At the 2019 NCCI Annual Issues Symposium, Jim Guszcza, US Chief Data Scientist with Deloitte Analytics discussed the promise of artificial intelligence and data analytics holds for the workers’ compensation industry. The fearful narrative about artificial intelligence are that computers will eventually become smarter than people and will take over the world. There is also […]

At the 2019 NCCI Annual Issues Symposium, David Priebe, Vice Chairman from Guy Carpenter talked about the upcoming renewal of the TRIA backstop. Prior to 9-11 terrorism risk was included in “all risk” policies. Following those terrorist attacks the insurance marketplace indicated they were uncomfortable with terrorism risks which made securing coverage challenging for some […]

At the 2019 NCCI Annual Issues Symposium, a panel discussed the physicians view of workers’ compensation. The speakers were: David Dietz, MD – moderator Edward Bernacki, MD – Executive Director of Health Solutions, University of Texas Will Gaines Jr, MD – Dept of Occupational and Environmental Medicine, Baylor Scott & White Health Jill Rosenthal, MD […]

At the 2019 NCCI Annual Issues Symposium, Robert Hartwig, Professor of Finance from the University of South Carolina discussed how the economy is impacting workers’ compensation. The highlights: The economy and workers’ compensation are strongly linked. Higher employment leads to higher payrolls which is the basis for premiums. We expect 2.6 million jobs to be […]

At the 2019 NCCI Annual Issues Symposium, NCCI Chief Actuary Kathy Antonello gave the much anticipated “state of the line” presentation. The comparisons provided are all 2017 vs 2018 unless otherwise stated. The highlights: Property & Casualty results There was a 10.6% increase in total industry premiums. The growth was fairly consistent across multiple lines. […]

The 2019 NCCI Annual Issues Symposium was kicked off by NCCI President and CEO Bill Donnell. Behind every workplace injury is a person. In the workers’ compensation industry this is something that we always need to keep in mind in everything we do. Based on surveys of NCCI members, their top concerns for the future […]

At the 2018 NCCI Annual Issues Symposium, Barry Lipton from NCCI and Alex Swedlow from CWCI discussed studies on the impact provider networks have on workers’ compensation. California Data Data reviewed from 1990-2017 332% increase in medical costs per claim during that time period. In 2003, California passed legislation to encourage medical network use. Another […]

At the 2018 NCCI Annual Issues Symposium, Paul Meeusen, from Swiss Re and B3i discussed how blockchain can impact the insurance industry. Blockchain is defined as a digital data structure for identifying and tracking information across a network of computers. Blockchain provides a transparent and secure way to track and distribute the information. In insurance, […]

At the 2018 NCCI Annual Issues Symposium, David Deitz, MD, and Raji Chadarevian from NCCI discussed the use of medical marijuana and opioids in workers’ compensation. The number of claims that included the use of opioid medications in workers’ compensation decreased 12% from 2014 to 2015 and 8% in from 2015 to 2016. Overall, opioid […]

At the 2018 NCCI Annual Issues Symposium, Michael Choo and Scott Goll from Paradigm Outcomes discussed trends in mega losses (defined as claims with total incurred greater than $1 million). The types of claims Paradigm sees are catastrophic injuries, including spinal cord, brain injuries, multiple amputations and severe burns. They receive over 1,000 claims per […]