tag:blogger.com,1999:blog-84222900778768437872012-02-24T19:24:30.558-08:00"How To Lower Your Workers Compensation Costs and improve EBITDA"Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comBlogger44125TakingControlOfYourWorkersCompensationProgramhttp://feedburner.google.comtag:blogger.com,1999:blog-8422290077876843787.post-75210897118317482592012-02-24T19:24:00.000-08:002012-02-24T19:24:30.774-08:002012-02-24T19:24:30.774-08:00

In the world of experience rating, the ex mod dictates the final rate you pay for workers compensation. Since insurer rate times your ex mod drives the final premium you pay, and your broker’s compensation is tied directly to the final premium, your broker receives more compensation when your ex mod goes up, and less when it goes down. Let’s analyze the impact of this situation as it

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2012/02/creating-win-win-strategies-with-your.htmltag:blogger.com,1999:blog-8422290077876843787.post-35207656541346220052012-01-26T15:08:00.000-08:002012-01-26T15:08:05.892-08:002012-01-26T15:08:05.892-08:00

Did it ever dawn on you that your workers compensation policy is a financing program for paying future claims? There are two primary elements that make up the financing aspects of workers compensation premiums. One element is controllable by the insured, and one is not. The two elements combined make up 100% of the total final cost you pay for workers compensation. The element you control makes

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2012/01/how-workers-compensation-financing.htmltag:blogger.com,1999:blog-8422290077876843787.post-85675694498187147282012-01-26T13:29:00.001-08:002012-01-26T13:37:07.013-08:002012-01-26T13:37:07.013-08:00

Answer these 5 Questions. Do you want to boost profits and EBITDA without growing top line, increasing your sales force, or laying off personnel? Do you want to conquer the top 3 mistakes that keep 95% of insurance buyers from improving their overall workers compensation expense-even during the worst economic times? Do you want to discover little known techniques that can cut your

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2012/01/things-to-ponder-about-workers.htmltag:blogger.com,1999:blog-8422290077876843787.post-9455927013143477942012-01-12T17:52:00.000-08:002012-01-12T17:54:32.642-08:002012-01-12T17:54:32.642-08:00

This article was provided courtesy of our actuarial support team at Sigma Actuarial.  An underwriter once emailed me declaring that the IB and R load was too high on a particular account. I never had the heart to ask him what the letters I, B, or R signified in that statement, but obviously that must be what IBNR sounds like when pronounced too fast or with an accent. Anyone involved in risk

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2012/01/afraid-to-ask-what-ibnr-represents.htmltag:blogger.com,1999:blog-8422290077876843787.post-42233566300622762622011-12-30T02:55:00.000-08:002011-12-30T02:55:23.447-08:002011-12-30T02:55:23.447-08:00

Once you see a Purple Cow you'll never forget what she looked like the first time. How she glistened in the sun, and how her bright leather coat caught your eye. You also had visions of making that beautiful purple leather dress you've been dreaming about wearing out with your friends, right?  Do I have your attention?  Good. Ideas That Stick are becoming harder and harder to come by. It seems

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/private-equity-purple-cows-ebitda-and.htmltag:blogger.com,1999:blog-8422290077876843787.post-59663578238047643822011-12-29T23:18:00.000-08:002011-12-30T01:22:11.394-08:002011-12-30T01:22:11.394-08:00

ChoicesWhy is it that some employers in the same geographical region, in the same business, hiring from the same pool of applicants, have such completely differing workers compensation and employment related liability costs?I hear it often, “that’s just the way it is”, or “there’s nothing I can do about it.” Across town however, the businesses main competitor has an experience mod nearly 50%

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/more-things-stay-same-more-things.htmltag:blogger.com,1999:blog-8422290077876843787.post-67569632167686531752011-12-20T17:04:00.000-08:002011-12-20T17:46:12.861-08:002011-12-20T17:46:12.861-08:00

Perhaps one issue raised frequently by Safety Directors and some of my other clients is how to convince a CFO and or CEO to invest in safety.While in its simplest form what you are about to learn is fairly basic, it still addresses the real value that can be achieved by Safety Directors and Safety Officers looking to convince their C Level executives that safety is profitable. Or, perhaps in

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/quantifying-and-measuring-how-your.htmltag:blogger.com,1999:blog-8422290077876843787.post-62498514651603429022011-12-19T14:54:00.000-08:002011-12-19T14:58:19.640-08:002011-12-19T14:58:19.640-08:00

If you would like a free copy of our white paper "The 10 Classic Mistakes That Employers Make That Screw Up Their Workers Compensation Programs and How To Remedy Them", drop me a line at cbaird@sullicurt.com and I'll email a pdf version directly to your desktop

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/10-classic-mistakes-that-employers-make.htmltag:blogger.com,1999:blog-8422290077876843787.post-41423853955267793232011-12-17T14:25:00.000-08:002011-12-17T15:29:11.018-08:002011-12-17T15:29:11.018-08:00

