1 / 24

MASI 16 th Annual Fall Conference September 25-27, 2013

MASI 16 th Annual Fall Conference September 25-27, 2013. 2012 Statistical Highlights There were 11,246 claims filed in 2012 that caused employees to miss work 5 or more days. There were 2,629 claims controverted in 2012.

roscoe
Download Presentation

MASI 16 th Annual Fall Conference September 25-27, 2013

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. MASI 16th Annual Fall Conference September 25-27, 2013

  2. 2012 Statistical Highlights • There were 11,246 claims filed in 2012 that caused employees to miss work 5 or more days. • There were 2,629 claims controverted in 2012. • Hinds County was the county with the most occurrence of injuries with a total of 1,247 claims followed by Harrison county with 756 claims.

  3. 2012 Statistical Highlights (continued) • Females were reported less frequently with 4,502 claims (40.0%). • Major injuries or illnesses occurred on Monday , with a total of 2,112 claims. • March was reported most frequently as the month of occurrence with 1,053 claims or 9.4% followed by May with 1,034 claims or 9.2%. • Strain was the leading nature of injury with 4,061 claims or 36.1%.

  4. 2012 Statistical Highlights (continued) • Lower Back -Lumbar was the part of body affected most with a total of 1,588 claims or 14.1% followed by Multiple Body Parts with a total of 1,493 claims or 13.3%. • Lifting was the leading cause of injury with a total of 1,452 claims or 12.9%, followed by Strain/Injury with 927 claims. • There were 67 fatalities reported in 2012. • There were 7,606 claims received from Insurance carriers, 3,580 from Self-Insured employers.

  5. Some Historical Data On SIG • 10 active groups as of 1/1/2013 • Excluding state agencies • MMA – Rest – Comp Choice – Loggers Runoff only • Earned Premiums • Forever to date $1.9B • Cumulative surplus all groups $153.3m • This is net of $152m dividends distributed

  6. Some Historical Data On SIG (cont’d) • G and A expenses • > 30% - 2 funds • 20-30% - 3 funds • < 20% - 4 funds • Not including State Agencies

  7. NCCI Data • Written premiums up 10% 2012 • Following decrease 2006-2010 • Economic recession • Loss of Mfg & Const jobs • -Soft market • Claims frequency down 1% 2011 • After increasing in 2010 for first time in 13 years • Project 2-3% decline 2012

  8. NCCI Data (cont’d) • Claim cost moderated • Indemnity cost • Decline slightly 2010 • Increase 2% 2011 • Medical cost per claim + 4% 2011 • Medical currently 60% of total losses

  9. Interesting Changes Taking Place • Oklahoma reforms • Authorized binding arbitration • Causation standard changed – must be “solely” result of injury • TTD reduced to 104 weeks – additional 52 weeks possible • Mental injuries 26 weeks • TTD rate reduced to 70% AWW (down from 100%) • PPD reduced to 350 weeks from 520 weeks • Fee schedule reduced 5%

  10. Interesting Changes Taking Place (cont’d) • Tennessee 2013 Reform • Administrator appointed by Gov. • Judges hired by administrator • Appeals 3 member review Board appointed by Gov., then to Supreme Court • PPD modified and capped at 3 times rating

More Related