Comments for The WorkCompEdge Blog

Comment on New booklet about the workers comp mod. A (free) must-have for every business owner. by Workers compensation news and software support on your mobile device « The WorkCompEdge Blog

Wed, 11 Aug 2010 18:58:18 +0000

[...] So, you’ve watched our workers comp insurance training video, you’ve downloaded our new free booklet that explains experience mod analysis, and now you’re wondering: “What other marvelous free resources do those smart, [...]

Comment on What is a Risk Bearing Entity, and When Should My Company or Client Consider One? by Risk Management, Estate Planning Meet in 831b Captive « The WorkCompEdge Blog

Tue, 29 Jun 2010 15:02:31 +0000

[...] Risk Solutions. Our discussion was unexpectedly a perfect follow-up to Lloyd Kelley’s recent blog What is a Risk Bearing Entity, and When Should My Company or Client Consider One?, so I thought I’d share with you what I learned from [...]

Comment on Workers Compensation Medical-Only Losses: A Refresher for All, an Update for New Mexico and Colorado by Michael J Glapion, ARM

Michael J Glapion, ARM — Tue, 01 Jun 2010 21:14:05 +0000

This whole subject may become a moot point once the Medicare Secondary Payers Act of 2007 becomes effective and all applicable rules for reporting all Medicare Beneficiary payments to the Center for Medicare and Medicaid Services (CMS). Employers will have to be very careful when paying their Medical Only claims especially should they exceed $600 (what I have been told is the threshold) and the Employer becomes a Responsible Reporting Entity and required to report all future payments, medical and indemnity, to CMS.

Is the risk of becoming a RRE under MSPA worht the few points saved on your Emod? Every employer will have to answer that question for him/herself, but will certainly require some guidance for a knowledgable agent..

Comment on Small Medical-Only Claims – To Pay or Not to Pay? by Workers Compensation Medical-Only Losses: A Refresher for All, an Update for New Mexico and Colorado « The WorkCompEdge Blog

Tue, 01 Jun 2010 19:00:50 +0000

[...] WorkCompEdge Blog: Small Medical-Only Claims: To Pay or Not to Pay? [...]

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Jordan

Jordan — Thu, 22 Apr 2010 16:44:12 +0000

I would go with the original screen for this insurance agency system.

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Mark Bizer

Mark Bizer — Thu, 22 Apr 2010 01:28:12 +0000

I like the original screen but that’s probably because its what I’m used to. The key is just knowing how to switch between the two so you can choose the one that best fits your input style.

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Wed, 21 Apr 2010 19:22:54 +0000

Absolutely we won’t be taking any options away – at the most, just changing which view of the Large Loss screen you see when you first open a new or existing mod file. We’ll be keeping the survey open for a while, but it’s clear that all views have their fans – and we will definitely keep that in mind! – Kory

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Laurie Weinhammer

Laurie Weinhammer — Wed, 21 Apr 2010 18:18:38 +0000

I agree with Jeff on this. Depending on the account, I use the loss identifiier field to enter either the claimants name or department the claimant works in depending on how I want reports to summarize for a particular client. Although I like the look of the spreadsheet, I would not want to lose this option.

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Wed, 21 Apr 2010 15:36:05 +0000

Harold, Kim, Jeff, and May – My apologies that we didn’t give you the option to vote on the short spreadsheet view! Honestly, my expectation was that it’s functionally so similar to the large spreadsheet view that there’s really little difference. But your points are well-taken, so we won’t overlook this as we decide what changes, if any, to make. Thanks so much for your feedback! – Kory

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by May Toney

May Toney — Tue, 20 Apr 2010 15:50:30 +0000

I prefer the short spreadsheet view for easier input and to locate data; switching to default view to add optional info.

