Oakland, CA – California’s State Average Weekly Wage (SAWW) rose just under 3 percent to $1,242.78 in the year ending March 31, 2018, which the California Division of Workers’ Compensation (DWC) reports will boost temporary total disability (TTD) and permanent total disability (PTD) rates for 2019 work injury claims and other California workers’ comp benefits… [Read more]
Association, Rating & Research News
AIA/PCI Release Statement on Merger Negotiations
Washington, DC – Anthony J. Kuczinski, President and Chief Executive Officer of Munich Reinsurance America and Chair of the Board of Directors of the American Insurance Association (AIA) and Kurt F. Bock, Chief Executive Officer of COUNTRY Financial and Chair of the Board of Directors of the Property Casualty Insurers Association of America (PCI) recently… [Read more]
CWCI: CA Workers’ Comp IMR Volume & Outcomes Held Steady In Q1 2018
Oakland, CA – Data on California workers’ compensation independent medical review (IMR) decisions issued in the first quarter of this year shows that the medical dispute resolution process established as part of the 2012 workers’ comp reforms continues to produce consistent outcomes, with little change in the number of IMR determination letters and decisions; the percentage of modified or denied treatment requests that are upheld; the types of treatment requests reviewed; and the small number of…[Continue Reading]
WCRI Releases 10th Edition of Free Medical Price Index for Workers’ Comp
Cambridge, MA – As policymakers and system stakeholders in many states debate rising medical costs, the Workers Compensation Research Institute (WCRI) released a new study today that helps monitor changes in prices paid for medical professional services as well as the impact of fee schedule and network changes on price trends. The study, WCRI Medical Price Index for Workers’ Compensation, 10th Edition (MPI-WC), compares medical prices paid in 35 states and tracks price changes in most states over…[Continue Reading]
Mitchell Releases Second Quarter 2018 Industry Trends Report
San Diego, CA – Mitchell recently released its Industry Trends Report (ITR) for the second quarter of 2018. The report includes a deep dive into how data analytics are now embedded into most levels of insurance organizations, presenting both challenges and opportunities. It also includes an exploration of how utilization review and precertification can help reduce unnecessary medical expenses—while also providing strong medical options for recovery. As technology becomes more deeply integrated into…[Continue Reading]
WCRI Webinar: Impact of Opioid Prescriptions on Duration of Temporary Disability
Cambridge, MA – The Workers Compensation Research Institute’s (WCRI) Dr. Bogdan Savych will host a half-hour webinar on Thursday, June 21, 2018, at 1pm ET (12pm CT, 11am MT, and 10am PT) to discuss the findings from a recently published WCRI study The Impact of Opioid Prescriptions on Duration of Temporary Disability. The webinar will address the following questions: Do opioid prescriptions increase duration of temporary disability benefits? Do longer-term opioid prescriptions increase…[Continue Reading]
TDI Workers’ Comp Research & Evaluation Group Releases Report on Multiple Injuries & Claims
Austin, TX – The Texas Department of Insurance’s Workers’ Compensation Research and Evaluation Group (REG) recently released a new report that sought to investigate how common multiple injury claims are in the Texas workers’ compensation system, to estimate reinjury rates by demographic and injury characteristics, and to examine risk factors of multiple injury by comparing injured employees of single injury with those of multiple injuries. Key findings from the report included that about 40 percent of new…[Continue Reading]
WCRI: Average Total Cost per WC Claim Changed Little in Indiana Since 2013 Reform Took Effect
Cambridge, MA – The average total cost per workers’ compensation claim in Indiana was stable in the years since the state enacted workers’ compensation system reforms, according to a recent Workers Compensation Research Institute (WCRI) study. The study, CompScope™ Benchmarks for Indiana, 18th Edition, provides a look at changes in the Indiana workers’ compensation system following the enactment in 2013 of House Enrolled Act (HEA) 1320. The legislation included the implementation…[Continue Reading]
Valen Analytics Releases Third Annual ROI Study
Denver, CO – Valen Analytics®, an Insurity company, recently announced the results of the company’s third annual ROI study, which highlights the evolution of data-driven insurers and their ability to consistently outperform the market. From 2012-2017, Valen customers collectively saw loss ratio improvement of 3-9 points better than the industry average, while achieving 53% direct written premium growth, compared to 18% growth for the market. Results were calculated from 20 workers’ compensation…[Continue Reading]
WCRI Study: IL Total Cost per Workers’ Comp Claim Grew 1-3% Annually in Recent Years
Cambridge, MA – The average total cost per workers’ compensation claim in Illinois grew annually anywhere from 1 to 3 percent since 2012, according to a recent study by the Workers Compensation Research Institute (WCRI). “Due to small to moderate changes in medical payments per claim, indemnity benefits per claim, and benefit delivery expenses per claim, the average total cost per workers’ compensation claim in Illinois grew annually about 1 to 3 percent after 2012,” said Ramona Tanabe…[Continue Reading]