Cambridge, MA – the Workers Compensation Research Institute (WCRI) released three new state reports that compare outcomes of injured workers in Minnesota, Pennsylvania, and Tennessee with outcomes in 12 other states. The outcomes examined include recovery of physical health and functioning, return to work, earnings recovery, access to medical care, and satisfaction with medical care.… [Read more]
Association, Rating & Research News
A.M. Best Upgrades Issuer Credit Rating of Texas Mutual Insurance Company
Oldwick, NJ -(BusinessWire)- A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent) of Texas Mutual Insurance Company (Texas Mutual) (Austin, TX). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook for the… [Read more]
WCRI Webinar Highlights Shift in Where Injured Workers Receive Medical Care
Cambridge, MA – In the last decade or so, many medical services for injured workers have shifted from hospitals to nonhospital providers, including ambulatory surgery centers (ASCs). These changes are an important factor underlying the trends in medical payments per claim. Dr. Rebecca Yang and Ms. Evelina Radeva of the Workers Compensation Research Institute (WCRI)… [Read more]
Safety National Receives Standard & Poor’s Rating Upgrade to A+
St. Louis, MO – Standard & Poor’s (S&P) Global Ratings increased the financial strength rating of the Delphi companies, including Safety National Casualty Corporation, to A+ with a positive outlook. According to S&P Global Ratings, the upgrade reflects a change in their assessment of Delphi’s group status to core from highly strategically important, reflecting their… [Read more]
WCRI: Workers’ Comp Medical Costs per Claim Lowest in Massachusetts in 18 State Study
Cambridge, MA – Medical payments per workers’ compensation claim with more than seven days of lost time in Massachusetts were the lowest of 18 states studied. This reflects both lower prices paid and utilization of services based on 2014 to 2016 claims evaluated as of 2017, according to a recent study by the Workers Compensation… [Read more]
NCCI Releases Countrywide Court Case Update
Boca Raton, FL – NCCI recently announced the release of its latest Court Case Update, which provides a look at some of the cases and decisions monitored by NCCI’s Legal Division that may impact and shape the future of workers compensation across the states. This edition provides updated information on cases previously introduced, and presents… [Read more]
WCRI: Payments for Surgeries in ASCs Lower Than in Hospital Outpatient Departments, with Few Exceptions
Cambridge, MA – The payments for similar knee and shoulder surgeries performed in ambulatory surgery centers (ASCs) were lower compared with hospital outpatient departments in many study states, with few exceptions, according to a new FlashReport from the Workers Compensation Research Institute (WCRI). “Some studies indicate that ASCs provide care that is less expensive than… [Read more]
CA WCIRB Releases Report on Q2 2018 Insurer Experience
Oakland, CA – The WCIRB recently completed its report on statewide workers’ compensation insurer loss and premium experience through June 30, 2018. The major findings of the report include: California written premium for the first six months of 2018 is $9.1 billion, which is consistent with the written premium reported for the same period in… [Read more]
BLS Releases 2017 Employer-Reported Workplace Injuries and Illnesses Report
Washington, DC – The U.S. Bureau of Labor Statistics recently reported that there were approximately 2.8 million nonfatal workplace injuries and illnesses reported by private industry employers in 2017, which occurred at a rate of 2.8 cases per 100 full-time equivalent (FTE) workers. Private industry employers reported nearly 45,800 fewer nonfatal injury and illness cases… [Read more]
CA WCIRB Releases Aggregate Medical Payment Trends Update
Oakland, CA – The WCIRB has released the California Workers’ Compensation Aggregate Medical Payment Trends report comparing medical payment information from 2015 to 2017. The WCIRB analysis is based on medical payment data representing 92% of the California workers’ compensation insurance market. Among the key findings of the report: There were sharp declines in the… [Read more]