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Jeff Sullivan

Jeff Sullivan — Tue, 20 Apr 2010 13:55:33 +0000

I could not use the Short Spreadsheet view. I put the claimants name in the Loss Identifier box so the reports show claims by number and claimant names which really helps my insureds to read the reports. the Short Spreadsheet doesnt include that box and the larger ones cut off the names…

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Kim Hayward

Kim Hayward — Mon, 19 Apr 2010 13:43:00 +0000

I agree. I prefer the short spreadsheet view.

Comment on Which Large Loss Screen in ModMaster Do You Prefer? by Harold Moore

Harold Moore — Fri, 16 Apr 2010 20:36:20 +0000

I prefer the short spreadsheet view. It has the info that I input on 99% of the accounts I do. Rarely use the injury type or body part.

Comment on Flying into the Future: A Visit with Young Agent Jason Cass by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Wed, 07 Apr 2010 21:06:42 +0000

Terence & Thomas – Thanks for the comments. Thomas, I agree… the young agents who are bringing new ideas and energy with them should be highlighted and encouraged. We have an interesting decade ahead of us and I think it will turn out well. — Tim Coomer

Comment on Flying into the Future: A Visit with Young Agent Jason Cass by Thomas Meredith

Thomas Meredith — Wed, 07 Apr 2010 18:23:22 +0000

Great post Tim. We were just writing about this issue in a recent blog post – Let’s Change the Reputation of the Insurance Industry (http://www.superioraccess.com/blog/post/Lets-Change-the-Reputation-of-the-Insurance-Industry.aspx). It’s great to read about good, young insurance agents. We all know they are out there, sometimes they just need a little promotion.

Comment on Flying into the Future: A Visit with Young Agent Jason Cass by Terence Milford

Terence Milford — Wed, 07 Apr 2010 16:54:43 +0000

Tim, Great column and great info! thanks! tm

Comment on A 2009 Collateral Perspective by Collateral Survey Confirms Increased Cost, Credit Difficulties in 2009 « The WorkCompEdge Blog

Thu, 25 Mar 2010 20:10:11 +0000

[...] financial crisis of 2009. Prior to the survey, we reported on these trends in our blog article “A 2009 Collateral Perspective.” 41% of respondents reported either no collateral agreement or no negotiation of the agreement. [...]

Comment on Comparing Two Workers Compensation Experience Mods by Reasons 1 and 2: Why Mods Increase and What You Can Do About It « The WorkCompEdge Blog

Thu, 11 Feb 2010 14:50:30 +0000

[...] new mod comparison report provides a lot of good information to investigate a mod increase. The average expected loss ratio [...]

Comment on How Will the 1/1/2010 California Workers Compensation Split Formula Change Impact the Mod? by Michael Stump

Michael Stump — Wed, 10 Feb 2010 19:09:06 +0000

The 2010 experience modification clearly had a negative impact on some employers. Is there any organized method for employers to complain about the change in the rating plan?

Comment on A 2009 Collateral Perspective by Kory Wells

Kory Wells — Wed, 03 Feb 2010 16:30:46 +0000

Michelle will be following up on this article with a summary from the collateral survey later in February 2010.

Comment on Have You Worked 10,000 Hours Toward Your Goal? by Tim Coomer

Tim Coomer — Tue, 19 Jan 2010 14:43:09 +0000

Thanks Greg!

Comment on Have You Worked 10,000 Hours Toward Your Goal? by G. Tate

G. Tate — Mon, 18 Jan 2010 22:12:13 +0000

Great article Tim. I too, believe; talent is hype. Individuals must invest in self improvement and cosistent forward progression. Good stuff, keep it flowing!!

Comment on Have You Worked 10,000 Hours Toward Your Goal? by Tim Coomer

Tim Coomer — Mon, 18 Jan 2010 18:57:25 +0000

Ryan, thank you for the kind comment. We are so very excited about all that we are doing this year. I look forward to rolling out some great resources and blogging about them as the year unfolds.

Tim Coomer

Comment on Have You Worked 10,000 Hours Toward Your Goal? by Ryan Yoch

Ryan Yoch — Mon, 18 Jan 2010 17:14:03 +0000

Tim,

Excellent post!

