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April 22, 2024
California Division of Workers’ Compensation Posts Updated Time of Hire Notice

April 22, 2024
Sullivan on Comp Launches ChatSOC. It's an Innovative Chatbot for California Workers' Compensation Professionals Integrated with an Authoritative Legal Treatise

April 19, 2024
Workers Compensation Bill 2024: One percent of employee’s salary to contribute to workers’ compensation fund in Kenya.

April 15, 2024
Colorado Worker Shows Head Injury Happened as a Consequence of a Knock on the Head at Work

Early reports out of Orlando, FL from the "Annual Issues Symposium" cast a shady picture of the state of Workers’ Comp in the US. The symposium, hosted by the National Council on Compensation Insurance (NCCI), kicked off Wednesday, April 18 with that sobering analysis.

Prior to the symposium, NCCI President and CEO Bill Schrempf commented that, "Reserves are deteriorating and seem to be very deficient. Reported results are getting worse."

NCCI had initially reported that 1999 accident year loss cost ratio for Workers’ Comp reached 134%, the highest level in 15 years. Now NCCI has revised its initial 1999 estimate to 137%, with its 2000 estimate in the neighborhood of 136%.

The factors driving these trends are being attributed to decline in claim frequency, fierce competition and over-reliance on rating bureau forecasts.

All said, the national Workers' Comp picture is starting to be more representative of California. NCCI estimates that the Workers’ Comp Industry in the US is under-reserved by $20 Billion.