Recently (click to see May 3, 2010 Blog Entry), up to 5 self insured groups managed by CRM holdings have closed and or failed in California. One recent failure is the CAPSIG Self-insured group which CRM managed. With a claims shortfall of $20,000,000 and growing, the 200 members of the CAPSIG
It is my experience that companies that truly (or at least give the appearance of) caring for injured workers will significantly reduce their claims costs and avoid unnecessary litigation. The term "Culture of Caring" should be applied when companies are putting together their injury management plans. A large portion of
The average cost of an indemnity claim is now over $60,000! Why? There are many factors as to why costs are increasing so much. These are but a few: Increased medical costs More medical procedures being requested Early Return to Work is not as available, due to economic times Litigation One of the biggest factors
There has been a huge upturn in the number of litigated claims over the past 2 years in California Workers' Compensation. Now approximately 40-50% of claims are becoming litigated and virtually 100% of claims older than 2 years are in litigation. When I was told this, my initial question was: Why?
On August 10, 2010, the Office of Administrative Law approved several changes that affect California employers effective October 8, 2010: Updated Posting Notices (DWC-7) must be used. Notification of Rights Materials Regarding the insurance carrier MPN must be posted. MPN Implementation Notices are revised, as are options on how to distribute. New Hire Pamphlets,
At Van Beurden Insurance Services, Inc., we like to think we have been able to combine the best of both worlds: the resources of a large company with the commitment and family tradition of a smaller firm. Our philosophy is that happy, experienced, and dedicated employees provide optimum
For years, business owners have complained about the same things regarding Workers' Compensation Insurance: Large Deposits High Rates Policy Audits Difficult Payment Plans Aren't these the things that bother you the most about Work Comp? These can be especially bothersome for smaller businesses, who never seem to see the same aggressive offers from Insurance Companies. These
The Workers' Compensation Insurance Rating Bureau of California (WCIRB) issued a statistical report on August 26, 2010 that shows the average cost of an indemnity claim reached $60,253 in 2009 -- of which $19,682 was spent on indemnity and $40,571 was spent on medical costs. In comparison, the 2005 average cost
Hit the link to see a recent column by Fresno Bee writer Dan Walters. I think if you read my previous blog and then read this article, it will clearly illustrate the situation that the Work Comp system is in here in California. Political pandering has muddled the real market
Introducing a brilliant three-step Workers' Comp premium payment strategy that can save you money: Van Beurden Insurance is currently placing Workers' Compensation accounts in The Hartford XactPay® system. It's the fastest growing payment format in the industry. More than 60% of all employers currently use some form of "instant" pay