When following the proper channels, businesses can benefit from the support that comes with coordinating the claims process through an expert. Claims representatives have proven knowledge and experience to settle claims at the lowest possible amount while also providing lifecycle claims handling, offering customized support, and detecting potential fraud. Claims representatives are also able to close the claim as soon as possible, helping with the prevention of high litigation costs.

Claims Costs & Reporting Lag Time

Depending on business size, the cost of a claim can impact a company’s Experience Modification Rate (for Workers’ Compensation) and underwriting discretionary pricing. (EMR), also known as experience modification factors or an experience modifier, are a comparison of a company’s expected Workers’ Compensation claim costs versus the actual claim costs.

To support strong EMR results and reduce overall costs, it is in a company’s best interest to report a claim as soon as it occurs. There are numerous studies confirming that the sooner an insurance carrier can work on claim management, the lower the ultimate payout will be. In fact, according to a research brief on the relationship between accident reporting lag times and claim cost in Workers’ Compensation by the the median cost of claims reported one day after an incident was significantly lower than claims that were reported two weeks after an incident.

Best Practices for Claims Handling

It is crucial to report a claim immediately to your company’s insurance carrier to enable the carrier to assign an expert to handle the claim, create a case number for the incident, and begin to control the cost. If a claim occurs during your policy period, make sure to report the claim as soon as possible directly through the insurance carrier’s website or phone number.

Reporting claims promptly will benefit your company and, ultimately, help keep insurance costs low.

Learn More

������������ܰ���’s SureClaims experience leverages cost-saving practices to help protect your bottom line. Minimize total costs through technology, clinical expertise, medical provider collaboration, and negotiation services, including medical bill review, injury fraud prevention, early return-to-work programs, risk mitigation, managed medical costs and our digital first notice of loss portal.

Top Blogs of 2022

OSHA Announces Top 10 Safety Violations for 2022

The Occupational Safety and Health Administration (OSHA) released its list of the most frequently cited safety standards for fiscal year 2022. The annual list, announced at the National Safety Council Safety Congress & Expo, is determined from worksite inspections and aims to alert employers and safety professionals about frequent citations and violations to help prevent their occurrence.

Manufacturing Industry Trends: What Successful Companies Are Doing Differently

Safety, technology, and strong teamwork to enhance collaboration are just some of the factors that manufacturers are focusing on to create improved efficiencies. As the manufacturing industry eyes positive economic indicators amid continued supply chain disruptions, now is the time for companies to consider some of the key characteristics of future-ready manufacturers.

Honorable Mention
91������-Sponsored Athlete J.J. Spaun Earns Victory in San Antonio, Ticket to Augusta

It’s an exciting time for 31-year-old J.J. Spaun, an 91������-sponsored golf professional who rallied from a double bogey start in the final round at the Valero Texas Open in San Antonio, Texas, producing birdies and pars thereafter to regain the lead. He dropped to 13 under par and held it, winding up with his first PGA TOUR victory by two shots and an invitation to the Masters this weekend. Fans, followers, and the 91������ family cheered him on and are ecstatic for Spaun and his hard-fought victory.

Top Blogs of All Time

91������ has been sharing helpful information for policyholders on our Insights Blog for nearly a decade. Below are some of our most-read blogs of all time.

• Why a Clean Construction Site is a Top Priority
• Four Construction Accidents that Shook the World
• What is “Construction Defect” and Why all the Fuss?
• Pros and Cons of a Return to Work Program

Manufacturing Day is held on the first Friday of October each year with the purpose of highlighting the importance of this significant sector along with the opportunities and challenges within this field. In total, manufacturing  contributes 20% of the nation’s capital investment, 35% of productivity growth, and 60% of exports, .

The annual Manufacturing Day event is coordinated by The Manufacturing Institute and helps to inspire the next generation of workers, an especially important focus during today’s changing landscape — which has become more digital and more sustainable — and the cross-industry skilled labor shortage.

Participate in Manufacturing Day 2022

Businesses and educational institutions across the U.S. are encouraged to check out the virtual and in-person resources and events taking place as part of National Manufacturing Day and help inform the workforce of tomorrow about what it means to be a part of today’s manufacturing world.

Learn More About the Manufacturing Outlook

Visit these resources to learn more about trends in the manufacturing industry today, including the common risks and opportunities associated with the transformation of manufacturing and the top manufacturing trends to watch including changes to the workforce, supply chains, and more.

• Manufacturing Industry Trends: What Successful Companies Are Doing Differently

Protection Forged in Partnership

91������ is expanding its focus on the manufacturing industry by investing in our products and people who provide the expertise you rely on to help protect your manufacturing business. Learn more about the unique coverage and technologies to complement your manufacturing programs, including our new Product Recall and Manufacturers Errors & Omissions products, expanded appetite to provide industry-leading service to more manufacturing businesses, and an increased investment in our expert employees with manufacturing knowledge.

New processes and systems brought on by the COVID-19 pandemic have improved manufacturing operations and are here to stay. In fact, 95 percent of manufacturers stated that they expect most of the process changes to be permanent, according to a recent Salesforce Trends in Manufacturing report.

Safety, technology, and strong teamwork to enhance collaboration are just some of the factors that manufacturers are focusing on to create improved efficiencies. As the manufacturing industry eyes positive economic indicators amid continued supply chain disruptions, now is the time for companies to consider some of the key characteristics of future-ready manufacturers:

• Prioritizing employee safety through technology ­– In today’s manufacturing environment, more companies are leveraging cutting-edge technology such as virtual reality training and wearables to enhance worker safety and minimize risk. Interactive training can improve employees’ ability to perform the role correctly by 58%, according to the Occupational Health & Safety Administration.
• Embracing digitization to improve processes – The acceleration of digital technology adoption could bring operational efficiencies to scale for manufacturers, according to Deloitte. Fifty percent of manufacturers stated they plan to through 2025.
• Attracting and retaining a quality workforce ­– More than 80 percent of manufacturers recently stressed the importance of talent acquisition to recruit, engage and maintain a robust team, according to . The industry is as demand for goods remains high.

