Quote of the day
"Our main concern is that what is put in place is workable and relatively long term?"
Julie Rochman, senior vice president of public affairs for the American Insurance Association, which will work Congress hard this year
Industry Pushes for Permanent Terrorism Backstop
The Terrorism Risk Insurance Extension Act sunsets at the end of this year, which could leave the workers’ comp industry exposed to possible collapse in case of a major terrorist event. What’s an industry to do? Find out in this week’s issue of Workers’ Comp Executive.
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Chairs Migden and Coto Make Waves Early
The San Jose Mercury News accuses Assembly Insurance Committee Chair Joe Coto of being too cozy—donation-wise—with insurers. But guess what a little digging by Workers’ Comp Executive found out? Premium subscribers can read all about it here.
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DWC Medical Fee Changes to Cost a Mere $80 Million a Year
DWC is promulgating regulations that will peg Official Medical Fee Schedule physician reimbursement fees for 10 of the 100-plus evaluation and management codes to Medicare rates. Premium subscribers can find out why changing only 10 codes costs more than changing 100. Just click here.
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To PD or Not PD, That Is the Question
Publius takes on Permanent Disability and gives kudos to at least one important player. This clear content commentary is available by clicking here.
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Bill Proposes RBC Changes
Earlier monitoring of potential trouble for P & C carriers is what a new bill is about. Find out who is behind the proposed changes to California’s Risk Based Capital legislation in the current print edition of the Workers’ Comp Executive.
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Report on Cheating in Empire State System Released
Between 25 percent and 30 percent of companies in New York fail to provide workers’ compensation coverage, which drives up premium costs, according to a report released this week by a Florida-based consulting firm. The insurance industry is challenging the report’s conclusions. By Jay Gallagher, Utica Observer-Dispatch
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Swedish Court: Tough Cookies for Employer
The Swedish Supreme Administrative Court rules that a ceramic stove salesman who chipped a tooth on a cookie while visiting a customer is entitled to compensation for his dental work because the injury occurred on the job and was, thus, work-related. By AP via Fox
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Hardie Shareholders Approve Asbestos Fund
James Hardie Industries shareholders in the Netherlands vote overwhelmingly in favor of an asbestos compensation fund worth more than $1.2 billion (USD), drawing praise from company chairwoman Meredith Hellicar. Sydney Morning Herald
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Commentary: Ohioans Deserve to Know What Went Wrong at BWC
This week’s report of charges against a Florida marketer for allegedly bribing the Ohio Bureau of Workers’ Compensation’s former investment chief makes it clear that the investigation into wrongdoing at the beleaguered bureau is far from done. Wheeling (W.V.) Intelligencer
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