Triple-I: Workers Compensation

MAY 20, 2025

William Nibbelin, Senior Research Actuary, Triple-I Economic uncertainty, industry-specific trends, and evolving risks were the focus of the NCCI Annual Insights Symposium (AIS) 2025 a key event for the workers compensation industry. Key Findings Premium: Workers compensation net written premium decreased by 3.2

Workers Comp

AMAXX

JULY 15, 2025

When it comes to workers’ compensation costs, few topics spark more debate—and confusion—than the question: Which is worse for my experience mod: many small injuries or one big one? Your experience mod is essentially your company’s credit score for workers’ comp. signals worse-than-average performance and higher premiums.

Workers Comp

R&R Insurance

FEBRUARY 20, 2025

On October 1, 2024 Wisconsin continued its trend entering a ninth consecutive year of reduced workers compensation insurance rates. 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.

Workers Compensation

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. Injuries occur, costs mount, and safety meetings become reactive discussions about what went wrong rather than proactive strategies to keep workers safe. Yet for many employers, the reality is different.

Injury

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. He is co-author of the #1 selling comprehensive training guide Your Ultimate Guide to Mastering Workers Comp Costs: Reduce Costs 20% to 50%.

Workers Comp

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.

Workers Comp

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. When workers return quickly—even in modified roles—they stay connected to their routine, avoid psychosocial complications like depression, and recover faster.

Workers Comp

AMAXX

JULY 14, 2025

When it comes to workers’ compensation, small claims might seem harmless. This discount exists to remove the fear that reporting small claims automatically increases your mod and your premiums. Many employers fear reporting will lead to higher premiums. At first glance, it feels like a smart move. Not always.

Claim

AMAXX

MARCH 4, 2025

By shifting your perspective from compliance-as-burden to compliance-as-advantage, you can leverage OSHA requirements to create a safer, more productive workplace, reduce workers compensation costs , and enhance your company’s reputation. Heres how: 1. OSHA Compliance as a Cost-Saving Strategy Workplace injuries are expensive.

Workers Comp

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

AMAXX

MAY 27, 2025

Workers compensation is often misunderstood as a fixed cost of doing businesssomething employers have to accept, manage passively, and simply write checks for. In reality, workers comp costs are one of the most controllable expenses in your organization. But that mindset couldnt be further from the truth.

Workers Comp

Triple-I: Homeowners Insurance

MAY 15, 2025

This advancement was largely attributable to robust net written premium (NWP) expansion, with growth rates of 14.4 Even though rising costs may lead to additional premium increases, these will likely be insufficient to offset slowing consumer spending and corporate investment. Personal auto insurers reported a 2024 NCR of 95.3,

Workers Compensation

AMAXX

JULY 30, 2025

How the Cost Adds Up When an employee stays out of work after an injury, you’re not just paying their workers’ compensation indemnity benefits. He is co-author of the #1 selling comprehensive training guide “Your Ultimate Guide to Mastering Workers’ Comp Costs: Reduce Costs 20% to 50%.”

Workers Comp

Neilson Marketing Services

JULY 1, 2025

The Revenue Illusion: Why Premium Volume ≠ Revenue Another major misstep? Mistaking premium volume for revenue. Retail agencies don’t earn the full premium — they earn commissions, typically: ~12.5%

Building

Zywave

MAY 15, 2025

Ernst & Young predicts embedded insurance transactions could account for 30% of the total by 2028, while Deloitte recently cited expectations for embedded gross written premiums to reach $700 billion globally by 2030. Nor is it appropriate for lines with significant regulatory oversight, such as workers compensation.

Broker

AMAXX

MAY 21, 2025

Ask the average employee who pays for workers compensation, and you might hear answers like the insurance company, the government, or even nobodyits just a benefit. In reality, the employer foots the bill for every dollar spent in the workers compensation system. Conversely, a clean record earns lower premiums.

