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workers compensation

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Workers’ Comp Outlook “Stable”

Despite recent weakening in workers’ compensation market fundamentals, this year the workers’ comp market should see a fifth consecutive year of underwriting profits. The industry’s statutory combined ratio fell to 86% in 2018, having averaged 93% annually since 2015, notes a Fitch Ratings report, “U.S. Workers’ Compensation Market Update – Fifth Consecutive Year of Underwriting…

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California Legislative Panel Approves PTSD Coverage for Firefighters, Police

Certain first responders with post-traumatic stress disorder will be able to obtain workers’ compensation benefits, according to a recent report. Current law provides benefits for workers with psychiatric injuries only if the condition causes disability or requires medical treatment, and they must prove work is a substantial cause of the injury. The new legislation, largely…

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AI: For Workers’ Comp, a Promise to Be Fulfilled

The term “artificial intelligence” (AI) is weaving its way into the mainstream of insurance companies of all sizes.  It’s a hot topic:  Consider that at the recent Dig|In event in Austin, Texas, at least half a dozen exhibitors classified themselves as “AI” or “AI/Fraud” companies. For many smaller carriers, however, especially those in workers compensation,…

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iasa virtual roundtable

IASA’s Virtual Roundtable Tests Digital Transformation’s Reality

Because all insurers are using some form of digital technology, we can agree that Digital Transformation is less about the technology itself, but more about the way insurers are innovating to solve their business problems.  That said, digital transformation refers to any use of digital technology that enables new types of innovation to enhance and…

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Overexertion Tops Priciest Workers’ Compensation Claims: Report

Liberty Mutual says that a group of injuries involving lifting, pushing, pulling, holding, carrying or throwing cost employers and payers $13.1 billion. The insurer released its list of workplace injuries and their related costs based on its Workplace Safety Index in which overexertion, as it is presently classified with the injuries above, represents the costliest…

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las vegas cica 2019

CHSI Participates in “Shaping the Future” at CICA

Tucson played host to more than 500 captive insurance representatives, including 100 first-time attendees (captive owners, potential captive owners, captive managers, risk managers, domicile regulators and officials, and service providers) at the CICA 2019 International Conference. In support of the conference’s agenda, which offered educational and networking opportunities, the theme of this year’s domicile-neutral conference,…

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self insured workers compensation executive forum

New Tool to Enhance Claims Outcomes Featured at SIIA Conference

The claims concierge rapid response model will be a featured session at the Workers’ Compensation Executive Forum on May 8, 2019 in Nashville.  Covering methodology and front-line experience, the claims concierge session will share with conference attendees a system designed to enhance employee recovery and prevent adversarial claims.  The annual Forum, an educational and networking…

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Mega-Claims Under Scrutiny

Mega-claims, defined by the National Council on Compensation Insurance (NCCI) as claims for which $10M or more has been paid or is expected to be paid, are an area of concern to workers’ compensation insurers of all sizes. NCCI reports that in the United States there was an uptick in the number of mega claims…

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business accounting

How Businesses Can Prevent Workers’ Compensation Audits and Mistakes

This article was written by Gerry Dumke, Vice President of Underwriting at Caitlin-Morgan Insurance Services, a provider of insurance and risk management services for assisted living facilities and nursing homes. Reprinted here with permission. Workers’ compensation insurance is a critical part of the business world. This specialized insurance is designed to protect business assets as well as…

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Friedlander Group Chooses CHSI Connections® for Claims Management

The company will use Connections’ modular suite of cloud-based core systems software to provide value via claims processing efficiencies. Henderson, NV—January 18, 2019 – CHSI Technologies, Inc., a provider of enterprise-class insurance software, is pleased to announce that Friedlander Group Inc., the manager of pooled risk safety groups and the leader in workers’ compensation for…

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