You all have built an outstanding company and I wish you much success in 2010.

Have a great week.

Ryan

Comment on How Will New NCCI Ratemaking Rules Affect Workers Comp Mods? by Cindy

Cindy — Mon, 18 Jan 2010 15:17:06 +0000

I wanted to say that it’s nice to know that someone else also mentioned this as I had trouble finding the same info elsewhere. This was the first place that told me the answer. Thanks.

Comment on Actuarial Booklet for “the Rest of Us” Now Available for Free Download by roy

roy — Mon, 18 Jan 2010 04:24:22 +0000

Hey thank you for the free download it was really great!!

Comment on Comparing Two Workers Compensation Experience Mods by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Thu, 05 Nov 2009 15:26:35 +0000

Wow, Hope, and we thought we were doing good to compare 2 mods. Seriously, we’re always interested to know what our clients are doing and what there challenges are. Are you trying to graph ONLY summary information, like the overall mod value and total estimated premiums, and possibly other total values? If so, we may be able to help you. I’ll email you for more details!

Comment on Comparing Two Workers Compensation Experience Mods by Hope Kjeseth

Hope Kjeseth — Tue, 03 Nov 2009 15:20:55 +0000

I would like to see this report have the ability to compare more then two mod files at a time. I’m currently trying to figure out how to graph 5 years of mods and premiums in Excel……not going well. I figured since all of this information is in ModMaster it would be great to see it do this for me. Let me know if this is possible!

Hope Kjeseth
COMPTROL a division of Kraus-Anderson Construction

Comment on Comparing Two Workers Compensation Experience Mods by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Thu, 22 Oct 2009 20:25:05 +0000

Thanks to all of you for your comments! Payroll is clearly a desirable addition, so we’ll get right on that. I don’t *think* it will be too hard to add, so I’m optimistic we can get that in an update before the end of the year. – Kory

Comment on Comparing Two Workers Compensation Experience Mods by Keith Nelson

Keith Nelson — Thu, 22 Oct 2009 14:16:54 +0000

I like having another format to explain the changes. The graphs work great, but some individuals relate to numerical comparisons better.
I hope you decide to include the payroll numbers also. It will help explain the effects of changes in headcount and classifications.

Comment on Comparing Two Workers Compensation Experience Mods by John Moredock

John Moredock — Thu, 22 Oct 2009 14:10:32 +0000

I agree, Payroll Totals would be a beneficial addition ot this report.

Comment on Comparing Two Workers Compensation Experience Mods by Susan Sparks

Susan Sparks — Wed, 21 Oct 2009 21:28:07 +0000

very excited about this report. Make my job easier and future training will be better for our staff

Comment on Comparing Two Workers Compensation Experience Mods by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Wed, 21 Oct 2009 20:53:57 +0000

Glad to hear you and your producer are happy with the new report, Margaret. We have occasionally helped our users unravel the mysteries of a mod that changed from year to year, so I definitely know your pain of doing it the hard way! – Kory

Comment on Comparing Two Workers Compensation Experience Mods by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Wed, 21 Oct 2009 20:51:12 +0000

We’re glad to hear that you’ve already been using the Mod Comparison report, Mike – and that you noticed the True Cost of Loss by Policy Period report, too. I’ll be talking about it in a future article! – Kory

Comment on Comparing Two Workers Compensation Experience Mods by Margaret Gloudeman

Margaret Gloudeman — Wed, 21 Oct 2009 20:19:21 +0000

One day my producer asked me to do a comparison on why a client’s mod had changed. I used excel to complete the task. Then I went to my emails and found update 9.08 in my inbox, along with the note about the mod comparison report!!!!!

This is a great time saver! And my producer loves it!

Thank you for creating this report.

