workers comp
October 16, 2023
NCCI Deconstructs Trends Around High-Cost Workers’ Comp Claims
There’s widespread interest in large claim trends for compelling reasons — they can be devastating for the injured worker and can have significant implications for carrier operations. Workplace injuries that result in large claims — e.g., exceeding $1 million in claim costs — form a small share of all lost-time claims, less than 0.5%. But they...
October 5, 2023
Upcoming NCCI Experience Modification Changes for 2024
The National Council on Compensation Insurance (NCCI) is making alterations to its experience modification factor for 2024. These changes are slated to go into effect on each state’s regular filing date on or after Nov. 1, 2023. This Work Comp Insights will provide an overview of the NCCI’s changes. Overview of Changes The NCCI governs...
September 25, 2023
Workplace Accidents Can Be Costly
We all know that safety is essential in construction, but do you realize just how costly a job site injury can be? According to the National Safety Council, the average cost per workplace injury is $1,300. It may not seem like all that much, but the extra expense to pay for injuries has a powerfully...
August 18, 2023
OSHA’s New National Emphasis Program Aimed at Preventing Warehouse Injury and Heat Hazards and Its Possible Implications on California
On July 13, 2023, the Department of Labor’s Occupational Safety and Health Administration (“OSHA”) announced the launch of a three-year National Emphasis Program meant to prevent workplace hazards in warehouses, processing facilities, distribution centers, and high-risk retail establishments. OSHA’s announcement explains that warehousing and distribution centers have experienced tremendous growth over the past 10 years, with over 1.9 million...
August 16, 2023
The Tech that Could Shape the Future of Workplace Safety
While artificial intelligence, wearable tech and exoskeletons are not yet commonplace at every worksite, it is a very real possibility that these technologies, and a host of other emerging ones, will play critical roles in the future of work safety and workers’ compensation. To find out what technologies are making a difference, or showing the potential to...
August 15, 2023
What is an Experience Modification Factor?
The experience modification factor (EMF) plays a significant role in the cost of workers’ compensation insurance premiums. Also known as the e-mod, this figure represents an employer’s workers’ compensation claims history compared to other businesses of a similar size in the same industry. It is determined based on a formula set by the National Council...
August 2, 2023
Workers’ Compensation State of Risk
Workers’ compensation provides essential coverage, and in many instances, laws require employers to carry it. Additionally, workers’ compensation has been the most profitable property and casualty (P&C) line of business in recent years. The National Council on Compensation Insurance (NCCI) reports six straight years of combined ratios under 90 and nine consecutive years of underwriting...
July 17, 2023
OSHA Launches New National Emphasis Program for Warehouse and Distribution Center Hazards
On July 13, 2023, OSHA launched a National Emphasis Program (NEP) to prevent workplace hazards in warehousing and distribution center operations, mail/postal processing and distribution centers, parcel delivery/courier services and certain high-injury-rate retail establishments. The NEP is expected to expire in July 2026. NEP Overview Under this three-year NEP, OSHA will conduct comprehensive safety inspections...
July 10, 2023
2023 Workers’ Compensation Insurance Midyear Market Outlook
Data from the National Council on Compensation Insurance (NCCI) shows that the workers’ compensation insurance market has performed as an outlier in the casualty space by producing positive underwriting results for nearly a decade, with the combined ratio remaining under 100 every year since 2014. This past year was no different; the combined ratio for...
July 6, 2023
Understanding the Experience Modification Factor
Workers’ compensation insurance is a crucial component of protecting employees in the event of work-related injuries or illnesses. It provides medical benefits, wage replacement, and other necessary resources to injured workers while also safeguarding employers from costly lawsuits. One important aspect that plays a significant role in determining the cost of workers’ compensation insurance is...