The Workers’ Compensation Almanac is prepared by Applied Underwriters® each year. This ninth volume is a compendium of workers’ compensation topics, trends and other information to help keep you informed year-round. Read up on the latest news about extreme weather and how the [...]
Extreme weather has gotten a lot of coverage the past year due to the increase in both the events and the resulting damage and loss. This year, we partnered with Independent Agent to conduct a survey on their website for the month of [...]
The National Oceanic and Atmosphere Administration (NOAA) and the National Centers for Environmental Information (NCEI) reported that in 2021, the U.S. experienced 20 separate billion-dollar weather and climate disasters, coming in second to 2020 in terms of number of disasters (20 versus [...]
A Visual Representation by State (as of 9/1/2021)
If you have spent any time working in the insurance industry, you know that each state has its own regulatory quirks. However, when it comes to the distribution of both premium volume and risk count by X-mod, there are some definite similarities. [...]
Business shutdowns, labor shortages and vaccine mandates dominated business headlines during the COVID-19 pandemic, but other, less attention-grabbing consequences had effects on the workers’ compensation industry. Here are three pandemic-related outcomes that already have or possibly could impact our industry.DISRUPTION OF THE DRUG [...]
Range of Modification (Credit to Debit) (as of 11/1/2021) Annual manual premium must be at least the applicable state minimum eligibility amount. The applicable minimum eligibility amount is the value in effect as of the policy’s effective date. Refer to NCCI’s Experience Rating [...]
Distribution of Risk Counts by Premium Range (as of 9/7/2021)
There are three types of workers’ compensation fraud: employer, employee and healthcare vendor fraud. While employee fraud is the most publicized, it is estimated to represent only about 20% of annual workers’ compensation fraud, while employer and healthcare fraud costs impact the system [...]