Boston, MA – Insight Service Group (ISG) and Shift Technology, a provider of AI-driven decision automation and optimization solutions for the global insurance industry, recently announced the two organizations have entered a new partnership. As a result, insurance carriers, third party administrators and self-insured organizations in the workers’ compensation, and property and casualty markets can… [Read more]
Claims, Legal, & Compliance News
Guest Post: How to Use Behavioral Science to Help Motivate Injured Workers During Recovery
By John C. Peters, PhD, Chief Science Officer, Gain Life The biggest driver of delayed recovery and claims costs is psychosocial in nature, according to the 2016 Workers’ Compensation Benchmarking Study. As our friend and industry veteran, Peter Rousmaniere, wrote: “We know the single greatest roadblock to timely work injury recovery and controlling claim costs.… [Read more]
WCRI: Medical Payments per Workers’ Comp Claim in WI Among Highest
Cambridge, MA – Medical payments per claim with more than seven days of lost time in Wisconsin were among the highest of 18 states studied and changed little from 2014 to 2019, according a recent study by the Workers Compensation Research Institute (WCRI). “Higher-than-typical prices paid for professional (nonhospital) services were the main driver of… [Read more]
CA WCIRB Releases Update Report on COVID-19 Workers’ Comp Claims Impact
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its COVID-19 in California Workers’ Compensation report, which details the characteristics of COVID-19 workers’ compensation claims in California and their impact on the state’s workers’ compensation system. Highlights of the report include: Almost 160,000 COVID-19 claims, including denied claims, were reported… [Read more]
Bailey Southwell & Co. Advises CRC on Growth Investment from Ardent Investors
Nashville, TN – Bailey Southwell & Co. recently announced it acted as exclusive financial and strategic advisor to Claims Resolution Corporation in its growth investment from Ardent Investors, a private investment firm investing exclusively in lower middle market companies. With more than 30 completed payer services transactions encompassing key functions across the full claims management… [Read more]
CA DWC Posts 2020 Audit Unit Annual Report and Ranking Report
San Francisco, CA – The Division of Workers’ Compensation (DWC) has posted the 2020 DWC Audit Unit annual report on its website. The Audit Unit annual report provides information on how claims administrators audited by the DWC performed and includes the Administrative Director’s ranking report for audits conducted in calendar year 2020. The Audit Unit… [Read more]
Service Lloyds Selects Origami Risk P&C Insurance Solution Suite
Austin, TX – Service Lloyds Insurance Company, a nationwide workers’ compensation insurer writing more than $250 million in annual premium, has selected Origami Risk’s Property/Casualty Insurance Solution Claims Suite for the accelerated nationwide implementation of a fully integrated, single platform for claims adjudication, reporting, and delivery of enhanced client services. Specifically, Origami’s claims suite offers… [Read more]
Carisk, Tower MSA and Ametros Launch Integrated Workers’ Comp Case Closure & Settlement Solution
Miami, FL – Carisk Partners, Tower MSA Partners, and Ametros recently announced the launch of a novel, patient-centered case closure and settlement solution. The integrated program provides continuity in care and accurate medical cost projections while improving the settlement process for injured patients and workers’ compensation payers. “We’re excited to partner with industry leaders Tower… [Read more]
Safety National Webinar: The Rising Risks of Social Inflation
St. Louis, MO – Safety National recently announced a new complimentary webinar, noting that the growing emergence of higher jury awards continues to heavily impact insurance losses, particularly so in consumer-facing industries. In 2019 alone, nuclear verdicts were responsible for 74 class action settlements totaling $2 billion. In the webinar a panel of experts will… [Read more]
Origami Risk Packages Solutions for P&C Insurers, TPAs, Pools, MGAs to Administer Workers’ Comp Claims
Chicago, IL – Origami Risk recently announced it has packaged its popular online workers’ compensation claims administration solutions into a standard offering to help insurance carriers, third party administrators (TPAs), risk pools and managing general agents (MGAs) leverage built-in best practices, accelerate implementation timelines, and reduce related costs. “As the largest segment of the U.S.… [Read more]