Boca Raton, FL – Every year, NCCI analyzes the overall adequacy of loss plus loss adjustment expense (LAE) reserves held by private carriers in the workers compensation (WC) insurance industry.1,2 The results reflect a comparison of projected ultimate loss ratios from NCCI’s analysis (NCCI selections) with those reported by carriers.3,4 NCCI’s loss reserve analysis helps… [Read more]
Association, Rating & Research News
CA DWC Posts Ethics Advisory Committee Annual Report for 2020
San Francisco, CA – The Division of Workers’ Compensation (DWC) recently posted the 2020 Ethics Advisory Committee’s annual report on its website. The Workers’ Compensation Ethics Advisory Committee is a state committee independent from DWC that is charged with reviewing and monitoring complaints of misconduct filed against workers’ compensation administrative law judges. The Ethics Advisory… [Read more]
CWCI Finds IMR Volume Continued Decline Through First Half of 2021
Oakland, CA – The number of independent medical reviews (IMRs) used to resolve California workers’ comp medical disputes hit a record low in the first half of 2021 as statewide unemployment remained stubbornly high, non-COVID job injury claims stayed below pre-pandemic levels, millions of Californians continued to work from home, and efforts to reduce prescription… [Read more]
IAIABC Announces 107th Convention Going Virtual
Middleton, WI – The IAIABC recently announced that due to the continually changing COVID-19 landscape its Board of Directors has made the decision to make its 107th Convention, October 26-28, 2021, a completely virtual event. The Board of Directors deliberated extensively, carefully considering both the risks and value of bringing the IAIABC community together in-person.… [Read more]
CompPharma Survey: Workers’ Comp Pharmacy Costs Continued Decline During COVID-19
Maggie Valley, NC – Workers’ compensation pharmacy costs continued to decline during COVID-19, driven by a steady reduction in opioid use, according to CompPharma’s 17th Annual Survey of Prescription Drug Management in Workers’ Compensation. “Despite reports of increased opioid use among workers’ comp patients during the COVID year, survey respondents saw opioid spend drop to… [Read more]
RIMS Announces Full-Vaccination Requirement at All Society Events
New York, NY – RIMS has implemented new guidelines that will require anyone who wishes to attend a RIMS in-person event to show that they are fully-vaccinated for COVID-19. The requirement is effective immediately for all events managed by RIMS staff, including the upcoming RIMS Enterprise Risk Management Conference and its Annual Conference & Exhibition… [Read more]
CA WCIRB Releases 2021 Edition of Interactive Industry Stats Report
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its Interactive Industry Stats – 2021 Edition report that provides premium, exposure and loss information based on unit statistical report data submitted to the WCIRB for policy years 2003 to 2018. In addition to policy year information, some loss information by accident… [Read more]
New NCCI Study Compares Utilization of Physician Services in Workers Comp and Group Health
Boca Raton, FL – NCCI recently released a new Insights research brief that taps into data from employer-sponsored group health (GH) programs as a source of information that might be critical to maintaining a viable workers’ compensation benefit delivery system. Employing several advances in methodology and data analysis, the paper continues and extends a series… [Read more]
The Conference Board Survey: As Workplaces Reopen, 42% of Workers Fear Getting COVID
New York, NY – As the Delta variant continues to proliferate, 42 percent of workers are worried about returning to the workplace for fear of contracting COVID-19. This marks a substantial jump from June 2021 when only 24 percent had that concern. “With headlines about the rise of the Delta variant, breakthrough cases among the… [Read more]
HEMIC Rated A (Excellent) with Stable Outlook by AM Best
Honolulu, HI – AM Best recently affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) for Hawai`i Employers’ Mutual Insurance Company, Inc. (HEMIC). The outlook of the Credit Ratings (ratings) is stable. The largest provider of workers’ compensation insurance in Hawai`i has maintained an A rating from… [Read more]