April 24, 2017

WCRI Study Examines Costs & Impact of Reforms in 18 State Workers’ Comp Systems

WCRI

Cambridge, MA – The claim costs and other metrics of 18 state workers’ compensation systems are analyzed in depth in a new series of studies, CompScope™ Benchmarks, 17th Edition, released by the Workers Compensation Research Institute (WCRI). “The research can help policymakers and other stakeholders identify current cost drivers…[Continue Reading]

NCCI Releases March 2017 Quarterly Economics Briefing

NCCI Holdings, Inc.

Boca Raton, FL – In its latest Quarterly Economics Briefing newsletter, NCCI examines the current state of the economy and the implications for workers compensation insurance. This edition also focuses on manufacturing. The report includes a survey of state manufacturing presence and also discusses how the rise of automation…[Continue Reading]

A.M. Best Affirms Credit Ratings of Subsidiaries of Old Republic International Co

AM Best

Oldwick, NJ -(BusinessWire)- A.M. Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of Old Republic Insurance Company (Greensburg, PA) and Old Republic Lloyds of Texas (Dallas, TX) (collectively referred to as Old Republic Insurance Companies [ORINSCO])…[Continue Reading]

CA WCIRB Releases Report on Year-End 2016 Insurer Experience

CA WCIRB

Oakland, CA – The WCIRB has completed its report on statewide workers’ compensation insurer loss and premium experience through December 31, 2016. The major findings of the report include: California written premium for 2016 is approximately $18.1 billion, which is 3% above the written premium reported for 2015. The projected…[Continue Reading]

CWCI Completes Regional Score Card Series With Analysis of Sierras

California Workers Compensation Institute (CWCI)

Oakland, CA – The California Workers’ Compensation Institute (CWCI) has released a new California Workers’ Comp Regional Score Card that examines the claims experience of workers living in the Sierras and compares it to the experience of injured workers from the rest of the state. The Sierra Score Card is the last installment of…[Continue Reading]

IAIABC Releases Key Actions Report & Video from National Conversations on WC

IAIABC

Middleton, WI – Over the last two years, many different groups have put workers’ compensation under a microscope, concerned that the industry is too focused on expense reduction at the cost of injured worker outcomes. In response, the IAIABC held three “National Conversations on the Future of Workers’ Compensation” in 2016, the results of which are…[Continue Reading]

Express Scripts Report: Workers’ Comp Drug Spending Decreased 7.6% in 2016

Express Scripts

St. Louis, MO – Express Scripts (NASDAQ: ESRX) lowered prescription drug spending for workers’ compensation payers by 7.6 percent in 2016, according to the 11th edition of its Workers’ Compensation Drug Trend Report. “In a year when many payers wrestled with drug price increases that dominated the news, Express Scripts…[Continue Reading]

A.M. Best Reaffirms Financial Strength Rating for Chesapeake Employers

Chesapeake Employers Insurance Company

Towson, MD – A.M. Best Co. has reaffirmed a financial strength rating of A- (Excellent) and an issuer credit rating of “a-” for Chesapeake Employers’ Insurance Company as of March 29, 2017. The outlook assigned by A.M. Best to both ratings is stable. Tom Phelan, President and CEO of Chesapeake Employers Insurance, says: “The company’s…[Continue Reading]

ReedGroup Research Points to Over $6B in Avoidable Medical Costs

Reed Group

Westminster, CO – During a recent presentation at the Integrated Benefits Institute Annual Forum in San Francisco ReedGroup unveiled research findings from a 10-month study revealing that companies can save approximately $6 billion a year in “avoidable medical costs” associated with disability claims among the 55 million U.S. workers with…[Continue Reading]

WC Benchmarking Study White Paper: Overcoming Psychosocial Roadblocks

Rising Medical Solutions

Chicago, IL – Claims leaders rank psychosocial issues as the number one barrier to successful claim outcomes, according to Rising Medical Solutions’ 2016 Workers’ Compensation Benchmarking Study survey. A new white paper, co-authored by study program director Rachel Fikes and industry journalist Peter Rousmaniere, shows how…[Continue Reading]

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