The Death of Workers Compensation - Five Ways To Prepare
I have waited to return to this subject due to another blogger's opinion who claims to be a health and Workers’ Comp expert. I never said that the health bill would result in the disappearance of Workers Comp.
I was compared to a tea leaves reader; a black swan; and even the teller of urban legends. I do not outwardly claim to be a guru on Workers Comp as the song says "If I claim to be a wise man, it surely means that I don't know." (Kansas - Point of Know Return). The expert/guru moniker is up to the reader, not the writer.
I think that I touched a nerve in the Workers Comp community. That is fine as I will now cover how to be prepared if Workers Comp is completely federalized. As I have said often in the past, there are steps that the federal government has taken to federalize a state-run Workers Compensation system (Federal Insurance Office; CMS having a database of all Workers Comp data by January 2011; the Health Insurance bill, etc.) To say that the forest does not exist when the trees are already there could be a mistake.
OK, enough about the past, how does one prepare for the future if their career is centered around Workers Comp?
1. Further your designations and degrees. I know of at least five good friends that started their ARM, CPCU, AIC, etc. but have not finished. This would be a great time if you are reimbursed by your current employer.
2. Your boss is your main customer. I will leave that one alone as it is very obvious.
3. Join a Workers Comp based association and make it to conferences. You can never network too much. A very easy way to network is by joining LinkedIn. One of the groups that I am in can be joined at http://www.linkedin.com/groups?gid=1328307&trk=myg_ugrp_ovr You will have to sign up for free if you are not already a member.
4. Subscribe to and read all Workers Compensation publications. I subscribe to over 20 different ones. Knowing the environment you work in can never hurt.
5. Realize that the Federalization of Workers Comp does not mean that your job will change that much overall. The variables might change, but it is very unlikely that the process will change.
I have more to add to the list next week. As always, if you have any ideas, drop me an email.
I was compared to a tea leaves reader; a black swan; and even the teller of urban legends. I do not outwardly claim to be a guru on Workers Comp as the song says "If I claim to be a wise man, it surely means that I don't know." (Kansas - Point of Know Return). The expert/guru moniker is up to the reader, not the writer.
I think that I touched a nerve in the Workers Comp community. That is fine as I will now cover how to be prepared if Workers Comp is completely federalized. As I have said often in the past, there are steps that the federal government has taken to federalize a state-run Workers Compensation system (Federal Insurance Office; CMS having a database of all Workers Comp data by January 2011; the Health Insurance bill, etc.) To say that the forest does not exist when the trees are already there could be a mistake.
OK, enough about the past, how does one prepare for the future if their career is centered around Workers Comp?
1. Further your designations and degrees. I know of at least five good friends that started their ARM, CPCU, AIC, etc. but have not finished. This would be a great time if you are reimbursed by your current employer.
2. Your boss is your main customer. I will leave that one alone as it is very obvious.
3. Join a Workers Comp based association and make it to conferences. You can never network too much. A very easy way to network is by joining LinkedIn. One of the groups that I am in can be joined at http://www.linkedin.com/groups?gid=1328307&trk=myg_ugrp_ovr You will have to sign up for free if you are not already a member.
4. Subscribe to and read all Workers Compensation publications. I subscribe to over 20 different ones. Knowing the environment you work in can never hurt.
5. Realize that the Federalization of Workers Comp does not mean that your job will change that much overall. The variables might change, but it is very unlikely that the process will change.
I have more to add to the list next week. As always, if you have any ideas, drop me an email.
Labels: Death of Workers Comp
posted by James J Moore at 7:13 PM
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