Workers Compensation Experience Modification Rate: The Split Point Threat August 15, 2014

Save this PDF as:

Size: px
Start display at page:

Download "Workers Compensation Experience Modification Rate: The Split Point Threat August 15, 2014"

Transcription

1 Workers Compensation Experience Modification Rate: The Split Point Threat August 15, 2014 John Sweeney Vice President Marsh & McLennan Agency LLC

2 Split Point Threat The purpose of the presentation is to communicate a change that will impact 40% of all businesses. The change will significantly and negatively impact 120,000 small businesses meeting the definition established by the Small Business Administration. At the conclusion of the presentation you will understand The purpose of NCCI s Workers Compensation Experience Modification Rate (EMR) and its Formula What the split point change will do to impact your EMR Implications if the EMR is negatively impacted Actions you can take to forecast, budget and manage results 1

3 Purpose What is the purpose of the EMR? Adjustment of annual Workers Compensation premium based on previous loss experience. Contemplates the past three FULL years of losses and audited payrolls (experience period). Measurement of the frequency of losses during the experience period. Comparative measurement by occupation NOT A MEASURE of RISK MANAGEMENT and SAFE WORKPLACE PRACTICES 2

4 Formula The Formula primarily used by NCCI is: A = weight factor G = ballast I = actual primary losses H = actual incurred losses F = actual excess losses (H I) E = expected primary losses D = expected incurred losses C = expected excess losses (D E) I+(Cx(1 (1 A) + G) + (A x F) E + (C x (1 A) + G) + (A X C) In the simplest of terms it is Actual Losses divided by Expected Losses Although statistical values vary by State, all States use the same methodology 3

5 Formula The formula is broken down into three categories: Primary Losses Actual Primary Losses (experience) Expected Primary Losses (determined by actuarial adjustment to payroll Stabilizing Values Weighting Factor and Ballast Mysterious and unpublished actuarial adjustment Ratable Excess Weighting factor multiplied by excess losses In the formula Actual Primary Losses are weighted about 2 times as much as Ratable Excess Losses. Primary Losses are FULLY WEIGHTED. What proportion of loss allocated to Actual Primary Losses is called the SPLIT POINT. 4

6 Split Point Split Point has not changed in over twenty years For the past twenty years the split point has been \$5,000 Claim Costs have more than tripled in this period. The percentage of claim cost that goes into the formula as fully weighted is much smaller than 20 years ago. The conclusion is to change the Split Point to return the integrity of the EMR to that of 20 years ago. NCCI, and non-ncci Jurisdictions actuarially agree and have done the following: Beginning on or after January 1, 2013 a three year phase in of the change will occur increase from \$5,000 to \$10, increase from \$10,000 to \$13, increase from \$13,500 to \$15,000 5

7 Negative Impact If you have NO LOSSES in the Experience Period, you will NOT be impacted If you have had NO LOSSES GREATER THAN \$5,000 in the Experience Period, you will NOT be impacted If you never have a loss or never have a loss greater than \$5,000 in the future, you will NOT be impacted. If you have had losses greater than \$5,000 or believe there is a possibility of future losses greater than \$5,000, YOU WILL BE IMPACTED. 6

8 Negative Impact Consequences of an increase in EMR as a result in: Immediate Financial Impact as a result of increased Workers Compensation Premiums Continued Financial Impact for a minimum of 3 years as a result of increased Workers Compensation Premiums Uncompetitive do to higher direct costs. If modification moves over 1.00, potential loss of bidding eligibility with some customers Increased administrative activity to address situation adding to G&A costs Decreased attractiveness to insurance carriers in the Workers Compensation Insurance marketplace Requires a call for action What can you do? 7

9 Forecast, Budget and Manage FORECAST Loss data is captured 6 months before the Anniversary of the EMR rating (your Workers Compensation renewal date) - 7 Months before your EMR Anniversary conduct a claim review with your Insurance Professional and/or Insurance Carrier of all claims. - Focus on reserve levels appropriate? - Close or settle claims were possible. - Continue periodically in perpetuity. 6 Months before your EMR Anniversary ask your Insurance Professional to do a Test EMR. You and your Insurance Professional should audit the EMR Worksheet - On average 1 out of 5 calculations have some level of error. 8

