November 13, 2017

New Leaders Speak Post!

Today’s issue of WorkCompRecap features the continuation of our “Leaders Speak” series with another installment from Dax Craig, Co-founder and CEO of Valen Analytics. Read Dax’s new article at WorkCompWire…[Continue Reading]

CompLinks: 11/14/17

CompLinks are a daily set of pertinent links that we believe will be of interest to our readers. Kids’ Chance Awareness Week: Help Identify Kids in Need Outlook on Outcomes In pursuit of fairness – #FraudWeek 2017 Ohio BWC Blog 7 Habits of a Highly Effective Workers’ Comp Program ReduceYourWorkersComp Editor’s Note: These links lead to outside news… [Continue Reading]

Dax Craig: Four Aspects of the Claims Lifecycle Data Analytics Can Improve

Dax Craig

For a work comp claim, the multi-step journey from injury to payout, and even proper medical attention, varies across insurers. Yet, the process generally contains similar steps that should be optimized. On one hand, insurers must be diligent in understanding the nature of each claim, including variables such as subrogation potential and length of time an employee…[Continue Reading]

FL OIR Approves 9.5% Decrease in Workers’ Comp Insurance Rates

Tallahassee, FL – Florida Insurance Commissioner David Altmaier recently issued a Final Order​ granting approval to the National Council on Compensation Insurance (NCCI) for a statewide overall rate level decrease of 9.5% and premium level decrease of 9.8%. This applies to both new and renewal workers’ compensation insurance policies effective in Florida as of January 1, 2018. “I am pleased that today’s approval of NCCI’s rate filing will translate into a decrease in workers’ compensation rates…[Continue Reading]

Technology Insurance Company Selected as New Workers’ Comp Servicing Carrier in South Dakota

Pierre, SD – The South Dakota Division of Insurance has selected Technology Insurance Company as the workers’ compensation assigned risk plan carrier effective Jan. 1, 2018. It will service the plan for five years. A competitive bidding process was conducted to select the servicing carrier using the services of the National Council on Compensation Insurance (NCCI). NCCI’s web-based system distributes the Requests for Proposal (RFP) and receives bid responses to the RFP…[Continue Reading]

Three at TX Clinic Indicted for Healthcare Fraud After Falsely Billing OWCP

Houston, TX – Two Houston clinic owners are expected in federal court following the return of a 27-count indictment alleging a conspiracy to commit wire fraud, kickbacks and money laundering, announced Acting U.S. Attorney Abe Martinez along with Special Agent in Charge Scott Pierce of the U.S. Postal Service (USPS) Office of Inspector General (OIG) – Contract Fraud Investigations Division and Special Agent in Charge Steven Grell of the U.S. Department of Labor (DOL)-OIG. A grand jury returned the indictment…[Continue Reading]

WorkCompRecap: Tech Trends!

Key findings from the report included that tighter margins mean pricing and loss avoidance/mitigation are critical, as declining rates and increasing severity increase the need for more granular segmentation; investments in claims administration systems offered improved operational effectiveness and quality of claims service…[Continue Reading]

Novarica: Workers’ Comp Insurers Investing in Tech for Ops Efficiencies, Underwriting Insights, and Product Dev

Boston, MA – In a fragmented market with high sensitivity to state regulation, workers’ compensation insurers are looking to maximize profits through operating efficiencies, underwriting insights, and product development. Top priorities to meet current and near-future challenges include improved agent portals, core system replacement, implementation of business intelligence capabilities, and growing use of specialized components. In its latest report, Business and Technology Trends[Continue Reading]

Former Commissioner of the U.S. Bureau of Labor Statistics to Open 2018 WCRI Conference

Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently announced that Dr. Erica L. Groshen, former Commissioner of Labor Statistics and head of the U.S. Bureau of Labor Statistics, will be the opening speaker at its 34th Annual Issues & Research Conference, March 22 and 23, 2018, at the Westin Copley Place Hotel in Boston, MA. “We’re excited to have Dr. Groshen open WCRI’s annual conference―our biggest event of the year,” said John Ruser, WCRI’s president…[Continue Reading]

MEMIC Hires Tammy Bialek as Senior Production Underwriter in New York

Albany, NY – To support growth within the New York market, workers’ compensation specialist The MEMIC Group has announced the appointment of Tammy Bialek to the position of Senior Production Underwriter. Bialek has more than 25 years of underwriting experience in Central and Western New York. She has earned her Associate in Commercial Underwriting (AU) and Accredited Advisor in Insurance (AAI) designations. Prior to MEMIC, she worked for The Hartford in New York. “I am honored to represent…[Continue Reading]

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