Cambridge, MA – Total costs per workers’ compensation claim in Florida grew moderately since 2013, but that result masks recent changes in key cost components related to court decisions and medical fee schedule changes, according to a recent study by the Workers Compensation Research Institute (WCRI). Indemnity benefits per claim grew faster for claims with… [Read more]
Association, Rating & Research News
CA CHSWC Releases 2018 Annual Report
Oakland, CA – The Commission on Health and Safety and Workers’ Compensation (CHSWC) has released its twenty-fourth Annual Report for 2018. The 2018 Annual Report presents information about the health and safety and workers’ compensation systems in California and makes recommendations to improve their operations. The Annual Report summarizes the state of all the relevant… [Read more]
NCCI Releases Q1 2019 Quarterly Economics Briefing
Boca Raton, FL – NCCI recently announced the release of the Q1 2019 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: Private sector… [Read more]
AM Best Revises Outlooks to Positive for Chesapeake Employers’ Insurance Company
Oldwick, NJ -(BusinessWire)- AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Chesapeake Employers’ Insurance Company (Chesapeake) (Towson, MD). The Credit Ratings (ratings) reflect Chesapeake’s balance sheet strength, which AM Best categorizes as strongest, as well… [Read more]
CA WCIRB Releases Study on Early Indicators of High-Risk Opioid Use
Oakland, CA – Since 2012, the use of opioids has significantly and continuously declined in the California workers’ compensation system. The downward trend of opioid prescriptions may be leading to a shift in the patterns of medical treatments for California’s injured workers as well as more utilization of alternative measures. The Workers’ Compensation Insurance Rating… [Read more]
New WCRI Studies Examine Claim Costs and Trends in 18 State Workers’ Comp Systems
Cambridge, MA – Costs per claim and other metrics of 18 state workers’ compensation systems are analyzed in depth in a series of studies, CompScope™ Benchmarks, 19th Edition, released by the Workers Compensation Research Institute (WCRI). “The CompScope™ studies can help policymakers and other stakeholders identify current cost drivers and emerging trends in a wide… [Read more]
CWCI Report Takes an Updated Look at CA Workers’ Comp Medical Dispute Resolution
Oakland, CA – A new California Workers’ Compensation Institute (CWCI) study on the Independent Medical Review (IMR) process used to resolve California workers’ comp medical disputes shows that after dipping for the first time ever in 2017, the number of IMR decision letters rose to an all-time high in 2018, though once again in about… [Read more]
New WCRI Study: Workers’ Compensation Laws as of January 1, 2019
Boca Raton, FL – WCRI recently announced the release of an essential tool for stakeholders to identify the similarities and distinctions between workers’ compensation regulations and benefit levels in U.S. states and Canadian provinces, along with the International Association of Accident Boards and Commissions (IAIABC). In Canada and the United States, workers’ compensation is entirely… [Read more]
Liberty Mutual Releases 2019 Workplace Safety Index
Boston, MA – Liberty Mutual recently released its annual Workplace Safety Index, which documents the top ten causes of the most serious workplace injuries – those causing an employee to miss five or more days from work – and ranks them by their direct cost to employers, which consists of medical and lost-wage payments. The… [Read more]
AM Best Upgrades Issuer Credit Rating of Stonetrust Commercial Insurance Company
Oldwick, NJ -(BusinessWire)- AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating of B++ (Good) of Stonetrust Commercial Insurance Company (Stonetrust) (headquartered in Baton Rouge, LA). The outlook of these Credit Ratings (ratings) remains stable. The ratings reflect Stonetrust’s balance sheet strength, which… [Read more]