At the 2022 IRMI Construction Risk Conference, the President and CEO of FMI Corporation, Chris Daum, presented the opening session, providing insight into the construction economic outlook, trends that may impact the risks contractors face in their day-to-day operations, and some short- and long-term challenges and opportunities for the industry. Economic Headwinds Currently, we are operating […]

Workers’ compensation began as a system for injured workers in the early 1900s. Since that time we have seen numerous changes within each state system evolving to where we are today; however, the basic construct of workers’ compensation has remained the same. The last several years have ushered in many new practices within the workers’ […]

The last few years have been major challenges for risk managers. Besides COVID-19, risk managers have had to face dramatic changes in business demands, supply chain and economic disruptions, the Great Resignation, court shutdowns, “yo-yoing” workers’ compensation costs, hard insurance markets, work-from-home and return-to-the-workplace issues. Some companies got bigger by growth or acquisition, some went […]

At the 2022 NCCI Annual Insights Symposium, a session discussed how changes to the labor force are impacting workers’ compensation. The speakers were Len Herk and Carolyn Wise from NCCI. Highlights In the latest jobs report, there were over two million less people in the workforce compared to pre-pandemic figures from 2019. Labor shortages have […]

At the 2022 NCCI Annual Insights Symposium, Katherine Williamson from NCCI discussed the impact catastrophes have on workers’ compensation. Understanding Past Events There have been many past events that redefined workers’ compensation risk with the first being the Triangle Shirtwaist Fire in 1911. Workers’ compensation and many workplace safety laws arose after this. In 1947, […]

At the 2022 WCRI Annual Conference, a panel discussed how the pandemic has changed the workplace. The speakers were: Denise Algire – Albertsons Companies Dan Allen – Construction Industry Service Corporation Craig Ross – Liberty Mutual Sebastian Negrusa – WCRI Vaccine Requirements Educational efforts around the vaccine have been successful in many industries, leading to […]

At the 2022 WCRI Annual Conference, Robert Hartwig, Associate Professor of Finance from the University of South Carolina, talked about a variety of issues impacting the economy and workers’ compensation. Inflation Overview and Impact The current drivers of inflation are rooted in pandemic-related supply chain disruption and monetary policy changes made in response to the […]