10 Forecast, Budget and Manage BUDGET Using the test audit result - Include the result in your financial budget - Build added costs into the cost of services Consider the added costs of Loss Prevention and Claim Mitigation in your financial planning - Aggressively seek advice and counsel on means and methods Repeat the forecast phase annually or at critical operational milestones 9

11 Forecast, Budget and Manage MANAGE Evaluate and improve hiring practices Provide comprehensive job descriptions including physical demands Establish zero drug and alcohol tolerances Comprehensive new hire orientation with sign off on corporate safety, health and policies Adopt a mission of accident reduction and a overall mission of Zero Accidents Establish accountability for Safety at all levels Foster and reinforce a culture of safety at all levels in the organization Identify Safety Leaders and ensure proper training i Stay VIGILANT on losses and accidents Review, Measure and Forecast continually 10

12 Final Thoughts Bid Eligibility & Attractiveness of Workers Compensation to Carriers If you find your EMR is or will be greater than 1.00 then: - Prepare a portfolio of your Risk Management and Safety Protocols - Gather other Safety Metrics such as OSHA logs, Risk Control Letters from Carriers, etc - Describe your loss experience and demonstrate how it is a matter of circumstance, which is unrelated or out of your control - Provide calculations (EMR Tests) that show your EMR if loss(es) did not occur The EMR is not a pure measure of effective risk management and your safety program, but it has inappropriately grown to be a simplistic threshold BE ACTIVE with Associations, CO s, KO s and your customers to educate and win their understanding, hearts and minds. 11

13 Split Point Threat Questions? 12

14

Workers Compensation: Practical Tips for Dealing With NCCI s Split Point Rating Change

Workers Compensation: Practical Tips for Dealing With NCCI s Split Point Rating Change November 2012 Lockton Companies A key factor in your workers compensation premium is your experience mod. The e-mod

STRATEGIES FOR MANAGING WORKERS COMPENSATION EXPERIENCE MODIFICATION FACTORS

STRATEGIES FOR MANAGING WORKERS COMPENSATION EXPERIENCE MODIFICATION FACTORS Introduction The National Council on Compensation Insurance (NCCI) recently announced its plan to modify how a company s Experience

Claims Management. Our Claims Management Mission. Claims Management Team

Claims Management Our Claims Management Mission To provide the highest level of customer service, proactive claims management, and loss control strategies that will reduce the cost of risk, increase customer

EMR as Qualifier to Bid on Construction Projects

EMR as Qualifier to Bid on Construction Projects July 14, 2011 Introduction This white paper discusses the use of the experience rating modification (commonly referred to as EMR in the construction trades)

What is an Emod? What is an Emod? Experience Modifier Not to be confused with Emöd, Hungary

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Experience Mod Calculation WCF Underwriting Top Questions About Emods 1. What is an Emod? 2. How do I qualify? 3. So it s just a comparison? 4. I haven t had any

WORKERS COMPENSATION EXPERIENCE MODIFICATION FACTOR. For All That Matters

WORKERS COMPENSATION EXPERIENCE MODIFICATION FACTOR For All That Matters WHAT S A WORKERS COMPENSATION EXPERIENCE MODIFICATION FACTOR? Your Work Comp Experience Modification Factor (E-Mod) is a primary

Strategies for Reducing Workers Compensation Expenses

Strategies for Reducing Workers Compensation Expenses Workers Compensation is the Prime Employee Benefit 100% Paid by Employer Every Employer Must Provide 100% Paid by Employer Employee Benefits Require

Maneuvering the Human Resource Landmines in Handling Workers Comp Claims

Maneuvering the Human Resource Landmines in Handling Workers Comp Claims This presentation is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Attendees

Understanding Your Workers Compensation Experience Mod Factor and Its Relationship to Safety Colorado Contractors Assn.

