Download or read book The Impact of Insurance Pricing Deregulation on the Employers Costs of Workers Compensation Insurance written by Timothy P. Schmidle and published by . This book was released on 1994 with total page 820 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 Pricing written by David Appel and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 The Employer s Cost of Worker s Compensation Insurance written by Alan Bennett Krueger and published by . This book was released on 1989 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents estimates of the average cost of the workers' compensation insurance program for a homogeneous group of employers by state. These estimates are of interest because they reflect the operation, direct nominal costs, and efficiency of workers' compensation. The paper estimates cost equations for a variety of alternative specifications. The main finding is that when cost equations are estimated by ordinary least squares there is a unit elasticity of costs with respect to benefits, but instrumental variable estimates of the effect of benefits yield a greater than unit elasticity. The results also indicate that the presence of a state insurance fund is associated with higher average costs to employers, all else equal. Finally, we explore the impact that the minimum standards recommended by the National Commission on State Workmen's Compensation Laws would have on workers' compensation costs.
Download or read book The Employers Cost of Workers Conpensation Insurance written by John F. Burton (Jr) and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents estimates of the average cost of the workers' compensation insurance program for a homogeneous group of employers by state. These estimates are of interest because they reflect the operation, direct nominal costs, and efficiency of workers' compensation. The paper estimates cost equations for a variety of alternative specifications. The main finding is that when cost equations are estimated by ordinary least squares there is a unit elasticity of costs with respect to benefits, but instrumental variable estimates of the effect of benefits yield a greater than unit elasticity. The results also indicate that the presence of a state insurance fund is associated with higher average costs to employers, all else equal. Finally, we explore the impact that the minimum standards recommended by the National Commission on State Workmen's Compensation Laws would have on workers' compensation costs.
Download or read book The Employer s Cost of Worker s Compensation Insurance written by Alan Bennett Krueger and published by . This book was released on 1989 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Employers Costs of Workers Compensation Insurance written by Alan B. Krueger and published by . This book was released on 1988 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Incidence of Mandated Employer provided Insurance written by Jonathan Gruber and published by . This book was released on 1990 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Workers' compensation insurance provides cash payments and medical benefits to workers who incur a work-related injury or illness. Many features of the workers' compensation program parallel features of proposed mandated employer-paid health insurance plans. This paper empirically examines the incidence of the workers' compensation program to infer the likely consequences of mandated health insurance proposals. In certain industries, such as trucking and carpentry, workers' compensation insurance costs are quite large, and vary tremendously within states over time, and across states at a moment in time. This variation is used to identify the incidence of the program. Empirical analysis of two data sets suggest that changes in employers' costs of workers' compensation insurance are largely shifted to employees in the form of lower wages. In addition, higher insurance costs are found to have a negative but statistically insignificant effect on employment. The implied elasticity of labor demand from our results is about -.50.
Download or read book The employers costs of workers compensation insurance written by Alan B. Krueger and published by . This book was released on 1989 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An Analysis of the Cost of Workers Compensation to Employees written by Alan B. Krueger and published by . This book was released on 1983 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Benefits Costs and Cycles in Workers Compensation written by Philip S. Borba and published by Springer. This book was released on 2011-11-04 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Workers' compensation insurance presents a set of institutional charac teristics that are unique. For every other form of insurance, both the insurer and the coverage provided under the policy are completely controlled either by the federal or a state government, or by an arrangement between the insured and a property-casualty insurer. Unemployment insurance, Social Security, and bank-deposit insurance are examples for which a legis lative body sets the benefits. and a government agency prescribes the in surance premium. By contrast, the coverage and premiums for automobile, homeowners, and fire insurance are individual contractual arrangements between a policyholder and one of the more than 1800 U. S. property casualty insurance companies. Workers' compensation insurance, however, is a hybrid in which state legislatures stipulate the terms of coverage, while regulated competition is the major determinant of prices. State legislatures enact statutes that prescribe the replacement rate and duration of indemnity benefits, as well as full reimbursement of medical expenses. And although the manual rates for workers' compensation insurance continue to be administered by a prior approval process in most states, the competitive-market price for coverage is achieved through a variety of price-modification plans (Appel and Borba, 1988).
Download or read book Workers Compensation written by Morley Gunderson and published by University of Toronto Press. This book was released on 2000-01-01 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Topics covered include low back pain in workers' compensation, payroll taxes, unfunded liabilities, occupational health and safety, private participation, the cost, appeals litigation.
Download or read book The Effects of Provider Choice Policies on Workers Compensation Costs written by David Neumark and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the effects of provider choice policies on workers' compensation medical and indemnity costs. We find no difference in average medical costs between states where policies give employers control over the choice of provider and states where policies instead give workers the most control. But a richer distributional analysis indicates that developed medical costs for the costliest cases are higher in states where policies give workers more control over provider choice. We find similar evidence for indemnity costs, although the point estimates also indicate (statistically insignificantly) higher average costs where policy gives workers the most control over provider choice. Overall, the evidence suggests little relationship between provider choice policies and average medical or indemnity costs, but a higher incidence of high-cost cases when policies give workers more control of the choice of provider.
