Pressured at Both Ends: Changes in Labor Market Affect Small Business Workers' Comp

What happened

Small businesses often must create this type of solution in-house because carriers in the small business workers comp market don’t always provide the same resources (such as loss control engineering and carrier-led training) they might deliver to larger accounts. With 22 years of experience in the property and casualty insurance industry, Mike has held roles in underwriting and underwriting management across a variety of lines of business, with a particular specialization in workers compensation. Recent changes to NCCI’s experience rating methodology can change how individual losses affect an employer’s experience mod, and agents and insureds are still becoming familiar with those changes.

Key details

• With 22 years of experience in the property and casualty insurance industry, Mike has held roles in underwriting and underwriting management across a variety of lines of business, with a particular specialization in workers compensation.
• Recent changes to NCCI’s experience rating methodology can change how individual losses affect an employer’s experience mod, and agents and insureds are still becoming familiar with those changes.
• If frequency is up in the area of slip-and-fall claims, for instance, the agent can help the client address that by requiring non-slip shoes or cleaning the facility more often.

Why it matters to restoration

This belongs on an operator’s radar because insurance behavior sets the rules for documentation, scope disputes, cash flow and customer expectations. If the article points to a carrier, court or coverage trend, the practical question is what proof your next file needs before the argument starts.

What to check next

Check whether your estimates, photos, notes and customer updates would survive the same dispute described in the article.

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