Important Information for California Private Self-Insureds
The Office of Self Insurance Plans has posted an information sheet about their new regulations requiring private self-insureds to file an actuarial study each year.
How Will Workers’ Compensation Reform Affect Future Claims Frequency and Costs?
On September 18, 2012 Governor Jerry Brown signed Senate Bill 863, a comprehensive workers' compensation reform package that will result in significant changes. It is estimated to increase benefits to injured workers by more than $700 million while reducing frictional costs in the system by estimates as high as $1.2 billion. Studies reflect an overall savings of $770 million in the first year and $335 million in the second year. The overall savings continue to be debated and will ultimately depend on the effectiveness of the new regulations.
Best Practices for Your Workers’ Compensation Program
As an industry-leading Third Party Administrator (TPA) recognized for our progressive approach to claims management, we are regularly asked "What can my company do to better to control our workers' compensation program?" Organizations have many areas of focus through which they can mitigate workers' compensation costs. We've compiled a top-ten list of time-tested areas of focus that have proven to generate powerful positive results. From experience, we have found that the most successful approach is the adoption of a comprehensive program management plan rather than the integration of only one or two concepts.
AthensPredict
Revolutionizing claims management with the power of predictive modeling. What if you could identify and reduce the 20% of claims that make up 80% of your overall program cost?
Minimizing the Negative Impact of Unavoidable Incidents
Employers are looking for any advantage to keep loss experience numbers down and to control medical costs. Some would argue that the best claim is a closed claim. Others would point to prevention and safety efforts and say the best claim is one that never happened. Unfortunately sometimes the best safety plans don’t prevent an incident from happening.
Is Your Adjustor Awesome… or Just OK?
In the book, "The 8 Characteristics of the Awesome Adjustor", author Carl Van defines the attributes required in a successful claims adjustor. How does your adjustor measures up?
Closing out 2011
2011 was an active year in the Risk Management arena. Some states, such as California, continue to make legislation changes that affect the way claims are handled and how employers are assessed. [...]
Workplace Culture: A Powerful Factor on Workers’ Compensation Costs
Workplace culture (the values, beliefs, attitudes and behaviors collectively shared by employees) can have a very real and powerful impact on the entire work environment. As a result, culture has [...]
Workers’ Compensation Subrogation – Bottom Line Savings or Missed Opportunities?
When a workers' compensation injury is caused by a negligent third party (other than the employer), the injured worker has the right to sue the wrongdoer for damages in civil [...]