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When it comes to managing workers’ compensation, understanding classification rules is fundamental. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. The higher the risk, the higher the workers compensation premium for that classification.
Frank Fasano, Director of Sales at ToughComp, a PCF business, shares insight from his years of experience working within industries that experience challenges finding affordable workers’ compensation policies.
loss cost decrease in the workers’ compensation voluntary market along with rate decreases in the assigned risk market, effective April 1, 2025. Virginia has approved a 12.0% The State Corporation Commission (SCC) approved the proposed voluntary loss costs, along with …
The number of workers’ compensation claims for student-on-school-employee assault dropped significantly during the 2023-24 school year, according to data from Gallagher Basset. This change comes after two years of increasing claims following the 2020-21 school year. Citing client numbers covering …
The West Virginia insurance commissioner’s office has adopted a new policy: It will soon begin destroying workers’ compensation claim files that are 10 years old or older. “Given increasing cybersecurity concerns and the type of information contained in the closed …
By understanding the role fear plays in workers compensation claims, employers can implement strategies to foster trust, improve outcomes, and reduce costs. The Link Between Fear and Litigation Studies have consistently identified fear as a major driver of workers compensation litigation.
Connecticut workers’ compensation insurers are recommending an overall 6.1% overall reduction in the assigned risk market for next year. reduction in loss costs in the voluntary market and a 6.2% If the recommendation is approved, it would mark the eleventh …
But when it comes to the workers compensation system, a rushed or poorly evaluated hire can be far more costly than leaving a role vacant for a few extra weeks. In fact, bad hires aren’t just a performance issuethey are a financial and legal liability , particularly in industries where physical labor increases the risk of injury.
chicken and pork plants face higher risks than other manufacturing workers for musculoskeletal disorders such as carpal tunnel syndrome, according to two studies the U.S. Workers in U.S. Department of Agriculture issued on Friday. The findings highlight health concerns for …
Thousands of Massachusetts medical professionals and other employees of troubled hospital operator Steward Health Care are at risk because Steward does not have adequate liability or workers’ compensation coverage in place to protect them after Steward’s exit from the state, …
Evidence-Based Medicine (EBM) plays a critical role in workers compensation, guiding both medical professionals and non-medical stakeholders in making informed decisions about injury treatment, recovery time, and return-to-work strategies. This ensures that EBM guidelines reflect a comprehensive, well-rounded approach to injury treatment.
Workers' compensation insurance rates vary by state due to location, industry risks, and policy coverage. The Hartford is a top choice for workers' compensation insurance due to its competitive pricing and comprehensive coverage. The national average cost is approximately $1,128 per year.
Shall we touch base about this on our regular risk management conference call? FREE DOWNLOAD: “Step-By-Step Process To Master Workers Comp In 90 Days” The post How to Tell If You Need a Nurse Case Manager for Your Workers’ Compensation Claim appeared first on Amaxx Workers Comp Blog.
When it comes to managing workers’ compensation, understanding classification rules is fundamental. Misclassification can lead to costly errors, either by overpaying premiums or by facing penalties for underreporting risk. The higher the risk, the higher the workers’ compensation premium for that classification.
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.
Four Washington roofing companies are facing $1.27 million in fines from the Washington State Department of Labor & Industries for safety violations including allowing workers on top of homes without fall protection. L&I cited and fined Allways Roofing Inc. 345,700 …
For business owners, preventing injuries is key to protecting employees, maintaining productivity, and minimizing workers compensation claims. Damaged or outdated equipment can increase the risk of accidents, so be sure to implement a maintenance schedule and replace worn-out gear regularly.
In the complex world of workers compensation, risk managers play a vital role in aligning strategic oversight with day-to-day claims operations. Far from being a behind-the-scenes figure, a successful risk manager serves as the linchpin between claims administration, adjusters, and injury management teams.
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.
In this three-part series, we are examining nine elements of independent premium audits to help you better understand and control your workers’ compensation premiums. Understanding these areas will further empower you to identify premium savings opportunities and maintain precise control over your workers’ compensation costs.
By Christopher Mahon, LexisNexis Legal Insights Contributing Author A September 2024 study from the Workers Compensation Research Institute indicates that workers represented by an attorney in workers compensation claims receive substantially more payments than workers who are not represented by an attorney. See [link].
In the complex world of workers’ compensation, setting accurate reserves is a critical task for adjusters. 5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected: 1. 5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected: 1. Is the Cost for the Claim for Life?
