NCCI data reveal need for new model for workers’ comp claims management |
For workers’ comp underwriting to work, there must be a new model for claims management – a model that fixes the fundamental flaws of the current system. In essence, this…
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Workers Compensation
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Workers’ compensation is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job.
Employers pay for this insurance, and shall not require the employee to contribute to the cost of compensation. Weekly cash benefits and medical care are paid by the employer’s insurance carrier, as directed by the Workers’ Compensation Board. The Workers’ Compensation Board is a state agency that processes the claims. If Board intervention is necessary, it will determine whether that insurer will reimburse for cash benefits and/or medical care, and the amounts payable.
South Carolina Workers’ Compensation Loss Costs Cut
South Carolina employers should see their workers’ compensation premiums go down this year since regulators have approved an average 7.4 percent decrease in the state’s loss costs. Director of Insurance…
Workers comp rates increasing less than in 2013:
Workers compensation rates are continuing to increase this year, but at a slower rate than 2013, according to an analysis released this week by Moody’s Investors Service Inc. Rate firming…
Painkiller Prescribing Varies By State, Highest in South; Florida Reverses Trend:
Health care providers in some states prescribe far more painkillers than those in other states, according to a new government report. Health care providers wrote 259 million prescriptions for opioid…
Texas-style drug formulary could help other states reduce comp costs: Study |
State workers compensation systems could benefit from following Texas and adopting a closed drug formulary, according to a benchmarking report released Wednesday by the Workers Compensation Research Institute. Cambridge, Massachusetts-based…
Firing Fear Among New Predictors of Workers’ Comp Outcomes:
Workers’ compensation researchers have identified anxiety over being fired and other new predictors of worker outcomes that they say can help public officials, payors and health care providers improve the…
U.S. property/casualty insurers reserves deteriorating: Aon Benfield |
The U.S. property/casualty insurance industrys reserve position is continuing to deteriorate, according to a study released Thursday by Aon Benfield Group Ltd. The “U.S. P&C Industry Statutory Reserve Study” is…
Data Show Rising Workers’ Comp Medical Costs in New Hampshire
In the world of workers’ compensation, the fees charged by the health care community are significantly more expensive on average in New Hampshire than in other states, according to the…