What's Happening with Costs and What to Do About Them

Conger, Bob; Conway, Ann
November 2003
Financial Executive;Nov2003, Vol. 19 Issue 8, p52
Academic Journal
This article discusses workers' compensation coverage of companies in the U.S. and examines perceptions on why costs have been on the rise. The author examines the source of costs and some of the financing structures used by companies to determine the coverage their employees receive as well as the costs of the program for the company. The author notes that many companies benefited from cost management programs implemented in the 1980s during the 1990s and that a competitive market drove costs down as well. The author notes that some of the factors that contribute to the perception that costs of workers' compensation are rising include location, the risk-financing structure of a company, what costs are actually compared and the company's track record with employee injuries.


Related Articles

  • Opportunities growing in self-insurance market. Brigati, George // Best's Review / Property-Casualty Insurance Edition;Apr96, Vol. 96 Issue 12, p72 

    Reports on the growing number of employers in the United States who are funding their workers' compensation programs themselves. Self-insurance of workers' compensation as a significant business opportunity for insurance agents; Roles for agents in self-insured workers' compensation; Advantages...

  • Workers' Comp Line Turns Profit In 2006. Sclafane, Susanne // National Underwriter / P&C;8/13/2007, Vol. 111 Issue 30, p24 

    The article reports on the decrease of the overall net combined ratio for the workers' compensation insurance market in 2006 in the U.S. It is estimated that the net combined ratio is at 95.4, which follows the gradual decline since 2002 due to the September 11, 2001 terrorist attack. Karen...

  • workers' compensation--the other self--insured liability. Frese, Richard C. // hfm (Healthcare Financial Management);Aug2013, Vol. 67 Issue 8, p48 

    The article focuses on the management of workers' compensation risk exposure as a key to effective management of self-insured liability of healthcare providers in the U.S. Steps are provided for self-insured entities to take to understand, report, and control exposure to workers' compensation...

  • Company self-insured for mine tragedy claims. Roberts, Sally // Business Insurance;4/12/2010, Vol. 44 Issue 15, p1 

    The article focuses on insurance issues surrounding the explosion that killed at least 25 workers at a mine operated by Massey's Performance Coal Co. in Montcoal, West Virginia. According to a company report with the U.S. Securities and Exchange Commission (SEC), it does not have business...

  • Strategies for containing costs. Bornmann, David R. // Industrial Management;Nov/Dec98, Vol. 40 Issue 6, p24 

    Reports that forward-thinking executives have begun to explore energy management ideas in an effort to reduce balance sheet costs. One idea that is gaining acceptance among executives; Importance of developing a long-term commodity purchasing strategy; Three most common pricing arrangements.

  • Reforms, self-insurance ease the pain. Fletcher, Meg // Business Insurance;10/30/97, Vol. 31 Issue 44, p104 

    Focuses on how legislative reform, increase use of self-insurance and loss-control programs have ease the burden imposed by expensive and unresponsive workers compensation insurance market. Identification of the root causes of the affordability and availability problems of 1984-1992; Reference...

  • Workers' comp. SIGs need commitment to thrive. Hartnett-Barry, Joan // National Underwriter / Property & Casualty Risk & Benefits Manag;12/4/95, Vol. 99 Issue 49, p13 

    Discusses issues affecting workers' compensation self-insured groups (SIG) in the United States. Importance of long-term commitment by members of the group; Status of workers' compensation SIG in Massachusetts; Tips to a successful SIG.

  • Self-insured employer health plans: Prevalence, profile, provisions, and premiums. Acs, Gregory; Long, Stephen H. // Health Affairs;Summer1996, Vol. 15 Issue 2, p266 

    Presents data from three surveys which indicate that about 40 percent of workers with employment-based health insurance are enrolled in plans that their employers self-insure. Differences between federal regulation of self-insured plans and state regulation of employee plans purchased from an...

  • Taking control: How non-profits can benefit from workers' compensation self-insurance groups. Church Jr., Frederic C. // National Public Accountant;May95, Vol. 40 Issue 5, p20 

    Advises non-profit organizations on workers' compensation self-insurance groups. Benefits of the self-insurance group process; Value of safety programs; Demands of a risk management approach; Requirements for the participation in a self-insurance group.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics