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Workers’ Comp Is a Team Sport: Understanding the Puzzle of Stakeholders

AMAXX

Workers compensation isnt a solo actits a team sport. This article breaks down the major stakeholders involved in workers comp and how collaboration across this ecosystem leads to better outcomesfor both the injured worker and the employer footing the bill. They’re also known as the insurer or underwriter.

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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. The 2020 annual change in employment measured by total non-farm payroll of -5.8

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Who Really Pays for Workers’ Comp? Debunking a Common Myth

AMAXX

In reality, the employer foots the bill for every dollar spent in the workers compensation system. Understanding who truly pays for workers comp is more than a technicalityits a mindset shift that unlocks better program management, smarter spending, and improved outcomes for injured workers. roofing vs. clerical work).

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Markets/Coverages: Descartes Expands US Parametric Flood Cover for Businesses; EverPeak Takes Workers Comp Product to 11 New States

Insurance Journal

Parametric insurance company Descartes Underwriting has a new flood insurance product it said delivers better protection for US businesses, investors, and homeowners associations. Any type of business and industry class may be covered. Limits of up to $70 million are …

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Part 3: Workers’ Comp Independent Premium Audits Explained

AMAXX

This post is one in a 3-part series: Part 1: Workers Comp Independent Premium Audits Explained Part 2: Workers Comp Independent Premium Audits Explained Part 3: Workers Comp Independent Premium Audits Explained To qualify for this treatment, construction employers must keep meticulous records specifying exact hours worked per classification code.

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Home Statistics

Simply Insurance

DBA Simply Insurance ® in Georgia) " Simply Insurance® is a licensed independent insurance broker and doesnt underwrite any insurance policy described on this website. The final insurance policy premium for any policy is determined by the underwriting insurance company following application submission and underwriting outcome.

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Frequency vs. Severity: Which Hits Your Work Comp Mod Harder?

AMAXX

Your experience mod is essentially your company’s credit score for workers’ comp. It compares your actual workers’ compensation losses to the losses expected for similar businesses in your industry. Can alarm underwriters, leading to higher premiums or non-renewal. appeared first on Amaxx Workers Comp Blog.