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Mistake: Accepting Every Workers’ Compensation Claim

AMAXX

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.

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Falling Work Comp Rates: The Good, the Bad, and the Ugly

R&R Insurance

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.

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Why Reporting Small Claims Pays Off in ERA States

AMAXX

When it comes to workers’ compensation, small claims might seem harmless. Many employers wonder: “Why report a $1,000 medical bill to the insurance carrier if we can just pay it ourselves and keep our experience mod low?” After all, fewer claims mean fewer red flags on your insurance history—right? Not always.

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The Hidden Cost of Bad P&C Insurance Data — And Why You Can’t Build a Reliable Dataset In-House

Neilson Marketing Services

property and casualty (P&C) insurance ecosystem: Over 714,000 professionals are employed in the P&C industry. Approximately 2,500 insurance carriers employ an additional 519,000 professionals. The Revenue Illusion: Why Premium Volume ≠ Revenue Another major misstep? Mistaking premium volume for revenue.

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Understanding the Key Parties in Workers’ Compensation

AMAXX

Insurance Company: The Risk Bearer Often referred to as the underwriter, insurer, or carrier, the insurance company provides the workerscompensation policy and assumes the employers risk. Click Link to Access Free PDF Download “Step-By-Step Process To Master Workers Comp In 90 Days” 3.

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Collateral Agreement Didn’t Mention Tort Claims, Cutting SUNZ Out of BP Funds

Insurance Journal

If insurance carriers want to have dibs on a company’s assets as premium security or collateral, they had better specify that those assets include potential tort-claim settlements, a federal appeals court said Wednesday. In a case that involved a Florida …

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Increase Your Commissions by Selling Disability Insurance

Word & Brown

Policies with shorter maximum benefit periods typically have lower premiums. State STD vs. Voluntary The California State Disability Insurance (SDI) program provides short-term and Paid Family Leave (PFL) to eligible workers when off work due to a non-work-related illness or injury, pregnancy, or childbirth.