Understanding Your Workers Compensation Experience Mod Factor and Its Relationship to Safety Colorado Contractors Assn. April, 2014 Sonja J. Guenther, ALCM, ARM, CIC, CRM Sr. Vice President, Willis of

Corporate Consulting Services, Ltd. Workers Compensation in Today s Environment

Corporate Consulting Services, Ltd. Workers Compensation in Today s Environment 2014 Corporate 2014 Corporate Consulting Consulting Services, Services, Ltd. Ltd. Forces Impacting Workers Compensation Today

HOME HEALTH CARE WORKERS COMPENSATION APPLICATION

HOME HEALTH CARE WORKERS COMPENSATION APPLICATION Insured Information Named Insured & dba Mailing Address Physical Address FEIN Contact Information Contact Person Phone Email Primary Contact Risk Control/Safety

Control Costs by Understanding Experience Rating. Prepared by: Specific Software Solutions

Control Costs by Understanding Experience Rating Prepared by: Specific Software Solutions Copyright 2003 by Timothy L. Coomer All rights reserved. This book, or parts thereof, may not be reproduced in

White Paper. Managing Your Workers Compensation Experience Modification. People helping people...it s what we do best.

White Paper Managing Your Workers Compensation Experience Modification People helping people...it s what we do best. For many businesses workers compensation is the largest single property or liability

Mark Maritato, EH&S Specialist, ecomaine maritato@ecomaine.org June 20, 2014

Mark Maritato, EH&S Specialist, maritato@.org June 20, 2014 's Safety Program Evolution Mark Dolloff becomes Safety Supervisor (2004) completes comprehensive safety manual "book (2006) receives first Maine

MASTER TEXT COPY CONSENSUSDOCS 221 CONTRACTOR'S STATEMENT OF QUALIFICATIONS FOR A SPECIFIC PROJECT

CONSENSUSDOCS 221 CONTRACTOR'S STATEMENT OF QUALIFICATIONS FOR A SPECIFIC PROJECT This document was developed through a collaborative effort of entities representing a wide cross-section of the construction

Minnesota Experience Rating Plan Manual

Minnesota Experience Rating Plan Manual TABLE OF CONTENTS 1 PREFACE TO THE MINNESOTA EXPERIENCE RATING PLAN MANUAL...P1 A. JURISDICTION WHERE MANUAL APPLIES...P1 B. JURISDICTIONS WHERE MANUAL DOES NOT

May 17, 2012. Circular Letter No. 12-1614

Minnesota Workers Compensation Insurers Association, Inc. 7701 France Avenue South Suite 450 Minneapolis, MN 55435-3200 May 17, 2012 ALL ASSOCIATION MEMBERS Circular Letter No. 12-1614 RE: NCCI Item E-1402

Workers Compensation Solutions from CNA. www.cna.com

Workers Compensation Solutions from CNA www.cna.com A commitment to your employees A commitment to your company Take a look around your company. Chances are, your workplace has changed in the past 10 years.

TRUE COSTS OF CONSTRUCTION ACCIDENTS: Hidden Incentive for Construction Automation and Robotics

Automation and Robotics in Construction XII E.Budny, A.McCrea, K. Szymanski (Editors) 1995 IMBiGS. All Rights reserved. 19 TRUE COSTS OF CONSTRUCTION ACCIDENTS: Hidden Incentive for Construction Automation

State of the Workers Compensation Market

State of the Workers Compensation Market and Recent Experience Rating Changes Presented by: Tony DiDonato, FCAS, MAAA Director & Senior Actuary, NCCI CASE Spring Meeting March 27, 2013 Nashville, TN Workers

What is Your Acceptable Level of Workers Compensation Risk?

October 2013 A PMA Companies Thought Leadership Publication What is Your Acceptable Level of Workers Compensation Risk? Knowing this answer and targeting your loss prevention program around it can transform

3. 4. Missouri Employers Mutual Understand How it Can Add Up to Savings For more information: www.mem-ins.com 1.800.442.0593 These recommendations were developed from national standards and sources believed

Sample Solutions SABER RISK SOLUTIONS, LLC 2700 POST OAK BLVD., SUITE 1400 HOUSTON, TEXAS 77056 832-369-7554 WWW.SABERRISKSOLUTIONS.

Sample Solutions SABER RISK SOLUTIONS, LLC 2700 POST OAK BLVD., SUITE 1400 HOUSTON, TEXAS 77056 832-369-7554 WWW.SABERRISKSOLUTIONS.COM Empowered Data Services Can you effectively answer the multiple questions

Connecticut Voluntary Loss Cost and Assigned Risk Rate Filing Proposed Effective January 1, 2015

Connecticut Voluntary Loss Cost and Assigned Risk Rate Filing Proposed Effective January 1, 2015 The 2014 Connecticut Workers Compensation Voluntary Loss Costs and Assigned Risk Rates ( Filing ) is the

DECEMBER 28, 2007 ANNOUNCEMENT FL 2007 13 Florida Item 04 FL 2007 Terrorism Risk Insurance Program Reauthorization Act of 2007

STATE RELATIONS REGULATORY SERVICES Circular DECEMBER 28, ANNOUNCEMENT FL 13 Florida Item 04 FL Terrorism Risk Insurance Program Reauthorization Act of ACTION NEEDED BACKGROUND IMPACT NCCI ACTION PERSON

WORKERS COMPENSATION RATEMAKING PROCESSES OF THE NATIONAL COUNCIL ON COMPENSATION INSURANCE, INC.

