December 15, 2017

Valen Analytics Points to Growing Insurance Industry Divide with Release of 2018 Outlook Report

Denver, CO – Valen Analytics®, an Insurity company, recently published its 2018 Outlook Report, which chronicles the deepening divide between insurance companies adopting incremental technological advances and those that believe it’s time to disrupt the insurance ecosystem. In the fifth iteration of the annual report, the company predicts how the growing split between insurers will impact the industry, as carriers of all sizes embrace technology, albeit with very different roadmaps…[Continue Reading]

UT DOL Occupational Safety and Health Division Releases 2016 Workplace Injury and Illness Statistics

Salt Lake City, UT – The Utah Labor Commission’s Division of Occupational Safety and Health, in conjunction with the U.S. Department of Labor’s Bureau of Labor Statistics, has released 2016 nonfatal occupational injury and illness data for the state of Utah. The information was obtained through the annual Survey of Occupational Injuries and Illnesses. There was a significant decrease in the overall combined incidence rate in the public and private sectors in Utah from 3.5 injuries and illnesses per 100 full-time…[Continue Reading]

NAIC Elects 2018 Officers

Honolulu, HI – Members of the National Association of Insurance Commissioners (NAIC) recently elected the following officers for 2018 during its Fall 2017 National Meeting: President: Tennessee Insurance Commissioner Julie Mix McPeak. McPeak was appointed by Gov. Bill Haslam to lead the Tennessee Department of Commerce and Insurance on Jan. 12, 2011. President-Elect: Maine Insurance Superintendent Eric A. Cioppa. Cioppa was confirmed as as superintendent of the Maine…[Continue Reading]

A.M. Best Revises Issuer Credit Rating Outlook to Positive for Texas Mutual Insurance Company

Oldwick, NJ -(BusinessWire)- A.M. Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICR of “a” of Texas Mutual Insurance Company (Texas Mutual). The outlook of the FSR remains stable. The ratings reflect Texas Mutual’s balance sheet strength, which A.M. Best categorizes as strongest, as well as its strong operating performance, limited business profile and appropriate enterprise risk management…[Continue Reading]

2017 Workers’ Comp Benchmarking Study Releases Three-Year Industry Report Card for Claims Best Practices

Chicago, IL – Now in its fifth year, the 2017 Workers’ Compensation Benchmarking Study reprises its 2014 survey questions to measure industrywide advancement in claims management these past three years. The study also continues its potent method of validating how and what higher performers are doing differently than lower performing peers to reveal a more robust profile of the successful claims organization. Findings from the just published 2017 study reflect the responses of 572 claims leaders…[Continue Reading]

CWCI: CA DIR Announces 2018 Workers’ Comp User Funding Assessment Rates

Oakland, CA – The California Department of Industrial Relations (DIR) has issued the 2018 assessments that workers’ compensation insurers are required to collect from policyholders to cover the budget of the state Division of Workers’ Compensation (DWC) and five related programs set up by state lawmakers. Insurers should apply the following rates against their policyholders’ estimated annual assessable premium for policies incepting January 1, 2018 through December 31, 2018…[Continue Reading]

WCRI: WI Medical Payments per Claim Higher Than Typical; Growth Slowing, but Still Faster Than Most Study States

Cambridge, MA – A new study by the Workers Compensation Research Institute (WCRI) found that Wisconsin’s medical payments per workers’ compensation claim were higher than typical for 2015 injuries evaluated as of March 2016. While growth in Wisconsin’s workers’ compensation medical payments per claim slowed in the past several years, medical payments were still increasing at a faster rate than other states that WCRI studied. The study, CompScope™ Medical Benchmarks[Continue Reading]

WY State Occupational Epidemiologist Releases Annual Report on Workplace Fatalities

Cheyenne, WY – The Wyoming Department of Workforce Services (DWS) recently released an updated Work-Related Fatal Injuries report. The report, which provides analysis over years 2012-2016 and is the second multi-year report, reveals a complete view of recent fatality patterns in the state by industry and cause. Wyoming continues to have one of the highest occupational fatality rates in the country. In 2016, the State Occupational Epidemiologist identified 27 workplace fatalities…[Continue Reading]

New WCRI Study Examines Delaware Fee Schedule Changes

Cambridge, MA – A new report from the Workers Compensation Research Institute (WCRI), Evaluation of the 2015, 2016, and 2017 Fee Schedule Changes in Delaware, provides policymakers and other stakeholders with the ability to examine all three rounds of the Delaware fee schedule changes enacted in House Bill (HB) 373. “In many states, policymakers and other stakeholders are looking to fee schedules to help control the growth of medical care costs in their workers’ compensation systems…[Continue Reading]

WCRI Study: FL Medical Payments per Workers’ Comp Claim Stabilized After Years of Moderate Growth

Cambridge, MA – Medical payments per workers’ compensation claim in Florida remained stable in 2015 following moderate growth from 2010 through 2014, according to a recent study by the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for Florida, 18th Edition, examined medical payments, prices, and utilization in Florida and compared them with 17 other states over a period from 2010 through 2015. “Florida implemented several…[Continue Reading]

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