above 2022, while written premium for the first six months of 2024 is 2% lower than the first six months of 2023, a new report shows. The WorkersCompensation Insurance Rating …