Top 10 Questions #5
5. Where do you see the most money being wasted in the Workers Compensation system? What part of the Workers Comp system causes employers to pay more $?
That is not necessarily an easy question to answer. I think it is the reserves that are set by the Workers Comp insurance adjuster. The reserves/total incurred is what the E-Mod is calculated from in all cases. The reserving of a file is unregulated. There are no laws or regulations that limit what a Workers Comp adjuster can put up on a file.
There are numerous posts on this page that explain how to counteract the reserving of the files. The first step is to obtain a Loss Run from your Workers Comp carrier. Review the loss runs. What to look for in a Loss Run to reduce your premiums is somewhat complicated.
PS - Do not just call up your Workers Comp adjuster and complain that your reserves are just too high and that you are paying too much premium. Do your homework beforehand. It may not be their fault.
That is not necessarily an easy question to answer. I think it is the reserves that are set by the Workers Comp insurance adjuster. The reserves/total incurred is what the E-Mod is calculated from in all cases. The reserving of a file is unregulated. There are no laws or regulations that limit what a Workers Comp adjuster can put up on a file.
There are numerous posts on this page that explain how to counteract the reserving of the files. The first step is to obtain a Loss Run from your Workers Comp carrier. Review the loss runs. What to look for in a Loss Run to reduce your premiums is somewhat complicated.
PS - Do not just call up your Workers Comp adjuster and complain that your reserves are just too high and that you are paying too much premium. Do your homework beforehand. It may not be their fault.
Labels: The Top 10 Questions That We Receive on Workers Comp - 5
posted by James J Moore at 7:09 PM