Comment on Comparing Two Workers Compensation Experience Mods by Michael Glapion

Michael Glapion — Wed, 21 Oct 2009 19:09:57 +0000

I have been using the Mod Comparison Report since is became available in the 09.08 Update. It is a tremendous report and helps to focus the insured’s attention to just what is happening with his/her loss experience. This report coupled with the Specific Loss Detail Sensitivity Report go a long way to helping an insured understand how their mod is impacting their premium as well as developing an appreciation for the minimum mod.

Thanks for this improvement along with the True Cost of Loss by Policy Period Report. Including the payroll is a great idea.

Mike,
Director, Risk Management Services
Gillis, Ellis & Baker, Inc.

Comment on Take Our Collateral Survey by A 2009 Collateral Perspective « The WorkCompEdge Blog

A 2009 Collateral Perspective « The WorkCompEdge Blog — Mon, 19 Oct 2009 20:05:37 +0000

[...] Interested in collateral issues? Don’t miss our collateral survey. [...]

Comment on A 2009 Collateral Perspective by Take Our Collateral Survey « The WorkCompEdge Blog

Take Our Collateral Survey « The WorkCompEdge Blog — Wed, 07 Oct 2009 19:03:40 +0000

[...] a follow-up to Michelle Bradley’s recent blog article “A 2009 Collateral Perspective,” we’ve decided to conduct a survey of professionals currently involved in collateral issues [...]

Comment on Improve Your Cash Flow with Pay-As-You-Go Workers Comp by Frank Pennachio

Frank Pennachio — Mon, 28 Sep 2009 22:21:31 +0000

We appreciate comments to blog posts as they provide additional perspectives and an opportunity for greater clarity.

First, some clarity. My view of Pay-As-You-Go programs is that they must be utiilized wtih a qualified agent. They are just a way to pay premiums, but are not intended to be a tool to remove a qualified agent and place the clients in the hands of someone who is not best suited for them. Pay-As-You-Go Programs are frequently used by qualifed agents as a service to their clients.

I would disagree that most audit problems arise from miscommunication regarding exposures. This is probably not the forum to detail all of the areas where problems and overcharges occur, but WorkCompEdge addresses them in detail.

Monthly reporting is still available, but usually requires a large down payment which is held in a deposit account and does not apply to the premium due. In these tough times, removing working capital from the business is not something most employers want to do. Pay-As-You-Go Programs do not require deposits and employers only have to pay premiums on their actual payroll from their current pay period.

Thanks again for the comments … keep them coming!

Comment on Improve Your Cash Flow with Pay-As-You-Go Workers Comp by WorkCompEdge Blog Editor

WorkCompEdge Blog Editor — Mon, 28 Sep 2009 19:25:39 +0000

One of our readers sent this email, disagreeing a bit with Frank’s take on pay-as-you-go, and adding some other insight. What’s your opinion?

This article may be a little misleading. I work with insured’s who have had audit problems. In my opinion, most audit issues are created when the insured, the agent and the carrier don’t communicate about the real exposures. Generally speaking, I also find that if there are audit issues with the WC premium, there are also audit issues with the GL coverage.

Not all payroll services are the same and not all payroll services provide the same level of service that a committed independent agent can. I am working with a multi-state client right now who is with an international payroll service. The payroll service is not providing good service and failed to identify USL&H exposures; even though they issued COI’s for marine operations. In a worst case scenario, this oversight exposed the insured’s executive officers to fines and potential jail time. While some payroll providers agree to partner with independent agencies at some level, this particular service provider does not. So the only benefit of working with this provider is a the monthly premium payment.

When I started in this business, there used to be a monthly payroll reporting option. I think that this is a still available, though probably underused option Maybe the time is right to explore this old fashioned way of calculating WC premiums.

Comment on Injured Employees and the Psychology of the Right Treatment by Legally Correct: How Your Hiring Practices Affect Your Work Comp Premiums « The WorkCompEdge Blog

Fri, 25 Sep 2009 20:26:08 +0000

[...] my next blog, we’ll talk more about back-to-work programs. As Jim mentioned in his comments to my last blog entry, it’s all about [...]