Workers Compensation

CFO.com Insurance Rate Outlook: From Flat to Soaring

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October 15th, 2012

Great explanation from CFO.com about rates increasing for 2013 renewals and why now,  more than ever, it’s important to have your “house” in order. CFO.com recent article: Insurance Rate Outlook: From Flat to Soaring describes the current concerns CFOs have regarding their insurance premiums and the tightening restrictions from insurance carriers. Related Articles: 3 Ways to Improve» Read Full Article

How to Keep Your Flat Work Comp Dividend

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October 11th, 2012

Don’t be surprised if your renewal comes through with a significantly reduced dividend or none at all. The insurance market is changing. The soft market and other external financial factors warranted workers compensation carriers to offer large flat dividends to their commercial insureds. Those days are numbered. (See CFO.com September 18, 2012: Insurance Rate Outlook: From» Read Full Article

3 Ways to Improve Your Chances of Earning a Workers Compensation Dividend

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October 11th, 2012

A lot of business owners concentrate on the dividend portion of a workers compensation insurance policy. Rightly so, it’s a significant refund and can be critical to the bottom line of any business.  What business owners and CFO’s don’t often realize, though is that if you manage your experience MOD first, the dividends will follow. If» Read Full Article

Obese Workers Have 50% More Work Comp Claims

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October 8th, 2012

The State of Wisconsin estimates it could save $12 billion dollars if residents “slim down”. With National Health Expenditures continuing to rise, employers profits are being consumed by healthcare costs.  Some estimates are as high as 58% after taxes!  Today, nearly half of all workers compensation claims include loss time or disability rating. In particular,» Read Full Article

New Split-Point change! Can we project your 2013 experience modification?

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October 5th, 2012

Absolutely!  We will say that with CAUTION.  The State of Wisconsin has a rate change date of 10/1/13.  Our in-house Smart Comp program projects and verifies mods on a routine basis.  CAUTION:  With this 10/1/13 rate change, comes changes in the “D” ratio.  The “D” ratio is a factor used to determine the amount of expected losses» Read Full Article

Workers Compensation Rate Changes Effective October 1, 2012

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August 1st, 2012

The State of Wisconsin, Office of the Commissioner of Insurance has approved an overall decrease in Workers Compensation rates of 1.36%.  Rates are effective as of October 1, 2012 and apply to new and renewal business only. New maximum cap per claim is now $186,500! (previously $171,000)  Rate Level Change By Industry Group Level Change: Manufacturing» Read Full Article

Beat the Heat: Tips for Employers to Reduce Heat-Related Illnesses

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July 23rd, 2012

As summer heats up, so does the risk of heat-related illnesses.  It is critical to allow the body to gradually adjust to higher temperatures.  Excessive exposure to a hot environment can bring about a variety of heat-related health problems and illnesses.  With the increase in heat-related health problems, so too increases the frequency of accidents.» Read Full Article

Obesity Linked to Higher Workers Compensation Claims

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July 6th, 2012

A study recently conducted by the National Council on Compensation Insurance (NCCI) provides further proof of the emerging costs related to obesity in the workplace. Not only does it impact health insurance costs, but obesity has also been linked to higher workers compensation claims. The article provides further proof that proactive wellness programs in the» Read Full Article

Part Time Help, Full Time Workers Compensation Headache

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June 7th, 2012

Summer is upon us, and with that will come the opportunities for part time summer jobs. Seasonal businesses expand, and potential employees return home from college for the summer – these are great opportunities for all parties involved. Wisconsin employers of part time summer help should be aware that there are some potential pitfalls that come with» Read Full Article

MOD Verification Process Finds Errors in Releases

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March 17th, 2012

Clients often ask if they should be concerned when their MOD is released from the bureau. Very often we find mistakes in the released MOD and can save clients thousands of dollars by verifying their MOD. Nancy McMurry, Resource Center Director, explains some of the things we look for in this verification process… Wisconsin businesses interested in» Read Full Article