WORKERS COMPENSATION RATEMAKING PROCESSES OF THE NATIONAL COUNCIL ON COMPENSATION INSURANCE, INC. JANUARY 2014 CONTENTS 1. Introduction... 1 Scope... 1 Overview of the NCCI Ratemaking Methodology... 2

Managing Workers Compensation Costs and Loss Control in the Workplace

Managing Workers Compensation Costs and Loss Control in the Workplace Managing Workers Compensation Costs and Loss Control in the Workplace Presented by: Denise Moore, CIC Association Programs Director

WISCONSIN EXPERIENCE RATING PLAN MANUAL

WISCONSIN EXPERIENCE RATING PLAN MANUAL Effective January 1, 2005 issued by: 20700 Swenson Drive, Suite 100 Waukesha, WI 53186 Contains Materials Copyrighted by the National Council on Compensation Insurance,

Manage Your EMR: Why Ex Mods Are A Poor Safety Measurement And What You Can Do About It!

Dave Smith & Company Manage Your EMR: Why Ex Mods Are A Poor Safety Measurement And What You Can Do About It! The EMR (Workers Compensation Insurance Experience Modification Rating) continues to be used

PEO Myths vs. Reality. By Clay Kelley

PEO Myths vs. Reality By Clay Kelley 1 Clay Kelley Background Clay Kelley has been in the HR Outsourcing and PEO business since 1985. He has participated in seven mergers and acquisitions and assisted

Dave Smith & Co Inc Manage Your Experience Modification Rate Average View Of Insurance Why the Ex Mod is a Poor Safety Measure and What you Can Do About It Actual What Is The EMR? Workers Compensation

HEADWINDS FOR CALIFORNIA WORKERS COMPENSATION: TAKING THE HELM

HEADWINDS FOR CALIFORNIA WORKERS COMPENSATION: TAKING THE HELM February 2012 Colleen Britz Managing Director Tom Cammann Managing Director Jay Wesley Managing Director Los Angeles, CA Headwinds for California

Best Practices for Reducing Workers' Compensation- Related Costs

Best Practices for Reducing Workers' Compensation- Related Costs Sept. 24 How to Ask a Question Questions Panel Type your questions into the Questions panel and click Send. How to Submit Your CE for This

STATE OF CONNECTICUT INSURANCE DEPARTMENT

STATE OF CONNECTICUT INSURANCE DEPARTMENT In the Matter Of: Filing of National Council on Compensation Insurance, Inc. for a Change in Voluntary Market Advisory Loss Costs and a Change in Assigned Risk

C. Be Smart About Safety Safety, Loss Prevention & Loss Mitigation Program Be Smart About Safety Funding of the Be Smart About Safety Program

Office of the President, Finance Office Office of Risk Services Guidelines for Distribution and Use of Workers Compensation Funds Including Be Smart About Safety Program This document provides funding

Occupational Math: How Safety Professionals / Risk Managers Contributions Affect the Bottom-Line

Occupational Math: How Safety Professionals / Risk Managers Contributions Affect the Bottom-Line Cathi L. Marx, ALCM, COSS, CHS-V President Aspen Risk Management Group First Things First: Question:Should

Calculating Loggers Worker s Compensation Insurance Premium

Calculating Loggers Worker s Compensation Insurance Premium Prepared by Jingxin Wang West Virginia University Division of Forestry Morgantown, WV 26506 Most loggers consider worker s compensation insurance

EXPERIENCE. COMMITMENT. STABILITY.

