I wanted to do a post on all the things work-related I’m thankful for – but there aren’t enough pixels to include them all. So, here are the top few. Most of the people in the work comp industry are committed to doing the right thing. Whether it’s getting injured workers the best care possible...
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Cavalcade of Risk #221: Birds of a Feather
As Congress meets in its “lame duck” session, we’re delighted to host Cavalcade of Risk #221, bringing you a flock of posts from around the insurance and risk-related blogosphere. In our opener, Rubber, Road and Lyft: Insurance Crisis? Hank Stern of InsureBlog takes another look at the important topic of ride-sharing. Now that Lyft’s had...
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Joe Paduda: Monday catch-up
Here’s what happened last week. First, the election. A thorough butt-kicking to be sure. Now, we will see if the two very distinct wings of the Republican party can work together. With almost all of the moderate Dems losing their elections, projected majority leader McConnell will have to figure out how to keep his fractious caucus together while...
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Report: Drones Potential Game-Changer for Insurers
Despite regulatory challenges, privacy concerns and a lack of capabilities that could stall their widespread use, drones could have a significant impact on the property/casualty industry. A recent report from IT firm Cognizant suggests that commercial and personal lines insurers that cover property risks are likely to be early adopters of drone technology. Hat tip to...
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Different Types of Adjusters And Why They Are Needed
Many workers compensation carriers have several teams of adjusters. These usually consist of medical only adjusters, lost time adjusters, and so on. From time to time I see a high exposure claim team, where if a reserve is over a certain point it gets transferred to a team and they take it from there. Some...
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Oregon to See Comp Costs Fall for Second-Straight Year
Good news has come for employers in the state of Oregon. Oregon workers compensation costs will decrease an average 5.3 percent in 2015, the Department of Consumer and Business Services (DCBS) announced. The department approved the average decrease in “pure premium,” which is the portion of the premium employers pay insurers to cover anticipated claims...
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Asbestos pokes its long nose out from under the workers comp tent
Judgments in two recent court cases held that long-tail asbestos claims are not subject to the comp bar. A very good friend who spends most of his time dealing with asbestos claims for a very large carrier shared this with me in a recent email. Here’s how he put it: If this contagion were to...
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Joe Paduda’s Friday Catch-up on Workers Comp
Lots happening in the workers’ comp world these days – here’s what caught my attention this week. WCRI released its CompScope report, which is actually 15 separate reports covering 16 states. I’ll be reviewing it in detail next week; for those who can’t wait you can find the summary of the news on Illinois here. WCRI...
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Five Ways Employers Can Reduce Work Comp Legal Costs
Workers’ comp legal defense expenses are increasing at an alarming rate. For instance, California Workers Compensation – Aon Advisory Bulletin from a study by WCIRB of California, said allocated costs (mostly attorney payments) increased 7.3% in 2013.” Overzealous defense counsel and untrained (or spineless) adjusters can prolong litigation, increase costs and wreak havoc on the...
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Friday catch-up
Here’s a quick tour of what else happened this week… First, let’s just relax about Ebola. Yes, a physician in NYC – who treated patients in Africa – has come down with the disease. Yes, he traveled on the subway and went bowling before he was diagnosed. No, this doesn’t mean there’s a nascent epidemic,...
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