NCCI President and CEO, Steve Klingel, kicked off the 2015 NCCI Annual Issues Symposium with an opening session that focused on the top-line industry indicators and emerging issues that will capture the attention of workers’ compensation professionals in the months and years ahead. Top-of-the-line numbers: Net written premium for 2014 $44.2 billion, a 6% increase from prior year and fourth consecutive year of premium growth. NCCI projects 2014 industry combined ratio at 98%. The last time the combined ratio was under 100% was 2006. Claim frequency once again declined in 2014. Looking at the economy, increased employment has led to
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At the 2015 NCCI Annual Issues Symposium, a panel of speakers covered a variety of issues facing the workers’ compensation industry.  Mona Carter, senior division executive – national policy development for NCCI moderated the workshop.  The speakers were Thomas Sullivan, associate director with the Federal Reserve; Ann Bok, practice leader and senior actuary with NCCI; and Lori Lovgren, division executive – state relations with NCCI. Federal Reserve Tom Sullivan spoke to the regulatory role of the Federal Reserve in insurance issues compared to the role of the states. He emphasized that the states remain the main regulatory entity and they
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Although Self-Insured Work Comp Groups (SIGs) have plenty of competition from traditional carriers, the real competition for larger “best-in-class” accounts are group captives. With minimum casualty premiums of only $150,000 for workers’ compensation, general liability and auto, group captives are having record growth that is impacting both SIGs and traditional carriers. A panel at the 2015 SIIA Workers’ Compensation Executive Forum debated the merits of group self-insurance versus group captives.  The panelists were:  Freda Bacon, Fund Administrator, Alabama Self-Insured Workers’ Compensation Fund Duke Niedringhaus, Senior Vice President, J.W. Terrill, Inc. Group Captives Versus Group Self-Insurance Group Captives: One of the biggest differences between these two
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Significant understanding of the behavioral neuroscience of pain has developed over the past 20 years and has helped evolve dynamic evaluation and treatment models that work successfully in the workers’ compensation system. These models show positive results, not only in advanced claims with chronic pain and opioid dependence/addiction, but in early proactive claims intervention to create pathways to better outcomes. This was the subject of a presentation at the 2015 SIIA Workers’ Compensation Executive Forum. The speakers were: Michael Coupland, CPsych, RPsych, CRC CEO, Network Medical Director Integrated Medical Case Solutions (IMCS Group) Becky Curtis Pain Management Coach Founder, Take
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At the 2015 SIIA Workers’ Compensation Executive Forum, representatives from leading workers’ compensation excess insurance carriers discussed market conditions and what workers’ compensation self-insurers should expect in the year ahead with regard to policy pricing and availability. The panel consisted of: Richard Bird, Chief Operating Officer from Midlands Management Corporation; Scott Keller, Senior Vice President from Arch Insurance Company; and Seth Smith, Senior Vice President Workers’ Compensation Underwriting from Safety National. Duke Neidringhaus, Senior Vice President with J.W Terrill, Inc., moderated the panel. Question: What do you see as the current state of the excess workers’ compensation marketplace? Answers: There is
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Consider the implications to your organization of possible changes in access to care, consolidation of providers and facilities and the use of accountable care organizations. All this is rapidly becoming a reality under the changes to our healthcare system brought on by the Affordable Care Act (ACA). How will this impact your business? What steps can you take to ensure your injured workers have access to the best care? What issues are on the horizon?  This was the subject of a 2015 SIIA Workers Compensation Executive Forum session presented by  Kimberly George, Senior Vice President, Senior Healthcare Advisor with Sedgwick. Putting politics
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Leading Self-Insured Groups (SIGs) are finally embracing “BIG DATA” trends and initiatives are underway to focus the power of machine learning on the claims and underwriting operations of SIGs. Advanced analytics and predictive modeling are helping SIGs improve loss ratios, enhance dividends and improve their market position. This was the subject of a 2015 SIIA Workers’ Compensation Executive Forum session. The speakers for this session were: Freda Bacon, Fund Administrator, Alabama Self Insured Workers’ Compensation Fund Steven J. Link, Executive Vice President, Midwest Employers Casualty Company Stan Smith, Predictive Analytics Consultant, Milliman, Inc. Stu Thompson, CEO, The Builders Group. Underwriting
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On May 14-15, Conference Chronicles will be blogging from one of the biggest industy events of the year.  The NCCI Annual Issues Symposium. In addition to providing extensive research about the state of the workers’ compensation marketplace, the NCCI conference is the leading networking event for workers’ compensation carriers and their reinsurers.   For more information abou the event, please see the link: https://www.ncci.com/nccimain/Events/NCCIEvents/Pages/AIS2015-Registration.aspx

On May 12-13, 2015, Conference Chronicles will be reporting from sessions at SIIA’s Annual Self-Insured Workers’ Compensation Executive Forum.  This is the country’s premier association sponsored conference dedicated exclusively to self-insured Workers’ Compensation.  For more information on the event please click the link below: https://www.siia.org/i4a/pages/index.cfm?pageid=6827

Legalized marijuana is a key employment and risk management issue. Debate continues to heat up on this issue as more states move toward legalization. This RIMS 2015 session provided updates on the process as it relates to the workplace. Speakers included: Markie Davis, Risk Manager, State of Colorado Kevin Glennon, Vice President – Home Health & Complex Care, One Call Care Management With marijuana, the THC component gives you the high, but there are other properties of the plant that can have good medicinal properties when the THC component is removed. There are few studies available because it is still
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