Workers’ compensation is essentially a collection of interrelated actions taken by the employer, payer, provider and injured worker in the service of the injured worker’s recovery and return to work. Putting the injured worker at the center of this activity …
Earlier this year, Fitch Ratings reported that the commercial auto insurance market suffered its fifth consecutive year of underwriting losses in 2015. The commercial auto combined ratio averaged 106 percent from 2011-2015, Fitch reported. According to James Auden, managing director …
Months after two severe storms flooded basements on Detroit’s east side, the Michigan city’s water department has decided to pay the claims of all residents who aren’t suing it. Hundreds of homes were damaged during the July 8 storm, which …
A new survey shows an 8.7 percent reduction in worker’s compensation payers’ drug spend, according to CompPharma’s 13th Annual Survey of Prescription Drug Management in Workers’ Compensation. The survey analyzed the 2015 pharmacy cost data of 30 workers’ compensation insurance …
Only four insurance claims worth $24,232 have been paid of 274 damage claims filed after Oklahoma was hit with its largest earthquake in September. The magnitude 5.8 quake damaged buildings and slightly injured one man. The Oklahoman reports of more …
New Mexico employers could see a decrease in their insurance costs for on-the-job injuries and deaths. The state Office of Superintendent of Insurance says a key factor in calculating individual employers’ workers’ compensation costs will drop by an average of …
In the last two years, private-passenger loss costs have risen sharply the result of more and costlier claims, according to a new white paper released by the Insurance Information Institute (I.I.I.). “There has been an alarming increase in crashes and …
The average cyber breach claim for a large company was almost $6 million, according to the findings released by NetDiligence in its latest study on cyber claim costs. The sixth annual study of cyber claim payouts by the cyber risk …
The century old state workers’ compensation system is outdated, according to the U.S. Department of Labor. The system needs to be reset and reshaped to address the needs of today’s employees, according to David Michaels, the assistant secretary of labor …
Prior to leading a panel discussion on the Canterbury earthquake at the International Association of Claim Professionals’ annual conference, the experts sat down with Claims Journal to discuss the earthquake and shared personal stories and lessons resulting from the event. …