Oakland, CA – The WCIRB recently released its 2018 State of the California Workers’ Compensation Insurance System Report, which highlights the cost of California workers’ compensation insurance based on premiums paid by insured employers, illustrates how premium dollars are distributed among various system components, details key cost drivers in the system and provides a summary… [Read more]
Association, Rating & Research News
NCCI Releases Q2 2018 Quarterly Economics Briefing
Boca Raton, FL – NCCI recently announced the release of the Q2 2018 edition of its Quarterly Economics Briefing, which examines the current state of the economy and implications for workers compensation insurance, and is separated into two sections: “Review of Current Conditions”, and “Drilling Down” Review of Current Conditions Key takeaways include: Employment growth… [Read more]
CompPharma Survey Finds Workers’ Comp Drug Spend has Decreased by Over $1 Billion in Past Eight Years
Maggie Valley, NC – CompPharma recently released its 15th Annual Survey of Prescription Drug Management in Workers’ Compensation, which found that pharmacy costs in workers’ compensation have decreased by $1.1 billion during the past eight years. “Pharmacy is no longer fastest-growing segment of work comp medical expenses,” said Joe Paduda, president of CompPharma, LLC. “Work… [Read more]
A.M. Best Downgrades Credit Ratings of AmTrust and Most Subsidiaries, Assigns Stable Outlook
Oldwick, NJ -(BusinessWire)- A.M. Best has removed from under review with negative implications and downgraded the Financial Strength Rating to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a-” from “a” for the members of the AmTrust Group (AmTrust). In addition, A.M. Best has removed from under review with… [Read more]
NCCI Releases Insights Report on Post-Traumatic Stress Disorder in Workers’ Compensation
Boca Raton, FL – NCCI recently released a new Insights report on Post-traumatic stress disorder (PTSD) injuries in workers compensation. Post-traumatic stress disorder (PTSD) injuries in workers compensation (WC) have recently attracted the attention of legislators and other system stakeholders. With more focus on compensating those who suffer from PTSD due to a work-related event,… [Read more]
WCRI: Average Total Cost per Workers’ Comp Claim in Tennessee Lower Compared with Other Study States
Cambridge, MA – The average total cost per workers’ compensation claim in Tennessee decreased 6 percent in 2015, reflecting in part the impact of reforms enacted in 2013, according to a recent Workers Compensation Research Institute (WCRI) study. “Most of the 6 percent decrease in the average total cost per workers’ compensation claim in Tennessee… [Read more]
Cake, Pinnacol’s Offering for Small Businesses Spotlighted in New Research
Denver, CO – Pinnacol Assurance recentlky announced that a new case study by Forrester Research explores how Colorado workers’ compensation leader Pinnacol beat expectations by creating a new digital platform to offer coverage to small businesses in only nine months, three months before its projected launch. The study notes that Cake, winner of the 2018… [Read more]
WCRI Study Compares Hospital Outpatient Payments Across 35 States
Cambridge, MA – Hospital outpatient payments were higher and growing faster in states with percent-of-charge-based fee regulations or no fee schedules, finds a study from the Workers Compensation Research Institute (WCRI). The study is an annual series comparing hospital payments for a group of common outpatient surgeries in workers’ compensation across 35 states from 2005… [Read more]
CA WCIRB Releases Report on Losses and Expenses for Calendar Year 2017
Oakland, CA – The WCIRB has released its report on workers’ compensation losses and expenses for 2017. The report is prepared annually pursuant to Section 11759.1 of the California Insurance Code. Key findings in the report include: Medical losses paid in 2017 were $4.7 billion, or 56% of total loss payments. Of these payments, $1.3… [Read more]
Coventry Releases Part 2 of 2017 First Script Drug Trends Report Series
Downers Grove, IL – Coventry recently announced the release of the second part of its 2017 Drug Trends Series, which is based on all calendar year transactions billed through its PBM Program, First Script, as well as transactions from medical bill review to reflect the total pharmacy experience for their client base. With this report… [Read more]