September 20, 2017

New Leaders Speak Post!

Today’s issue of WorkCompRecap features the continuation of our “Leaders Speak” series with the second installment from Archie Anderson, President of Options and Choices, Inc. (OCI) You can read Archie’s new article at WorkCompWire by clicking here. If you missed Archie’s first post, “The Problem with Absence”, you can read it by clicking here. Many… [Continue Reading]

Archie Anderson: Is the Insurance Sector Ready for Big Data?

Archie Anderson President, OCI

By: Archie Anderson, President, Options & Choices, Inc. (OCI) We are beginning to hear more about “big data” and opportunities on the horizon with the use of big data. The possibilities make me wonder if the insurance sector – healthcare, property/casualty and other forms of benefits – are ready for the potential economic and competitive… [Continue Reading]

Eastern Insurance Holdings, Inc. Announces Affirmation of A (Excellent) A.M. Best Financial Strength Rating for Eastern Alliance Insurance Group

Eastern Insurance Holdings, Inc.

LANCASTER, Pa. – Eastern Insurance Holdings, Inc. (“EIHI”) (NASDAQ: EIHI) today announced that A.M. Best Company has affirmed its A (Excellent) financial strength rating and stable outlook for subsidiary Eastern Alliance Insurance Group (“EAIG”), a domestic casualty insurance group specializing in workers’ compensation. “A.M. Best’s affirmation of the A (Excellent) rating is indicative of our… [Continue Reading]

AMERISAFE CEO Allen Bradley Named E&Y Entrepreneur Of The Year Gulf Coast Finalist

Amerisafe Workers Compensation Insurance News

DERIDDER, La. /PRNewswire/ — AMERISAFE, Inc. today announced that Chairman and Chief Executive Officer Allen Bradley is an Ernst & Young Entrepreneur Of The Year® 2011 Gulf Coast Area Award finalist. According to Ernst & Young LLP, the awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance… [Continue Reading]

Formularied!

Today’s edition of WorkCompRecap features the Ohio Bureau of Workers’ Compensation’s announcement of their creation of their first ever formulary of medications approved for the treatment of injured workers. The outpatient formulary was established to improve the efficiency and effectiveness of treatment, limit the inappropriate use of medications and lower BWC’s prescription costs. BWC spends… [Continue Reading]

Ohio Bureau of Workers’ Compensation Establishes First Outpatient Prescription Drug Formulary

Ohio BWC

COLUMBUS – The Ohio Bureau of Workers’ Compensation (BWC) Board of Directors has approved BWC’s first ever formulary of medications approved for the treatment of injured workers. The outpatient formulary was established to improve the efficiency and effectiveness of treatment, limit the inappropriate use of medications and lower BWC’s prescription costs. “Formularies are an industry… [Continue Reading]

NY Insurance Department to Hold Hearing on Proposed Workers’ Compensation Loss Cost Increase

New York State Seal

The New York State Insurance Department will hold a public hearing on Thursday, June 23, 2011 to consider the application of the New York Compensation Insurance Rating Board (NYCIRB) for a workers’ compensation loss cost increase of 10.4 percent. The approved loss cost is used by workers’ compensation insurance companies in setting rates. The hearing… [Continue Reading]

Questionable Claims!

Today’s issue of WorkCompRecap features The National Insurance Crime Bureau (NICB)’s release of its first quarter 2011 questionable claims (QC) referral reason analysis. The report covers six categories of referred claims and their reasons, Workers’ Compensation included. Questionable claims are those claims that NICB member insurance companies refer to NICB for closer review and investigation… [Continue Reading]

NICB Sees 23 Percent Rise in First Quarter 2011 Suspicious Claims

National Insurance Crime Bureau

DES PLAINES, Ill., /PRNewswire-USNewswire/ — The National Insurance Crime Bureau (NICB) has released its first quarter 2011 questionable claims (QC) referral reason analysis. The report covers six referral reason categories of claims: property, casualty, commercial, workers’ compensation, vehicle and miscellaneous referred during the first quarters of 2009-2011. In the first quarter of 2009, a total… [Continue Reading]

Nevada Insurance Commissioner Approves Filing, Announces Lower WC Costs for Employers

Nevada State Seal

CARSON CITY – Insurance Commissioner Brett Barratt has approved a filing for an average decrease of 3.9 percent for Nevada workers’ compensation voluntary insurance loss costs and an average decrease of 2.2 percent for workers’ compensation insurance assigned risk rates. Loss costs are the expected costs of medical and wage loss benefits including the costs… [Continue Reading]

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