Workers Comp

Word & Brown

APRIL 1, 2025

Individual Health Insurance Tax Deductibility If you offer individual health insurance to your clients, they may be able to include their health insurance premiums in their medical expense calculation on their taxes. Plus, your clients can save on Federal Insurance Contribution Act (FICA) taxes and Workers Compensation.

Deductible

AMAXX

JUNE 16, 2025

When an employee is injured on the job, a timely and thoughtful return-to-work (RTW) program can be the difference between a minor detour and a long, costly journey through the workers’ compensation system. A high mod increases your insurance premiums. Collaborative programs protect your mod by accelerating return to work.

Workers Comp

AMAXX

JULY 10, 2025

You’re facing lost time, medical costs, and skyrocketing workers’ compensation expenses. Michael Stack, CEO of Amaxx LLC, is an expert in workers’ compensation cost containment systems and provides education, training, and consulting to help employers reduce their workers’ compensation costs by 20% to 50%.

Injury

AMAXX

MARCH 11, 2025

Effectively managing workers compensation requires careful oversight and proactive measures to identify and prevent fraudulent or exaggerated claims. Large claims can have significant long-term impacts on premiums, experience modification factors, and overall workers’ compensation costs.

Workers Comp

Property Insurance Centre

FEBRUARY 24, 2025

The Financial Toll of a Liability Claim A lawsuit can lead to crippling legal expenses, compensation payouts, and increased insurance premiums. Real-World Example: A small construction company faced a 500,000 lawsuit after a worker suffered a fall due to alleged safety violations.

Liability

Triple-I: Workers Compensation

JUNE 25, 2025

P/C replacement costs will likely rise throughout the industry, leading to higher claim payouts and, consequently, premium rates. Earlier this month, for instance, the administration doubled its new steel and aluminum tariff to 50 percent – including on Canada, the largest steel supplier to the United States.

Policy

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.

Workers Comp

Insurance Journal

OCTOBER 31, 2024

New York employers will pay 22% less in the annual assessment to run the state’s workers’ compensation system in 2025. The rate assessed on standard premiums will be 7.1% beginning January 1, 2025, down from 9.2% The Hochul …

Workers Compensation

Insurance Journal

OCTOBER 8, 2024

California workers’ compensation 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 Workers’ Compensation Insurance Rating …

Premium

Insurance Journal

SEPTEMBER 9, 2024

A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workers’ compensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …

Workers Comp

Insurance Journal

JULY 1, 2025

Total losses and expenses in California’s workers’ compensation system incurred in 2024 were $16.7 billion, or 108% percent of earned premium, a report out today shows. The Workers’ Compensation Insurance Rating Bureau of California released the 2024 California Workers’ Compensation …

Premium

Insurance Journal

JULY 31, 2024

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its …

Premium

AMAXX

AUGUST 7, 2024

When it comes to managing workers’ compensation, understanding classification rules is fundamental. 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. This can free up resources for other areas of your business.

Workers Compensation

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.

Workers Compensation

Insurance Journal

FEBRUARY 24, 2025

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workers’ compensation premiums each year, according to a new report from a state task force. Maryland’s Joint …

Premium

AMAXX

JANUARY 13, 2025

Navigating workers’ compensation 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 workers’ compensation system. Their expertise enhances the efficiency and accuracy of the claims process.

Workers Compensation

AMAXX

JANUARY 14, 2025

Workers’ compensation programs are a cornerstone of workplace safety and risk management. Exclusivity: Protection Against Lawsuits One of the most significant benefits of workers compensation for employers is the exclusive remedy provision.

Workers Compensation

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.

Workers Comp

Insurance Journal

JULY 12, 2024

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …

Workers Comp

Insurance Journal

JANUARY 1, 2025

State Compensation Insurance Fund in California announced that it will declare a $149 million dividend to qualifying policyholders with policies that took effect between Jan. This dividend equals roughly 15% of the estimated annual premium …

Policy

Insurance Journal

SEPTEMBER 12, 2024

Oregon employers will pay on average less for workers’ compensation coverage in 2025. The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium rate. Employers …

Premium