Donna Eyman: Workers’ Comp Insurance Bureau Recommends Rate Hike

» Allan Ghitterman on 11.15.09 @ 02:03 PM

The increase is not because the injured worker is sharing in it, but because the wages of the administrative executive are falling behind the wall street money handlers.
In fact, unless you are injured you will never know that that an injured worker cannot obtain medical treatment recommended by your treating doctor until a doctor who does not examine you decides that the recommended treatment is acceptable. Of course , that opinion is at least 3 weeks away , and if you are really suffering maybe several weeks and sometimes months away.
Does the industry need an increase in rates? In my opinion, not until they start employing trained adjusters who can assess the need for treatment without going out for a non examining opinion (which increases the cost of medical treatment) and delays that treatment for unreasonable lengths of time.

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» PEOQuote on 11.15.09 @ 04:41 PM

Claims must be managed immediately from the point of injury. Supervising management has to have the ability to make one call to initiate their Claims Management program.

Most employers do not have a program in place and must find a resource for one.

If the employee is hurt, take care of them and move them rapidly back health and working again. If there is doubt in the claim, have your team working for you to investigate to all means necessary.

A multitude of cost with Workers’ Compensation is the lack of a defined response program.

Eric Mowrey

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» Mark A. Dispenza on 11.16.09 @ 04:11 PM

Although it is likely that Steve Poizner will again attempt to hold the line against first of year rate increases, if for no other reason than his run for governor, there is an 800 lb. gorilla in the mix this year. 

The State budget compromise calls for a spinoff sale of State Fund in the amount of $1 billion.  The catch is that the State Fund board of directors is resisting the sale of the Fund’s most profitable assets, making it far less likely that a buyer will be found for the Fund’s extensive portfolio of high risk businesses. 

As medical and other claim costs continue to outstrip revenue, a perfect storm of rate increases and coverage scarcity for high risk businesses such as roofers and other construction classes is on the horizen.  At worst case the result will be a return to the excessively high rates of 6 years ago and many businesses may choose to ignore the law and go without coverage.

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