Everybody needs workers’ compensation coverage and to some that translates to a commoditization of the product line. But to be successful at selling workers’ comp, producers have to change the way they sell the product, says one industry executive. The …
Workers’ compensation insurers and the state regulator have agreed upon a 16.9 percent average decrease in workers’ compensation rates in Massachusetts starting Sept. 1, 2007. The industry’s Workers’ Compensation Rating and Inspection Bureau of Massachusetts (WCRIB) had submitted a bid …
The Colorado House Business Affairs and Labor Committee has approved two workers’ compensation bills: one affecting employee’s choice of physician and another affecting firefighters. House Bill 1176 would change the workers’ comp system to allow an injured employee to choose …
In workers’ compensation cases, management of injured workers by a specialized network of health care providers — without third-party utilization review — can reduce missed work days and lower health care costs, reports a study in the September Journal of …
Since workers’ compensation reforms were implemented in California in 2002, labor, government and insurers agree that the market has become more competitive and costs have decreased. “There’s more competition, more choice, and the marketplace doesn’t have the monopolistic look it …
Reduced rates and renewed competition in Calif. California workers’ compensation insurance rates are taking a turn for the better. Thanks to reform legislation, employers should have more access to reasonable rates. In fact, rates are roughly equivalent to 1995 rates, …
Claiming the current system in hurting the state’s economic competitiveness, Gov. George E. Pataki has proposed a plan to reform New York’s workers’ compensation system. Pataki said his plan would reduce costs for businesses by more than 15 percent, or …
California Insurance Commissioner John Garamendi has recommended a 15.3 percent decrease in the state’s workers’ compensation pure premium rates by winter. In announcing the move, the Commis-sioner also criticized insurers for not passing along savings more quickly to employers. He …
The broad reforms in California’s workers’ compensation system serve as an example for the nation, as employers and insurers in the state are getting sizeable financial relief from runaway workers’ compensation medical costs. Workers’ compensation claims and disability costs have …
