Cambridge, MA – Medical payments per workers’ compensation claim with more than seven days of lost time were fairly stable in North Carolina from 2014 to 2019, with the average payment lower than the median of 18 states studied, according to a recent study by the Workers Compensation Research Institute (WCRI). From 2014 to 2019,… [Read more]
Association, Rating & Research News
AM Best Revises Issuer Credit Rating Outlook to Positive for ICW Group and Subsidiaries
Oldwick, NJ -(BusinessWire)- AM Best has revised the outlook to positive from stable for the Long-Term Issuer Credit Ratings (Long-Term ICR) and affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term ICRs of “a” (Excellent) of Insurance Company of the West (headquartered in San Diego, CA) and its pooled subsidiaries, collectively referred… [Read more]
WCRI: Medical Payments per Workers’ Comp Claim in WI Among Highest
Cambridge, MA – Medical payments per claim with more than seven days of lost time in Wisconsin were among the highest of 18 states studied and changed little from 2014 to 2019, according a recent study by the Workers Compensation Research Institute (WCRI). “Higher-than-typical prices paid for professional (nonhospital) services were the main driver of… [Read more]
Healthesystems Launches 4th Annual Workers’ Comp Industry Insights Survey
Tampa, FL – Healthesystems’ 2021-22 Annual Workers’ Comp Industry Insights Survey is available for responses online. The survey seeks to understand the priorities and challenges that workers’ compensation professionals across the industry are focused on going into 2022. After nearly two years of disruption catalyzed by the pandemic, this year’s survey is focused on the… [Read more]
AM Best Assigns Preliminary Credit Assessment to Omaha National Insurance Company
Oldwick, NJ -(BusinessWire)- AM Best has assigned a Preliminary Credit Assessment (PCA) to Omaha National Insurance Company (ONIC) (Omaha, NE) with a Financial Strength Assessment of A- pca (Excellent) and a Long-Term Issuer Credit Assessment of “a-” pca (Excellent). The outlook assigned to these PCAs is stable. The PCAs reflect ONIC’s balance sheet strength, which… [Read more]
One Call: Lean Methodology Can Accelerate Patient Recovery by Spotlighting Inefficiencies
Jacksonville, FL – A new study found that Lean is a suitable methodology to accelerate patient recovery by reducing the time between on-the-job accidents and the beginning of physical therapy treatment. The study identified ways to address inefficiencies in the workers’ compensation system and concluded that eliminating pre-authorization for physical therapy and the additional lead… [Read more]
WCRI Webinar: Topical Analgesics and Gabapentinoids for Work-Related Injuries
Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently announced a new 45-minute webinar on Thursday, November 18, 2021 at 2 p.m. ET to discuss its latest research on the growing use of gabapentinoids and topical analgesics to treat workers with injuries. “These studies can help state officials and other system stakeholders understand how… [Read more]
CWCI: CA WC Hospital Stays Decline as COVID Affects Quantity & Types of Admissions
Oakland, CA – The latest update to California Workers’ Compensation Institute (CWCI) research on California workers’ compensation inpatient hospital stays shows the number of injured worker hospitalizations fell 17.2 percent in 2020, the first year of the COVID-19 pandemic, bringing the total decline since 2010 to 47.2 percent. Using hospital discharge data compiled by the… [Read more]
RIMS Reaffirms Support for Newly Introduced Pandemic Risk Insurance Act of 2021
New York, NY – RIMS recently announced its continued support for Congresswoman Carolyn Maloney’s (D-NY) Pandemic Risk Insurance Act of 2021 bill that was introduced earlier this week. The proposed legislation would create a Federal program that provides a system of shared public and private compensation for business interruption losses resulting from future pandemics or public… [Read more]
NCCI Releases Q3 2021 Quarterly Economics Briefing
Boca Raton, FL – NCCI recently released its Quarterly Economics Briefing report for the third quarter of 2021, noting that the late summer surge of the Delta variant of COVID-19 dented, but did not derail, US economic recovery in the third quarter. September’s national employment gap of –3.2%, representing the shortfall of actual employment to… [Read more]