EXPERIENCE. COMMITMENT. STABILITY. 5 Why experience rating? Insurance is the spreading or sharing of risk by a group of policyholders who are likely to experience losses. The losses of an entire group

WORKERS COMPENSATION GLOSSARY

WORKERS COMPENSATION GLOSSARY ACCIDENT An unplanned and unexpected event which occurs suddenly and at a definite place resulting in injury and/or damage. ACCIDENT FREQUENCY The rate of the occurrence of

Heffernan Insurance Presents: A Workers Compensation Update A review and what s on the horizon?

Heffernan Insurance Presents: A Workers Compensation Update A review and what s on the horizon? April 28, 2015 Debra Parker, COSS Risk and Safety Consultant Director of Marketing Aspen Risk Management

SUBCONTRACTOR Pre-Qualification Form

Please complete the form below and email (form and all attachments) to prequal@cswcontractors.com or fax to 602-266-7070. If all information is not provided and all attachments are not submitted this will

Safety Programs and Policies

Safety Programs and Policies Safety Programs and Policies Wesley L. Wheeler NECA National Director of Safety This session is eligible for: 1 Continuing Education Hour and 1 Contact Hour. To earn these

Building a Successful. Geoffrey Hall George Cesarini Joseph Crowther

Building a Successful Construction Wrap-Up Program Geoffrey Hall George Cesarini Joseph Crowther Building a Successful Construction Wrap-Up Program Geoffrey Hall, George Cesarini, and Joseph Crowther October

Retirement and Benefits, Risk Management, and Procurement (revised 3/5/14)

Retirement and Benefits, Risk Management, and Procurement (revised 3/5/14) Sample Examination 1. In the public sector, there are commonly separate pension plans covering: a) general employees. b) public

Application for Safety Prequalification (SFT-21)

(It is recommended that this form be completed electronically using Microsoft Word or a compatible program.) Applying For What Project: What Mall is it located at? Date of Application Company Name Company

WCB-Alberta 2014 Premium Rates Foreword The Alberta Workers Compensation Board sets premium rates annually for each industry. This guide is meant to provide a basic understanding of the process for setting

APPENDIX A AURA SAFETY AND HEALTH QUESTIONNAIRE FOR BIDDERS

APPENDIX A AURA SAFETY AND HEALTH QUESTIONNAIRE FOR BIDDERS Evaluation Criteria for Bidder Selection All bidders are required to complete the AURA Safety and Health Questionnaire for Bidders that will

The Secret To Shedding Your HR Administrative Burdens Produced & Distributed by G&A Partners 1 (888) 909-7920 www.gnapartners.com/get-started The Secret To Shedding Your HR Administrative Burdens: Outsourcing

Minnesota Workers' Compensation Assigned Risk Plan. Financial Statements Together with Independent Auditors' Report

Minnesota Workers' Compensation Assigned Risk Plan Financial Statements Together with Independent Auditors' Report December 31, 2012 CONTENTS Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS: Balance

Virginia Workers Compensation Commission Frequently Asked Insurance Questions for Employers

Virginia Workers Compensation Commission Frequently Asked Insurance Questions for Employers The information contained below is general in nature and is not intended and may not be considered as providing

I. PolIcy ServIceS A POLICY TO DO MORE. I. POLICy ServICeS FHM. INSurANCe COMPANy

A POLICY TO DO MORE I. PolIcy ServIceS I. POLICy ServICeS FHM INSurANCe COMPANy POLICY SERVICES FHM s Policy Services Department is responsible for the ongoing management of policies which includes management

Aon Risk Solutions Experience Modification Rating An Accurate Measure of Safety?

Aon Risk Solutions Experience Modification Rating An Accurate Measure of Safety? Rick Church, CSP, ARM, Director, Risk Control Services Aon Risk Solutions Construction Services Group 1901 Main Street,

Experience Rating in LMCIT s Liability and Workers Compensation Premiums

INFORMATION MEMO Experience Rating in LMCIT s Liability and Workers Compensation Premiums Understand League of Minnesota Cities Insurance Trust s (LMCIT s) experience rating formula, which compares the

EXPERIENCE RATING PLAN MANUAL for

NEW YORK EXPERIENCE RATING PLAN MANUAL for WORKERS COMPENSATION and EMPLOYERS LIABILITY INSURANCE 2006 Edition NEW YORK COMPENSATION INSURANCE RATING BOARD 200 EAST FORTY-SECOND STREET NEW YORK, NY 10017

