December 18, 2017

John Degnan Named AIA President and CEO

Washington, DC – The American Insurance Association (AIA) issued the following statement announcing the selection of John Degnan as the association’s new president and CEO. Following AIA’s board of directors meeting on November 8, 2017, Degnan will assume his new role. Degnan, a former New Jersey Attorney General and vice chairman and chief operating officer of The Chubb Corporation, most recently served as the chairman of the Port Authority of New York and New Jersey. “John Degnan…[Continue Reading]

CWCI: Despite Risks, Most WCMSA Plans Include Funds For Long-Term Opioid Use

Oakland, CA – Nearly 70% of federally mandated and approved Medicare settlements for injured workers require funding for decades of opioid use, often at dangerously high levels and in conjunction with other high-risk drugs. Such a requirement exceeds federal and state clinical guidelines and places patients at high levels of risk. Workers’ Compensation Medicare Set-Aside (WCMSA) plans are required to set up reserves to cover Medicare beneficiaries’ future medical care for injured workers who are or will…[Continue Reading]

WCRI: IN Sees First Decline in a Decade in Medical Payments per Workers’ Comp Claim

Cambridge, MA – Medical payments per workers’ compensation claim in Indiana decreased from 2014 to 2015 for the first time in more than a decade, according to a new study by the Workers Compensation Research Institute (WCRI). The study, CompScope™ Medical Benchmarks for Indiana, 18th Edition, examined medical payments per claim, prices, and utilization, comparing Indiana with 17 other states. “This study provides a look at how medical payments per claim in the Indiana workers’ compensation…[Continue Reading]

WCRI Announces Webinar on Latest Fee Schedules and Medical Price Research

Cambridge, MA – The various design choices of fee schedule regulations and their webinar impact on variation in medical payments across state workers’ compensation systems will be discussed during an hour-long webinar by the Workers Compensation Research Institute (WCRI) on Thursday, Nov. 2, 2017, at 12 noon ET (11 a.m. CT, 10 a.m. MT, and 9 a.m. PT). “Those who attend this webinar will learn the key decisions states have to think about in designing and updating a fee schedule…[Continue Reading]

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 WCIRB Releases 2017 Geo Study Report

akland, CA – The WCIRB has released the 2017 WCIRB Geo Study. This study uses data from diverse datasets to highlight regional differences in California workers’ compensation claim characteristics. The Study, which controls for regional differences in wages and industrial mix, includes eleven maps illustrating regional differences. Key findings of the Study include: After controlling for differences in wages and industrial mix, indemnity claim frequency is highest in the Los Angeles Long Beach region…[Continue Reading]

New NCCI Research: How Is Medical Inflation Measured? And Why Should I Care?

Boca Raton, FL – It should come as no surprise that medical costs and wage levels are two of the key components behind workers compensation. Increasing medical prices, also known as medical inflation, can have a significant effect on rates/premiums, profits, and benefit levels. In its latest technical paper, “Medical Price Index for Workers Compensation,” NCCI explores the differences between commonly used Medical Price Index (MPI) alternatives, and encourage the industry to consider…[Continue Reading]

PCI Elects New Officers to Board of Governors

Chicago, IL – The Property Casualty Insurers Association of America (PCI) recently elected new officers to its Board of Governors during the association’s annual meeting. Kurt Bock, CEO, COUNTRY Financial was elected as PCI’s chair; Pete McPartland, chairman of the board, president and CEO, Sentry Insurance was elected first vice chair; and Jim Brannen, CEO, FBL Financial Group was elected second vice chair. “We are thrilled that Kurt will be taking the wheel of PCI…[Continue Reading]

NCCI Releases Q3 2017 Quarterly Economics Briefing

Boca Raton, FL – NCCI recently announced the release of the Q3 2017 edition of its Quarterly Economics Briefing, which examines the current state of the economy and implications for workers compensation insurance. Key takeaways from this edition include: 2017 and 2018 employment growth is expected to be lower than in recent years, low unemployment has not translated into faster wage growth, interest rates have increased this year and are expected to rise more in 2018…[Continue Reading]

WCRI Video: A Discussion Worth Watching

Boca Raton, FL – WCRI recent announced that as it puts together the agenda for next year’s WCRI Annual Issues & Research Conference (March 22 and 23, 2018, in Boston, MA), it would share an example of a session from its last annual conference. The session was on the current state of the workers’ compensation system or “Grand Bargain,” specifically whether it is working or needs revisiting and what the future holds for the 100-year-old system. The panel was moderated by WCRI’s President…[Continue Reading]

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