Protection Forged in Partnership

91������ is expanding its focus on the manufacturing industry by investing in our products and people who provide the expertise you rely on to help protect your manufacturing business.

Learn more about the unique coverage and technologies to complement your manufacturing programs, including our new Product Recall and Manufacturers Errors & Omissions products, expanded appetite to provide industry-leading service to more manufacturing businesses, and an increased investment in our expert employees with manufacturing knowledge.

Underwriting and pricing
Using big data, insurers can very quickly identify whether a new business opportunity is right for them, and how to price the policy. Big data collects information from existing policies with the insurer and similar accounts with other carriers. This may provide the policyholder with a better price and more efficient delivery of new business quotes.

Claim resolution
Like underwriting, claim processing and resolution can be expedited with big data. Big data from claims is seen in many quick processes used by insurers today. It allows policyholders to input claim data and receive a resolution or, at minimum, an estimate for the amount of time required to resolve the claim and the potential cost. Budgets and bottom lines can certainly benefit from this use of big data!

Risk management trends
Many insurers collect data from pilot programs and risk management technologies. When this data is combined across numerous policyholders, insurers are able to spot risk trends quicker. In turn, they can share this data with policyholders and even create new technologies that further combat the risks. Enough big data can even contribute to a proactive safety culture for businesses.

So, how will you use big data in partnership with your clients? To learn more about how 91������’s data and analytics can support your business, contact your local risk management or claims representative.

That translates into 11,000 new national construction jobs on a seasonally adjusted basis in May. Nonresidential construction added 4,400 net new jobs in May while the residential sector added 7,100 net jobs for the month.

Bernard M. Markstein, Ph.D., president and chief economist of Markstein Advisors, who conducted the analysis for ABC, feels the results are just part of the bigger picture, “Further evidence of the construction industry’s economic health can be found in the 160,000 more workers employed in the industry compared to April 2016.”

Top Ten States with Lowest Estimated NSA Construction Unemployment Rates
(Ranked lowest to highest)

1. Massachusetts
2. Colorado
3. Hawaii
4. New Hampshire
5. Virginia
6. Utah
7. Vermont
8. South Carolina
9. Delaware
10. Georgia

Top Ten States with the Highest Estimated NSA Construction Unemployment Rates
(Ranked highest to lowest)

1. Alaska
2. North Dakota
3. Illinois
4. Montana
5. New Mexico
6. Alabama
7. West Virginia
8. Pennsylvania
9. Rhode Island
10. Wisconsin

More Good News
According to the U.S. Census Bureau, construction spending totaled $1.219 trillion at a seasonally adjusted annual rate in April 2017, which is down 1.4% from March but up 6.7% y/y from April 2016. Plus, the Construction/CM Staff Salary Survey of 311 companies found that contractors are projecting construction staff wages will increase an average of 3.4% – as reported in PAS, Inc.’s June Contractor Compensation Quarterly.

Thankfully, there is plenty a company can do to ensure low workers' compensation insurance rates, a limited number of claims and safe workers. In many cases, it just takes a little planning and awareness, as well as some proactive measures to prevent small issues from turning into big problems. 

Here are a few potential changes on the horizon for workers' compensation insurance, so an employer can make educated decisions to keep their company profitable:

Lack of technology could play a role
Today's businesses are shifting, and new trends are emerging on almost a daily basis. As a result, many elements of effective enterprise management have been altered as well, including insurance. Keeping up with the times and adapting right alongside can be one of the best things for any firm to do.

According to Insurance Journal, for the workers' compensation insurance industry. Depending on how a company responds, these could be considered impediments to growth or opportunities to achieve success. For example, technological advances have drastically altered many insurance industries, such as health care. However, the workers' compensation sector has fallen behind slightly with innovations, and that could prevent more efficient claims administration and management.

"Even now, today, the usual way is that when you have a claim, you'll go online and file a report online or you'll make a phone call," Thomas Lynch, founder and CEO of consulting firm Lynch Ryan & Associates Inc., told the news source. "Why couldn't you take out your smartphone, have a voice activated app that could allow you to report directly into your carrier's system which would, in real time, display for a claims adjuster? Why can't you, at the same time, take a picture of the incident on your smartphone and include that with the report – the whole claim reported and done in five minutes. We can't do that now and yet we can do it in other areas."

Learn state laws and regulations
Many states take unique approaches to workers' compensation insurance, and that can trip up some employers who have workers – or job sites – in different parts of the country. With that in mind, it may be wise to learn all of these nuances, to ensure that policies are in line with the laws and regulations of the states.

According to Entrepreneur magazine, an employer should first to potential claims from workers who are in different states. In some cases, staff members live and work across a border, or travel for the job itself. Proper coverage must be in place for each location, to prevent a lack of insurance if something were to happen. In addition, the company might also fall under different classifications in certain states. If one of these isn't correct, that could lead to overcharges or audits, two things that are easily avoidable with planning and due diligence.

Overall, managing workers' compensation insurance costs and claims may seem like a complicated task, but it isn't as long as the employer is prepared and vigilant. Challenges may appear soon, but understanding how to adapt and grow can help prevent unwanted problems from appearing. Once this is complete, keeping workers safe and insured on the job will be a simpler proposition.