Workers Compensation Guide

Workers Compensation Guide Table of Contents Introduction: The Workers Compensation System 1 A Great Social Compromise 1 Chapter 1: Policy Organization, General Section 5 Policy Organization 5 General

A Review of Commonly-Used Performance Indicators By Jerome E. Spear, CSP, CIH How an organization measures performance undoubtedly influences organizational behavior. However, measuring safety is difficult

Five Best Practice Strategies for Maintaining Excellence in Workers Compensation Self-Insured Groups

Five Best Practice Strategies for Maintaining Excellence in Workers Compensation Self-Insured Groups Safety National is the market leader for providing excess workers compensation coverage for self-insured

Quick Guide to Workers Compensation

Quick Guide to Workers Compensation What Is Workers Compensation Insurance? Workers compensation insurance covers businesses for their statutory and legal obligations for employee expenses that are a direct

Mr Rob Hinrichs, Workplace Safety and Insurance Board, Ontario, Canada. (Sir William Meredith)

Mr Rob Hinrichs, Workplace Safety and Insurance Board, Ontario, Canada (Sir William Meredith) (Association of Workers Compensation)(AWCBC)!"#\$%&'()!"#\$%&'()!"#\$% !"#\$%! (The Canadian Institute of Actuaries)(CIA)

The New Workers Compensation Experience Mod. Billy Smith EVP, Risk Management Pete Bellnier, Sr. Underwriter, Workers Compensation

The New Workers Compensation Experience Mod Billy Smith EVP, Risk Management Pete Bellnier, Sr. Underwriter, Workers Compensation 1 Why is There an E-Mod? Industry Standard Individual Employer s Published

APPENDIX C EHS CONTRACTOR QUALIFICATION QUESTIONNAIRE

APPENDIX C EHS CONTRACTOR QUALIFICATION QUESTIONNAIRE SGI is committed to 1) providing a safe and healthy workplace for all employees, contractors and neighbors and 2) conducting business in a manner that

HOW TO REIN IN WORKERS COMPENSATION COSTS. October 2013

HOW TO REIN IN WORKERS COMPENSATION COSTS October 2013 COST DRIVERS: PREMIUMS AND CLAIMS COSTS Insurers pushing for workers compensation rate increases. Especially risks with unfavorable loss experience

Workers Compensation Ratemaking An Overview

Workers Compensation Ratemaking An Overview Insurance Company Perspective Andrew Doll, QBE Regional Insurance Company CAS 2010 Ratemaking and Product Management Seminar Chicago, Illinois - March 16, 2010

The Secret To Shedding Your HR Administrative Burdens. Produced & Distributed by G&A Partners

The Secret To Shedding Your HR Administrative Burdens Produced & Distributed by G&A Partners 1 The Secret To Shedding Your HR Administrative Burdens: Outsourcing Provides You the Time You Need to Tend

Construction Company Capacity Assessment

Business/Firm Name: Vendor NCDOT Number: Contact Address: Construction Company Capacity Assessment Name/Title of Person Taking Assessment: Phone Contact Information: Email Contact Information: List Current

Note: It is suggested that you examine your current Policies and contact your Insurance Broker before answering the following questions.

FORM 1 Page 1 of 2 INSURANCE COST INFORMATION WORKSHEET All Contractors, Subcontractors, and Sub subcontractors of every tier, are required to complete this worksheet and submit as part of your bid. Note:

Healthcare Reform Provisions Unique to Small Employers/Financial and Other Benefits Concerns for All Employers (updated May 2, 2014)

/Financial and Other Benefits Concerns for All Employers (updated May 2, 2014) Lisa L. Carlson, J.D., Area Senior Vice President, Compliance Counsel Gallagher Benefit Services, Inc. While most healthcare

VERMONT DEPARTMENT OF BANKING, INSURANCE, SECURITIES, AND HEALTH CARE ADMINISTRATION

VERMONT DEPARTMENT OF BANKING, INSURANCE, SECURITIES, AND HEALTH CARE ADMINISTRATION TECHNIQUES TO STABILIZE VERMONT WORKERS COMPENSATION PREMIUM COSTS AND MINIMIZE THE IMPACT OF LARGE CLAIMS Prepared

Building a Business Case for Safety

8 th Annual Workers Compensation Conference Building a Business Case for Safety May 27, 2009 Bob Pierce Manager, Certification and Education Health and Safety Division Bureau of Workers Compensation Highlights