California often blazes the trail in leading the nation in change. While some may argue the change California blazes the path under is not necessarily beneficial to the other states that follow our lead, Workers Compensation cost increases often "Start Here and Are Raised Elsewhere".In 2010, the Workers Compensation Insurance Rating Bureau (The WCIRB), established a new formula for determining a

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/california-was-first-now-ncci-will.htmltag:blogger.com,1999:blog-8422290077876843787.post-11903238876730410132011-12-15T21:43:00.001-08:002011-12-15T22:27:35.847-08:002011-12-15T22:27:35.847-08:00

Ex Mods Are Up, Prices Are Up. What's happening to your work comp costs, or do you know yet?How Are You Taking Advantage of Improving Your Work Comp Plan Results While You can?While I've written constantly about the coming rate increases and changes in the Work Comp market, I've found myself wondering when the insurers were going to follow suit based upon the loss development that's been

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/12/ex-mods-plus-price-increases-equals.htmltag:blogger.com,1999:blog-8422290077876843787.post-81174012563527719032011-10-20T13:57:00.000-07:002011-10-20T13:58:05.229-07:002011-10-20T13:58:05.229-07:00

Division of Occupational Safety and Health (DOSH) Chief Counsel and prosecutor Amy Martin, yesterday, minced no words when addressing what she says is the part of AB 2774 that employers should put their focus on."All people want to talk about is the stupid 1BY form," Martin commented at the 2011 professional development conference of the American Society of Safety Engineers' Sacramento chapter. "

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/10/avoiding-dosh.htmltag:blogger.com,1999:blog-8422290077876843787.post-29398848129162539572011-01-25T10:32:00.000-08:002011-01-25T10:33:19.145-08:002011-01-25T10:33:19.145-08:00

New Law: Serious Violations to Impact Employers & BrokersPosted on January 14, 2011 by adminTaken from Award Winning Workers’ Comp Executive.Written by: Kevin Thompson in PetalumaThe most important piece of occupational safety and health legislation in the past decade – AB 2774 – and one of the most important since Cal/OSHA came into existence, is now law. Now, when the Division of Occupational

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/01/ab-2774-something-you-should-worry.htmltag:blogger.com,1999:blog-8422290077876843787.post-50788543338261584802011-01-17T22:54:00.000-08:002011-01-17T22:54:50.440-08:002011-01-17T22:54:50.440-08:00

Meat Processing Plant Hit With Safety Citations « CBS Chicago – Breaking News, Sports, Weather, Traffic, and the Best of Chicago

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2011/01/meat-processing-plant-hit-with-safety.htmltag:blogger.com,1999:blog-8422290077876843787.post-19221129279311729172010-12-05T17:07:00.000-08:002010-12-05T18:26:58.215-08:002010-12-05T18:26:58.215-08:00

Have you often wondered, (I know I have), just what causes employees to exacerbate an injury and lay claim to financial damages from additional body parts that were not part of the original injury on the First Notice Of Injury Report? For example, it is not uncommon to see a disgruntled employee lay claims to psyche claims from a simple injury that had no causal effect to a psyche claim. Not only

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/12/organizational-development-leadership.htmltag:blogger.com,1999:blog-8422290077876843787.post-26085398960417946652010-09-07T18:02:00.001-07:002010-09-07T18:02:41.613-07:002010-09-07T18:02:41.613-07:00

Should You Take The Doctor's Word For It? by John Bitar, Esq. The heart of every Workers' Compensation case begins with the physician's rating within the AMA Guides. A recent study published in the AMA Guides Newsletter, investigated more than 6,200 AMA impairment ratings revealing an error rate of 78%! The resulting AMA ratings averaged more than twice the impairment that should have been

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/09/trusting-right-person-and-its-impact-on.htmltag:blogger.com,1999:blog-8422290077876843787.post-17017033893334628112010-08-31T12:42:00.000-07:002010-08-31T13:43:06.509-07:002010-08-31T13:43:06.509-07:00

Workers Compensation Insurance Rating Bureau Releases First Quarter 2010 ResultsThe WCIRB released it's quarterly summary of insurer experience on August 26th, 2010. In its report, the rating bureau illustrates the rapidly changing loss development of California based workers compensation insurers. Included in this summary are the impacts of both Ogilvie v. City and County of San Francisco, and

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/08/2010-first-quarter-results.htmltag:blogger.com,1999:blog-8422290077876843787.post-79365811186987871422010-08-24T13:05:00.001-07:002010-08-24T16:34:17.522-07:002010-08-24T16:34:17.522-07:00

What business costs are bugging you in your budgets for 2011?Were you even thinking that Workers Compensation rates would be an issue worth contemplating?If you did, good thinking.The Workers Compensation rating bureau released its 29.6 percent increase and many of you are aware of this, however, are you aware that more than 50 classes of business will face 50 percent increases? Are you also