In the world of workers’ compensation, one of the most powerful strategies for managing costs while helping injured employees return to work is the implementation of a transitional duty (TD) program. Examples include volunteering as a reader at a nursing home or helping out at an animal shelter by engaging in light, low-risk activities.
When it comes to calculating workers’ compensation premiums, two critical factors play a significant role: the frequency and severity of claims. Frequency: The Stronger Driver of Premiums In the world of workers’ compensation, frequency refers to how often claims are filed.
Most notably, it ensures that injured employees receive timely and appropriate medical care, reducing the risk of complications. This helps in managing workers’ compensation costs more effectively, as the employer takes the lead in coordinating care and managing the return-to-work process.
By offering physical therapy as part of a rehabilitation plan, employers can speed up recovery and reduce the risk of long-term disability. This not only benefits the employee but also the employer by reducing workers’ compensation costs and minimizing downtime. What Is Occupational Therapy?
She was given a list of four medical providers but found that: Two providers did not accept workers compensation patients. One provider accepted workers compensation but was not taking new patients. Solution: Employers must routinely verify that the medical providers they recommend: Accept workers compensation cases.
In the complex world of workers’ compensation, achieving optimal outcomes for injured workers requires a blend of precision, consistency, and empathy. By aligning care with proven recovery pathways, these guidelines foster a quicker return to normal activities and reduce the risk of complications or prolonged disability.
One of the most critical aspects of managing workers’ compensation claims is ensuring that injured employees receive prompt medical treatment. Mistake #1: Delayed Care Due to Uncertainty A significant mistake in handling workers’ compensation claims is delaying medical treatment for injured employee s.
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.
When an employer receives a revised workers’ compensation premium bill, the accuracy of the bill can be uncertain and confusing. This series of articles will provide clarity on what independent premium auditors evaluate, with practical insights to help you navigate the complexities of workers’ compensation premium audits.
GC/General Contractor Workers’ Comp – High Risk Market Detail: HR and PEO Consultants offers high risk workers’ compensation programs for general contractors.
Theyre moving fast, skipping steps, and taking on avoidable risk. But what if hiring was treated like risk management? Integrity tests filter these high-risk candidates before you invest time in interviews. These are the individuals most likely to contribute to workplace friction, safety violations, or early-stage injuries.
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 points in 2024.
Brick commercial office building by Binyamin Mellish Expanding your business to a new location is an exciting step toward growth, but it also introduces new risks. Without the right coverage, unforeseen challenges—such as property damage, employee injuries, or legal issues—could put your investment at risk.
Worker’s Compensation Insurance Worker’s compensation insurance covers medical expenses and lost wages for contractors’ employees injured while working on your property. Risks of Hiring Uninsured Contractors Hiring uninsured contractors exposes you to significant risks.
There are elements in your workers compensation program that may be creating challenges without you even realizing it. Drivers of Human Behavior in Workers Compensation The science of human behavior has been studied extensively, and one of the most insightful works on the subject is Drive by Daniel Pink. Prolong their recovery.
Discover the factors that influence the cost of aviation workers compensation insurance, including coverage options, industry risks, and tips for finding the best rates for your business.
Achieving a 90% return-to-work rate within 0-4 days is the gold standard for managing workers’ compensation claims, with best-in-class organizations reaching 95%+. However, some cases present challenges that require a more strategic approach.
The California Division of Occupational Safety and Health cited Safeway $182,000 in proposed penalties for safety violations that reportedly put roughly 1,700 workers at risk of serious injuries at the company’s warehouse in Tracy, their largest facility in the nation.
When a worker is injured, their experience in the workers’ compensation system can have a profound impact on their recovery, return to work, and overall job satisfaction. Reassure Employees About Job Security Supervisors should reassure injured workers that their job is not at risk if they follow proper procedures.
Now, we address the remaining elements that auditors consider essential in ensuring you fully optimize your workers’ compensation premium calculations, highlighting scenarios that often require particular attention and strategic management.
In the realm of workers’ compensation, the role of an injury coordinator is pivotal. Based on the comprehensive guide from the Workers’ Compensation Manual, this blog will explore the responsibilities, best practices, and significance of an injury coordinator in an organization.
Hamilton, Former Assistant Secretary and Deputy Commissioner, California Workers’ Compensation Appeals Board Over the past several decades California has implemented broad legislative changes aimed at lowering the costs associated with workers’ compensation, especially medical expenditures. Mueller, K.L, Mueller, K.L,
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