AIHA's View of the Use of OHS Performance Criteria In Contracting and Procurement White Paper

AIHA's View of the Use of OHS Performance Criteria In Contracting and Procurement White Paper AIHA believes that consideration of OH&S performance history in the awarding of contracts not only help ensure

O FFICE O F T HE C ITY A UDITOR. 14 04 City of Colorado Springs and Colorado Springs Utilities Claims Reserve and Workers Compensation Funds

O FFICE O F T HE C ITY A UDITOR C OLORADO S PRINGS, C OLORADO 14 04 City of Colorado Springs and Colorado Springs Utilities Claims Reserve and Workers Compensation Funds February 2014 O FFICE O F T HE

Title 24-A: MAINE INSURANCE CODE

Maine Revised Statutes Title 24-A: MAINE INSURANCE CODE Chapter 26: THE WORKERS' COMPENSATION RESIDUAL MARKET DEFICIT RESOLUTION AND RECOVERY ACT HEADING: PL 1995, c. 289, 11 (new) 2392. DEFINITIONS As

Risk Management Briefing Navigate a Challenging Insurance-Related Issue

Risk Management Briefing Navigate a Challenging Insurance-Related Issue Self-Insurance: What Every Contractor Should Know Self-insured. In the purest sense, it implies being big, powerful, and self reliant.

Destination: EXCELLENCE. Introduction and overview

Destination: EXCELLENCE Introduction and overview Welcome > Destination: Excellence > Introduction > Program list > Individual program details > Program description > Program benefits (not only about the

Florida Workers Compensation Insurance Rates Decrease By 5.2% in 2015, Down by More than 57% Since the 2003 Reforms

Florida Workers Compensation Insurance Rates Decrease By 5.2% in 2015, Down by More than 57% Since the 2003 Reforms A. Introduction. Rafael Gonzalez Vice President of Strategic Solutions Helios Tampa,

The Essential Trustee Trustee Training 101. 800.851.7789 www.siia.org

The Essential Trustee Trustee Training 101 800.851.7789 www.siia.org Trustee Responsibilities Learning Objectives Overview of group self insurance Causes of self insurance group failures Fiduciary responsibilities

ACTUARIAL CONSIDERATIONS IN THE DEVELOPMENT OF AGENT CONTINGENT COMPENSATION PROGRAMS

ACTUARIAL CONSIDERATIONS IN THE DEVELOPMENT OF AGENT CONTINGENT COMPENSATION PROGRAMS Contingent compensation plans are developed by insurers as a tool to provide incentives to agents to obtain certain

Financial Data Validation. Objectives

Financial Data Validation Presented by: Robin Regester and Scott Wendt 1 Objectives To provide an understanding of the importance of Financial Call data validation, discuss other validation tools and methods

2015 Construction Workers Compensation and OSHA Update

Insurance Services Risk Management Employee Benefits A WS&Co. Update February 2015 2015 Construction Workers Compensation and OSHA Update In this challenging construction environment the Woodruff-Sawyer

Distribution dates and documents September 18: Dividend information will be available to agents and associations through Business Online.

www.saif.com MEMORANDUM DATE: TO: FROM: SUBJECT: Appointed Agents/Group Association Partners Michelle Graham, Vice President of Policyholder Services Bruce Hoffman, Vice President of Underwriting Services

Insurance & Risk Management Update: November 2011

Insurance & Risk Management Update: November 2011 Jeffrey A. Lind, CPCU, CIC Clark Insurance November 17, 2011 Topics Current state of the insurance marketplace Property & Liability Flood Risk Hurricane

CIRCULAR LETTER NO. 2137

January 8, 2010 CIRCULAR LETTER NO. 2137 To All Members and Subscribers of the Bureau: Adoption of NCCI s 2009 Retrospective Rating Plan Manual, Corresponding Massachusetts State Exception Pages and Retrospective

Summary of Plans. Flex Choice PPO 2000 Cigna Network. 25th of month Prior to Effective date

Summary of Plans 1 2 3 4 5 Benefits Flex Choice PPO 1000 Flex Choice PPO 2000 Flex Choice PPO 2500 Flex Choice PPO 3500 Flex Choice PPO 5000 \$125 Processing Fee Referrals Req'd No No No No No Plan Anniversary

