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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance

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The COVID-19 Pandemic: Opportunities and Implications for Captive Insurance explores the challenges presented by today's business and economic upheaval, as well as the hardening insurance market, and what it means for the captive insurance industry.

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Workers Compensation Reform Challenges To Consider

Injured Workers
April 15, 2015

If your captive is insuring workers compensation through a fronting insurer in multiple states, you could benefit from an up-to-date overview of the numerous workers compensation reform challenges that are taking place. The articles cited below will help get you up to speed.

An April 12, 2015, article titled "States--Not Feds--Should Oversee Workers Comp; Reform Challenges Mount" on the Carrier Management website reports on a presentation on key workers compensation issues by Mark Walls, vice president of communications and strategic analysis for Safety National, at the recent Advisen Casualty Insights conference. The Executive Summary of the Carrier Management article indicates one of the emerging issues Mr. Walls identified was state workers compensation exclusive remedy statutes.

“The fate of the 'exclusive remedy' feature of the workers compensation system rests in the hands of the courts in several states, and a new OSHA [Occupational Safety and Health Administration] reporting rule could deliver a brand new weapon to plaintiffs’ attorneys to erode it in the rest...,” the Carrier Management article states in summarizing Mr. Walls's presentation..  

A second article that should be of interest, “The Demolition of Workers’ Comp” by Michael Grabell, ProPublica, and Howard Berkes, NPR, was published on March 4, 2015, on the ProPublica website. (It also appears under a different title on the NPR website.) This article concludes that “Over the past decade, states have slashed workers’ compensation benefits, denying injured workers help when they need it most and shifting the costs of workplace accidents to taxpayers.”

These articles raise the question and emerging issue of whether states will continue to determine workers compensation public policy or whether the federal government will have a future role.

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