The decline in net written premiums for workers compensation is projected to continue this year, according to NCCI’s latest Financial Update newsletter. Among other findings: The net combined ratio for workers compensation is projected to show little change in 2010 On average, the approved WC bureau rates/loss costs decreased in 2010 Residual market premium continues… [Read more]
Workers' Compensation
U.S. Physical Therapy Introduces Workers Compensation and Disability Initiative Fit2WRK™
HOUSTON–(BUSINESS WIRE)–U.S. Physical Therapy, Inc. (NasdaqGS: USPH), a national operator of outpatient physical therapy clinics, announced that it has successfully launched a workers compensation and disability initiative called Fit2WRK. Fit2WRK provides an integrated solution for the management and prevention of injuries in the workplace. Through Fit2WRK, U.S. Physical Therapy has secured a number of network… [Read more]
Washington Dept. of L&I’s Fraud-fighting Program Collects $137 Million
UMWATER — The fight against fraud by the Department of Labor & Industries’ Fraud Prevention and Compliance Program brought in $137.4 million in 2010. The total, detailed in L&I’s annual report to the legislature, Targeting Fraud and Abuse, includes payments from employers for delinquent or falsely reported premiums. It also includes recovered payments to injured… [Read more]
Gen Y Poised to Fuel Small Business Growth in Next Five Years According to EMPLOYERS® National Poll
Poll provides insight into how Gen Y wants to do business with insurance companies RENO, Nev., Jan. 18, 2011 /PRNewswire/ — Nearly half (46 percent) of Generation Y say they plan to start their own business in the next five years, according to a national poll commissioned by EMPLOYERS®, America’s small business insurance specialist®. Amid… [Read more]
Montana Bill Would Cut Workers’ Comp to Illegal Aliens
(Insurance Journal) A Montana lawmaker has proposed reducing the cost of state workers’ compensation insurance by prohibiting illegal immigrant workers from collecting benefits when they are injured. House Bill 71, sponsored by Rep. Gordon Vance, R-Bozeman, would require a workers’ comp insurer to develop a verification process to determine if an injured employee… SOURCE: Insurance… [Read more]
Texas Division of Workers’ Compensation Announces December Enforcement Actions
AUSTIN, TX – Commissioner of Workers’ Compensation Rod Bordelon recently announced final disciplinary actions taken by the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC). The final actions include orders related to violations of the Texas Labor Code and rules promulgated by the Commissioner of Workers’ Compensation. Copies of Commissioner of Workers’ Compensation orders… [Read more]
Liberty Mutual Continues Fight with AIG as Other Insurers Settle
American International Group has negotiated a $450 million settlement with seven of its competitors in the protracted litigation over its questionable reporting of workers’ compensation premiums. But the long-running saga over under-reported premiums may not be over for AIG because the key party representing the class of insurers in the legal action… SOURCE: Insurance Journal… [Read more]
Senator Collins Shines Light on Federal Workers’ Comp Waste
WASHINGTON, D.C. -U.S. Senator Susan Collins, Ranking Member of the Homeland Security and Governmental Affairs Committee, has called for a thorough review of the program that provides federal employees with protection against loss of income from work-related injuries. The Federal Employee Compensation Act (FECA) pays benefits to roughly 49,000 federal employees to ensure that injured… [Read more]
California CHSWC posts draft of “Working Safer or Just Working Longer? The Impact of an Aging Workforce on Occupational Injury and Illness Costs”
OAKLAND — The Commission on Health and Safety and Workers’ Compensation (CHSWC) approved posting of the draft report “Working Safer or Just Working Longer? The Impact of an Aging Workforce on Occupational Injury and Illness Costs” for feedback and comment and for final posting in 30 days. There has been concern about the impact of… [Read more]
Washington Governor Wants to Reform Workers’ Comp
Washington Gov. Chris Gregoire has proposed several changes to the state’s workers’ compensation system to help the state out of the recession and support the vitality of businesses. The proposed changes she estimates would save the workers’ compensation system $720 million over four years. Of that $720 million, the following would save $560 million… SOURCE:… [Read more]