Tag: workers compensation

Illinois workers compensation moves through state Senate

Marc
Illinois workers compensation - Construction Site - Construction Workers

Senators have given the nod to new restrictions on insurance companies writing this type of policy. New Illinois workers compensation legislation has received approval in the state Senate. It applies new restrictions to insurance companies that write workers compensation policies. The insurance legislation passed the state Senate this week in a vote of 34 to 21. This Illinois workers compensation legislation is a mirror image of one that was approved by lawmakers in the state last year. However, when that proposal reached Governor Bruce Rauner’s desk, he vetoed it. This…

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Berkshire-owned workers compensation insurance scam case reaches settlement

G. Turner
workers compensation insurance

Applied Underwriters, a Berkshire Hathaway owned firm, was ordered to cease bait-and-switch marketing. Applied Underwriters, an insurer owned by Warren Buffett’s Berkshire Hathaway, has agreed to a workers compensation insurance case settlement. The agreement involves providing Californian consumers with full disclosure about the product. The insurance company’s goal is to start selling plans again following a state review of alleged abuses. A major component of the settlement requires Applied Underwriters “to stop the bait-and-switch marketing tactics.” Many employers registered complaints from having been sold workers compensation insurance through bait-and-switch tactics.…

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Workers compensation scam in California leads to 26 arrests

G. Turner
workers compensation scam insurance fraud

Among those who were arrested were three doctors in the Orange County area. A massive number of arrests have resulted from a California workers compensation scam that was recently busted. Among the arrested individuals were three doctors. Two of the doctors were from Newport Coast and another doctor was from Huntington Beach. In total, there were 26 arrests including business owners and medical professionals. The workers compensation scam is estimated to have swindled insurance companies and consumers out of $40 million in kickbacks and fraudulent insurance billing. This, according to…

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North Carolina officials target employers without workers compensation

Julie Campbell
workers compensation insurance

The Industrial Commission has already fined and charged companies operating without proper insurance. In North Carolina, the Industrial Commission, the authority responsible for the enforcement of laws regarding workers compensation, has now started to target employers that have not been carrying adequate insurance in order to comply with the state’s laws. As a result of the crackdown that has been occurring over the last year, $1 million in civil fines have been collected. These civil fines were collected from companies without adequate (or any) workers compensation coverage. Moreover, beyond fining…

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Wearable technology may change the nature of workers compensation claims

Julie Campbell
workers compensation safety month

New breakthroughs in wearables could potentially revolutionize the healthcare industry. Recent advancements in wearable technology are changing the nature of healthcare, especially when it comes to boosting the independence and overall wellbeing of patients who are suffering from serious injuries, which could have some interesting implications for workers compensation claims. The idea is that by using wearables, the insurance industry could greatly benefit in overall claims costs. The workers compensation industry could be able to save a considerable amount on its claims while it greatly improves the quality of life…

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Workers compensation could be headed along a bumpy road

Julie Campbell
workers compensation insurance

Many industry experts are now expecting that there could be some turbulence in the future of this coverage. Even though financial indicators have been suggesting improvements, the president and CEO of the National Council on Compensation Insurance Inc. (NCCI) has stated that the workers compensation industry should be getting ready for some “difficult times” as the workplace and workforce ecosystem undergoes a considerable evolution. President and CEO of the NCCI, Steve Klingel, recently spoke at the 2015 Issues Symposium. The NCCI is a workers compensation ratings and research organization. At…

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Pennsylvania workers compensation rates to be reduced

H. Cutner
workers compensation insurance

The state will be slashing back these insurance rates by 5.99 percent, beginning with the start of April. Pennsylvania has announced that it will be reducing its rates for workers compensation by 5.99 percent, and that this new level will become effective as of April 1, in a decision that is hoped to provide businesses with a considerable savings. In fact, the Wolf administration has said that the savings to businesses has been estimated at $140 million. The governor of Pennsylvania, Tom Wolf, explained that “These rate reductions will go…

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