Download or read book Rate Regulation Safety Incentives and Loss Growth in Workers Compensation Insurance written by Scott E. Harrington and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the relationship between insurance rate regulation, inflationary cost surges, and incentives for loss control using state-level data on workers' compensation insurance for 24 states during 1984-90. Regulators often responded to rapid-loss growth during this period by denying rate increases or approving increases that were less than initially requested by insurers. We test whether rate suppression increased loss growth by distorting incentives for loss control. Our regressions indicate a positive and statistically reliable relationship between loss growth and lagged measures of regulatory price constraints, suggesting that rate regulation increased the frequency and/or severity of employee injuries.
Download or read book Rate Regulation of Workers Compensation Insurance written by Patricia Munch Danzon and published by American Enterprise Institute. This book was released on 1998 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1980s and the early 1990s, America's system of workers' compensation insurance was in trouble. As medical costs grew and benefits and compensable injuries expanded, costs of this insurance skyrocketed. In response, the states imposed price controls, but those controls caused unforeseen--and negative--consequences. The authors define the problems, trace the regulatory responses, and analyze the effects of rate regulation.
Download or read book Workers Compensation Insurance Claim Costs Prices and Regulation written by David Durbin and published by Springer Science & Business Media. This book was released on 2007-08-27 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: The articles in this volume were first presented at the Seventh and Eighth Conferences on Economic Issues in Workers' Compensation sponsored by the National Council on Compensation Insurance. A principal objective of the Conference series has been for workers' compensation insurance researchers to apply state-of-the-art research methodologies to policy questions of interest to the workers' compensation insurance community. This community is a rather diverse group--it includes employers, insurers, injured workers, regulators, and legislators, as well as those who service or represent these groups (e.g., physicians, rehabilitation specialists, labor unions). Despite this diversity and the variety of agendas, the Conference series continues to address many important policy questions. Readers familiar with the Conference series and the four previously published volumes should notice an evolution in terms of the topics addressed in this volume. In the earlier conferences, the topics were more often concerned with the underlying causes of the tremendous increase in workers' compensation benefit payments. In the present volume, h- ever, only four of the fourteen chapters directly concern workers' c- pensation insurance benefits, while the other ten concern the pricing of workers compensation insurance. This is not to suggest that workers' compensation cost increases have abated. In 1989, workers' compensation incurred losses exceeded $45 billion to continue the annual double-digit cost increases. Two explanations can be offered for the somewhat altered focus of this volume. First, despite the continued increase in prices, the financial results for the workers' compensation insurance line continue to be poor.
Download or read book Workers Compensation written by Terry Thomason and published by W.E. Upjohn Institute. This book was released on 2001 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traces trends in workers compensation since 1960, with particular reference to the State of Rhode Island. Addresses effects of deregulation and other changes in insurance pricing arrangements, assesses benefit adequacy vs. affordability, measuring employers' cost, etc.
Download or read book Toward a Safer Workplace written by James Robert Chelius and published by . This book was released on 1996 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Workers Compensation written by United States. General Accounting Office and published by . This book was released on 1986 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Law and Economics of Workers Compensation written by Linda Darling-Hammond and published by . This book was released on 1980 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Workers Compensation written by H. Allan Hunt and published by W.E. Upjohn Institute. This book was released on 2017-05-18 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt: H. Allan Hunt and Marcus Dillender provide a succinct analysis of the state of WC programs in North America by focusing on three key performance issues: 1) the adequacy of compensation for those disabled in the workplace, 2) return-to-work performance for injured workers, and 3) prevention of disabling injury and disease. Following a brief introductory chapter that provides a discussion of the difficulties of trying to compare so many diverse programs, Hunt and Dillender devote a chapter to each of the three performance issues and provide empirical findings and useful guidance for policymakers and researchers as they set their sights on adapting WC for the twenty-first century.
Download or read book In the Matter of the Proposed Revision of Workmen s Compensation Rates Filed by National Council on Compensation Insurance written by Illinois. Department of Insurance and published by . This book was released on 1979 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Incentive Effects of Workers Compensation Insurance written by Alan B. Krueger and published by . This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses Current Population Survey data on a large sample of workers to estimate the determinants of participation in state workers' compensation programs in the United States. The principal finding is Chat higher workers' compensation benefits are associated with greater participation in the workers' compensation program, after accounting for worker characteristics, state fixed effects, and other aspects of the workers' compensation law. Moreover, this result holds for both manufacturing and non-manufacturing workers. Workers' compensation benefits, however, have an insignificant effect on program participation for the sample of women. Overall, a 10% increase in benefits is associated with a 6.7% increase in program participation. In addition, the results show that the waiting period that is required before benefit payments begin has a substantial negative effect on participation in the workers' compensation program. Finally, the parameters of the cross-sectional model are used to simulate the aggregate workers' compensation incidence rate from 1969 to 1987. The growth in workers' compensation claims in the 1970s appears to correspond reasonably well co the growth in real benefits that occurred during this time period.
Download or read book Deregulating Property Casualty Insurance Pricing written by Anthony J. Barkume and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Property and casualty lines of insurance have traditionally been subject to more regulatory price control than most goods in the U.S. economy. However, beginning in the 1970s, some states began to deregulate these lines of insurance, dropping either mandatory pricing in concert by means of rating bureaus or, in addition, dropping regulatory prior approval of premiums. This paper assesses the impact of rate deregulation in workers' compensation insurance. Besides examining the impact of deregulation on price, we examine effects on injury rates, as rate regulation may have reduced incentives for workplace safety by restricting price differences across risk classes. We find that eliminating both rate bureau pricing and prior approval reduced long-run premiums by 13.7 percent and reduced injury rates by at most 8.2 percent. In contrast, eliminating only rating bureau pricing had small effects.
Download or read book Recommendations for Improvements in Texas Workers Compensation Safety and Return to work Programs written by Texas. Research and Oversight Council on Workers' Compensation and published by . This book was released on 2001 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foundations of Casualty Actuarial Science written by and published by . This book was released on 1990 with total page 620 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Workers Compensation Benefits written by John D. Worrall and published by ILR Press. This book was released on 1985 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on the functioning of employment accident benefits in the USA - covers the impact of benefit levels on efficiency, the role of occupational safety and occupational health in occupational choice, claim duration, contingency funds for workers' compensation, etc.; comments on social security legislation concerning minimum weekly compensation benefits; includes behavioural models and cost benefit analysis of investments in employee safety and health. Bibliography, graphs, statistical tables.
Download or read book An Analysis of the Safety Incentive Provided by Experience Rating Under the Workers Compensation Program written by Stephen H. Strand and published by . This book was released on 1980 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Workers Compensation Insurance Rate Regulation Study written by and published by . This book was released on 1982 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book California s Volatile Workers Compensation Insurance Market written by Lloyd S. Dixon and published by RAND Corporation. This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since partial deregulation of insurance rates in 1995, the California workers' compensation insurance market has been very volatile. For reasons that go beyond price deregulation, there have been dramatic swings in insurers' underwriting profits and the share of coverage written by private insurance carriers, and a substantial number of insurers, including some of the largest market participants, have failed. The price that California employers have paid for workers' compensation insurance has been volatile since 1995 as well, continuing the considerable variation that occurred in earlier years. This book identifies and examines factors that contributed to the market volatility and the large number of insolvencies following price deregulation. It also examines the regulatory system that oversees the workers' compensation market and how the California Department of Insurance responded to the market turmoil that followed the move to open rating. It makes recommendations that aim to reduce market volatility and the frequency of insolvencies while realizing the benefits of a competitive market.
