December 17, 2017

New NCCI Report Examines Historic 2015 Decline in Workers’ Comp Medical Severity Costs

Boca Raton, FL – Medical costs are currently about 60% of all workers compensation benefit costs in the United States. Medical costs in the system had a watershed year in 2015. For the first time in more than 20 years, the average severity of medical claims for employees who were out of work due to injury or illness declined, after years of steady increases in severity. To examine the factors driving this decline, NCCI released a research brief, “Investigating the Drivers of the 2015 Workers…[Continue Reading]

CA Workers’ Comp Insurers Advised to Reduce Rates to Reflect Decreasing Costs

Sacramento, CA – Insurance Commissioner Dave Jones adopted and issued a revised advisory pure premium rate, lowering the benchmark to $1.94 per $100 of payroll for workers’ compensation insurance, effective January 1, 2018. This is 17.1 percent less than the average pure premium rate of $2.34 California insurers filed as of July 1, 2017. Commissioner Jones’ decision results in an advisory pure premium rate that is slightly below the $1.96 average rate recommended…[Continue Reading]

LWCC Welcomes Kappie Mumphrey as Chief Information Officer

Baton Rouge, LA – LWCC recently announced the hiring of Kappie Mumphrey as its Chief Information Officer (CIO). Mumphrey is an IT leader with over 25 years’ experience in management, including having served as CIO for the LSU AgCenter. She has been instrumental in developing and implementing IT strategies and governance processes in several different industries, and has significant experience managing large-scale, enterprise-wide application implementation projects, many of…[Continue Reading]

OK AG Hunter Writes Letter to Feds Requesting Opioid Industry be Treated as Criminal Enterprise

Oklahoma City, OK – Attorney General Mike Hunter today sent a letter to U.S. Attorney General Jeff Sessions requesting the federal government pursue opioid manufacturers, wholesalers and distributors under the Racketeer Influenced and Corrupt Organizations Act (RICO). The letter comes one day after Attorney General Sessions was in Oklahoma to discuss criminal justice issues across the United States. Attorney General Hunter said the letter’s intent is to open communication…[Continue Reading]

WorkCompRecap: Another Acquisition!

Today’s issue of WorkCompRecap features some more major M&A news with the announcement that The Hartford has reached an agreement to acquire Aetna’s US group life and disability business for cash consideration of $1.45 billion. The Hartford noted that the acquisition creates an accretive opportunity for it to become…[Continue Reading]

CompLinks: 10/26/17

CompLinks are a daily set of pertinent links that we believe will be of interest to our readers. Two big transactions; implications for work comp part 1 Managed Care Matters Financing Work Comp Regulation FL Workers’ Comp Adjudication Where to Start For Best In Class Workers’ Comp Claims Management ReduceYourWorkersComp Editor’s Note: These links lead to outside news… [Continue Reading]

The Hartford Signs Agreement to Acquire Aetna’s U.S. Group Life and Disability Business

Hartford, CT – The Hartford has entered into a definitive agreement to acquire Aetna’s U.S. group life and disability business for cash consideration of $1.45 billion. This acquisition deepens and enhances The Hartford’s Group Benefits distribution capabilities and accelerates the company’s technology strategy. Aetna has several options for use of the proceeds of the transaction, including but not limited to internal investments to enhance the company’s customer experience, share repurchases and repayment…[Continue Reading]

WorkCompCentral Announces Comp Laude® People’s Choice Awards Contestants

Camarillo, CA – The sixth annual Comp Laude® Awards & Gala celebrates the positive contributions of those in the workers’ compensation industry. The event is designed to inspire others to collaborate and help improve outcomes for injured workers. The event is Oct. 30 – Nov. 1 at its new venue in San Diego, CA at the Manchester Grand Hyatt hotel. An engaging session sponsored by Gallagher Bassett, the Comp Laude® People’s Choice Awards pursues founder of WorkCompCentral David DePaolo’s…[Continue Reading]

Louis Keyes Joins York as Chief Sales Officer

Parsippany, NJ – York Risk Services Group (York) recently announced that Louis E. (Lou) Keyes has joined the company as Executive Vice President and Chief Sales Officer. Mr. Keyes will direct the sales and account management teams for all of York’s diversified insurance solutions. “York offers a comprehensive array of insurance solutions. As our clients’ risk management needs become more complex, we want to provide the insight, expertise and services that help them understand and effectively…[Continue Reading]

New TDI-DWC Prosecution Unit Gets Indictments for Health Care Fraud

Austin, TX – A Travis County grand jury has indicted EME International, Inc. and three individuals on charges of engaging in organized criminal activity for overbilling for exams of injured employees. The indictment alleges fraud of between $20,000 and $100,000. The Texas Department of Insurance, Division of Workers’ Compensation’s (DWC) new prosecution unit obtained the indictments. The DWC prosecution unit is embedded in the Travis County District Attorney’s Office and was created…[Continue Reading]

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