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/08/workers-comp-2011-rates.htmltag:blogger.com,1999:blog-8422290077876843787.post-14971313996496911972010-08-16T15:22:00.000-07:002010-08-16T16:20:44.992-07:002010-08-16T16:20:44.992-07:00

Workers Compensation and The Myths About Employee Leasing ArrangementsWith rising worker's compensation rates, and increases in many employer's experience mods, it is likely that the rise of employee leasing arrangements will gain strength once again. The various promises made by leasing companies are simple, we'll provide your workers compensation, human resources functions, and payroll services

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/08/employee-leasing-arrangements.htmltag:blogger.com,1999:blog-8422290077876843787.post-53687411165541718422010-08-10T10:06:00.000-07:002010-08-13T11:31:02.729-07:002010-08-13T11:31:02.729-07:00

Although it is not official, the Workers Compensation Insurance Rating Bureau (WCIRB) announced just a few days ago it's findings regarding 2011 recommend California work comp rate increases. It is not good news for employers who have operations in California.The 30 percent recommendation follows two years of declining claims experience in the state. Employers should be prepared for this

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/08/california-work-comp.htmltag:blogger.com,1999:blog-8422290077876843787.post-74606397842934858652010-07-08T16:44:00.000-07:002010-07-08T16:45:55.775-07:002010-07-08T16:45:55.775-07:00

A workers compensation bill is made up of controllable and non controllable costs. Your controllable cost is made up of your Experience Modifier (EM). This EM is applied directly to your bill as a debit or credit. It is this controllable cost where you can save million’s of dollars annually. Let’s look at a recent case study. Prior to our recent engagement our prospect had an EM of 200%.

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/07/saving-millions-on-your-workers.htmltag:blogger.com,1999:blog-8422290077876843787.post-14331511988227811692010-06-14T14:46:00.000-07:002010-06-14T14:47:08.528-07:002010-06-14T14:47:08.528-07:00

FLASH REPORT!Combined Ratio Climbs 17 Points In 2009The rapid decline in earned premiums in California's workers' comp market pushed carrier's combined ratio well into the triple digits last year, ultimately clocking in at 118.2, according to preliminary data from the Workers' Compensation Insurance Rating Bureau. State Compensation Insurance Fund ended 2009 with a combined ratio of 161.5. The

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/06/where-are-california-work-comp-rates.htmltag:blogger.com,1999:blog-8422290077876843787.post-16201834282649672402010-05-05T12:24:00.001-07:002010-05-05T12:25:26.707-07:002010-05-05T12:25:26.707-07:00

Nurses want certain injuries, illnesses to be presumed job-related [The Sacramento Bee, Calif.]May 4--California nurses and hospitals are locked in a precedent-setting fight over injury compensation that could benefit nurses but cost hospitals hundreds of millions annually.Proposed legislation would declare that various infectious diseases or back and neck injuries suffered by nurses stemmed from

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/05/california-nurses-seek-to-adjust.htmltag:blogger.com,1999:blog-8422290077876843787.post-66477659188404552822010-05-02T16:03:00.000-07:002010-05-02T16:08:37.779-07:002010-05-02T16:08:37.779-07:00

The Proper Timing of Workers' Compensation DeductionsBY SCOTT MACKAY, CPAMARCH 1, 2010For companies with more than a de minimis amount in their workers’ compensation reserve, it may be worthwhile to review the details underlying the reserve amount. The reason? These days a significant portion of a workers’ compensation reserve likely results from amounts due to medical service providers for

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/05/proper-timing-of-deductions-in-self.htmltag:blogger.com,1999:blog-8422290077876843787.post-45396384378929472922010-04-24T07:49:00.000-07:002010-04-24T07:52:54.649-07:002010-04-24T07:52:54.649-07:00

Hidden Costs….Millions lost $$$$$Most physicians are not familiar on how to calculate an accurate impairment rating according to AMA Guidelines. Since this process is used as a basis for a PDR and claim settlement, it is critical that the Impairment Rating is correct. Unfortunately, eight out of ten Impairment/Disability Rating reports contain errors which increase the out-of-pocket cost of the

Colin D. Bairdhttp://www.blogger.com/profile/04869627251974402445noreply@blogger.comhttp://privateequityriskmanagers.blogspot.com/2010/04/how-to-improve-your-impairment-ratings.htmltag:blogger.com,1999:blog-8422290077876843787.post-74109388637660190382010-04-18T12:05:00.000-07:002010-04-18T12:08:08.868-07:002010-04-18T12:08:08.868-07:00

California’s Weakening Workers Compensation MarketColin D. BairdVice PresidentSullivan Curtis Monroecbaird@sullicurt.com On April 14, 2010 the Workers Compensation Insurance Rating Bureau (WCIRB) released the summary of insurer experience as of December 31st, 2010. While not tremendously surprising, it should cause great alarm to those parties responsible for their businesses bottom line. The

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