Environment Changing. Insureds Will Face Challenges on Workers’ Compensation...
Highlights The average cost of an indemnity claim in 2011 was $66,922, a 43 percent increase from 2005 (the prominent year of workers’ compensation reform)* After a decade of decreasing indemnity claim...
View ArticleBig Changes for California’s Workers’ Compensation: Initial Analysis of...
Senate Bill 863 was passed by the California Legislature on August 31, 2012 and signed into law by Governor Jerry Brown shortly thereafter. The bill has been touted as a compromise between employers...
View ArticleU.S. P&C First Half Results: Modest Rate Increases, Capacity Near Record Levels
Rates in the U.S. property and casualty market continued to show modest increases in the second quarter in most lines of coverage, but the large amount of capacity in the market is helping to keep...
View ArticleCost Pressures Rising for Workers Compensation Insurance Buyers
Risk managers and other executives are seeing rising pressures on the cost of their workers’ compensation insurance programs. Recently, my colleague Eric Silverstein talked with AM Best about what is...
View ArticleProperty & Casualty Rates Kept in Check; No Profound Impact from Sandy
The results of the first nine months for the U.S. property and casualty market were recently released indicating a U.S. property and casualty market with near-record capacity, a large drop in CAT...
View ArticleSequestration: Additional Impact to Government Contractors
The looming specter of sequestration has U.S. Federal Government Contractors scrambling to warn employees of impending furloughs and layoffs, reforecasting revenue projections against any one of a...
View ArticleThe Oklahoma Option
Legislation Would Allow Employers to Opt Out of Workers’ Compensation For decades, the option for employers to opt out of Texas workers’ compensation has been of considerable influence in businesses...
View ArticleLockton Market Insight: Rate Increases Moderate; Workers’ Compensation...
Despite large losses from Superstorm Sandy and a challenged investment environment, U.S. Property and Casualty carrier profitability improved in 2012. The improvement came as a result of rate increases...
View ArticleA Safety Tsunami: The Baby Boomer Effect on Worker’s Compensation
It is no secret that our baby boomer generation now makes up a large portion of our workforce, and that the older a person becomes, the more medical problems develop. So why does it appear that these...
View ArticlePredicting Adverse Risk Behaviors
Integrity tests, a subcategory of personality-based tests, assess job applicants for honesty and conscientiousness. They look at only negative character and resulting behaviors to identify applicants...
View ArticleLockton Market Update – P&C Insurer Profitability Rebounds Q1 2013
The US property and casualty insurance industry experienced a sharp uptick in profitability for the first quarter of 2013. With the release of these numbers, Lockton experts weigh in on current...
View ArticleIs Your Safety Program Discriminitory?
Counter False Claims and Unsafe Behaviors Through Your Risk Management Program Reducing injuries and creating a safe work environment is critical to lowering costs and increasing productivity. More...
View ArticleWellness Programs: The Positive Impact on Workers’ Compensation
While the benefits of a robust corporate wellness initiative are well-known to human resources departments, risk management is starting to sit up and take notice as evidence mounts that those wellness...
View ArticleObesity Leads to Increased Workers’ Comp Claims
A recent article on BeneftisPro.com discusses the findings reported in Lockton’s white paper Wellness Programs: The Positive Impact on Workers’ Compensation. BenefitsPro highlights the central theme of...
View ArticleTop Ten Common Barriers to Workers’ Comp Managed Care
Managed care needs to drive your workers’ compensation program. If managed care is not your philosophy, then odds are your claims cost containment approach is costly and out of date. During the past...
View ArticleLien Activation Fees and Workers’ Comp Claims for California Employers
California workers’ compensation claims face a backlog caused by medical liens creating delays in closing files and additional costs to employers to either defend or settle the liens. California...
View ArticleStrategies to Minimize DBA Insurance Cost: Waivers for Contractors
When reviewing your DBA coverage needs, there are a number of DBA cost-reduction strategies to consider. In this article we look at one of a number of ways to save: the applicability of Waivers of DBA...
View ArticleNonsubscription in Texas: A True Alternative to Workers’ Compensation
Texas is a state that allows an option to not purchase workers’ compensation coverage, regardless of the number of employees, company size, or type of business. Workers’ compensation is still...
View ArticleHow Analogies and Storytelling Enable Risk Managers and the C-Suite to Speak...
It’s no secret the C-Suite and Risk Management professionals can struggle to communicate. I was recently fortunate enough to moderate a panel on this topic at this year’s Annual Workers’ Compensation...
View ArticleP&C Market Update: How TRIPRA Nonrenewal Affects Insurance Programs & Why...
The non-renewal of the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) has far-reaching implications, as the federal backstop will be unavailable to traditional insurers as well as to...
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