Workers Compensation Optimal Claims Management

OVERALL OBJECTIVE - ECM seeks to provide a consultative relationship in which we work with our clients to influence and improve their Risk Management Process. Following are a few suggestions regarding

THE UNIVERSITY OF CALIFORNIA ERM PROGRAM REDUCES THE COSTS OF RISK AND BORROWING

THE UNIVERSITY OF CALIFORNIA ERM PROGRAM REDUCES THE COSTS OF RISK AND BORROWING BY JOHN BUGALLA AND KRISTINA NARVAEZ In December 2005, the University of California s Department of Risk Management was

Experience Rating Plan Manual for Workers Compensation and Employers Liability Insurance

Experience Rating Plan Manual for Workers Compensation and Employers Liability Insurance Rule 1.A Rule 1.B.1 Rule 1.B.2 Experience rating recognizes the differences among insureds by comparing the experience

A REVIEW OF CURRENT WORKERS COMPENSATION COSTS IN NEW YORK

Consulting Actuaries A REVIEW OF CURRENT WORKERS COMPENSATION COSTS IN NEW YORK Scott J. Lefkowitz, FCAS, MAAA, FCA CONTENTS Introduction... 1 Summary of the 2007 Legislation... 3 Consequences of the 2007

November 2, 2005. Circular Letter 05-1471. New Minnesota Employee Leasing Rules and Endorsements

Minnesota Workers Compensation Insurers Association, Inc. 7701 France Avenue South Suite 450 Minneapolis, MN 55435-3200 November 2, 2005 ALL ASSOCIATION MEMBERS Circular Letter 05-1471 RE: New Minnesota

Contractor Safety Evaluation

Contractor Safety Evaluation Contractor Name Address Standard Industry Code (SIC) Telephone Number Fax Number Today's Date Health & Safety Contact Name Specialty Trade (Company) is committed to working

Volunteer Return to Work Volunteer Modified Duty Handbook Workers Compensation Fund toll-free: 1.800.446.2667 web: www.wcfgroup.com Although preventing injuries is the best way to control workers compensation

July 12, 2012. Circular Letter No. 12-1616

Minnesota Workers Compensation Insurers Association, Inc. 7701 France Avenue South Suite 450 Minneapolis, MN 55435-3200 July 12, 2012 ALL ASSOCIATION MEMBERS Circular Letter No. 12-1616 RE: NCCI Item B-1425

COUNTY OF TANEY, MISSOURI

COUNTY OF TANEY, MISSOURI REQUEST FOR BID For WORKERS COMPENSATION INSURANCE Taney County, Missouri RFB# 201202-168 Workers Compensation Insurance Release Date: February 25, 2012 Submittal Deadline: March

NCCI Filing Memorandum Item B-1420

NCCI Filing Memorandum Item B-1420 NATIONAL COUNCIL ON COMPENSATION INSURANCE, INC. (Applies in: AK, AL, AR, AZ, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, ME, MO, MS, MT, NC, NE, NH, NM,

11/15/2010. Money Saving Secrets to Reduce Workers Compensation Costs. New Jersey Medicaid Case Mix Reimbursement and your Facility Insurance

Presented by: Elio Vecchiarelli, CIC Money Saving Secrets to Reduce Workers Compensation Costs www.niagroup.com New Jersey Medicaid Case Mix Reimbursement and your Facility Insurance As of July 1, 2010

SUSAN HARWOOD GRANT OSHA SMALL BUSINESS ASSISTANCE RIT S OSHA OUTREACH CENTER TRAINING OUTLINE AND

SUSAN HARWOOD GRANT OSHA SMALL BUSINESS ASSISTANCE AND RIT S OSHA OUTREACH CENTER TRAINING OUTLINE TOPIC: INTRODUCTION This section overviews the core elements, processes and steps needed to implement

Overview of Tennessee s s Workers Compensation Market Conditions and Environment

Overview of Tennessee s s Workers Compensation Market Conditions and Environment Tennessee Advisory Council on Workers Compensation August 22, 2011 Mike Shinnick,, Workers Compensation Manager Tennessee

6101 - DEPARTMENT OF ADMINISTRATION 21-HEALTH CARE & BENEFITS DIVISION

Program Description The Health Care and Benefits Division provides state employees, retirees, members of the Legislature, judges and judicial branch employees, and their dependents with group benefits