The U.S. workers’ compensation sector reported a record high $58.5 billion in direct premiums written in 2016 despite economic, regulatory and legal issues that threaten to reshape the market, according to a new A.M. Best special report. Louisiana Comp Blog reached out to local voices to get their take on the report, including why, in this profitable environment, the need for reform remains a constant refrain.
The latest WCAC meeting held at the Department of Insurance in Baton Rouge on September 21st, again put the spotlight on the Broadspire genetic testing issue discussed at the last meeting. This time, a Broadspire representative spoke in response to the Council’s concerns.
Welcome to this month’s edition of Comp Medical News. Spouse hostility, a new Congressional opioid report, and the FDA’s new compounding pharmacy push are your headlines for September 2017.
A new Workers’ Compensation Review Contractor (WCRC) award has been issued by CMS. The new WCRC contract was awarded on September 1st, 2017, to Capitol Bridge, LLC of Arlington, Virginia, a certified small business entity. The contract is worth $60,759,236 – an increase of $5,124,084 from the previous Provider Resources contract awarded in 2011.
LCTA Workers’ Comp (LCTA) announced this week that it is continuing its growth strategy with the acquisition of Risk Management Resources and the creation of a new subsidiary, LCTA Specialty Insurance Company. These announcements come on the heels of its expansion to write business in Mississippi and Arkansas, and its conversion to a casualty insurance company in early 2016.
Hurricane Harvey made landfall on the Texas coast as a Category 4 storm on August 25th with winds of 130 miles per hour and went on to devastate Houston, Beaumont, and parts of Southwestern Louisiana with floodwaters and other damage as the days wore on. Now that the affected areas have switched to recovery mode, we reached out to workers’ compensation insurers based in Louisiana that also write in Texas to ask how they are handling the crisis and if they expect any increase in business due to re-building efforts, as occurred in Louisiana after Hurricanes Katrina and Rita in 2005.
The latest Workers’ Compensation Advisory Council (WCAC) meeting held in Baton Rouge on August 24th, focused mainly on issues of genetic testing and how the Office of Workers’ Compensation (OWC) should address requests for buccal swabs from injured workers.
Sandie Davis, Underwriting Operations Manager for Baton Rouge-based Stonetrust Commercial Insurance Company, is our August “Women in Comp” featured executive. Read on to get Davis’ take on Louisiana’s market conditions, and how she predicts technology may influence the future of the workers’ comp industry.
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) will hold the second of two meetings about Voluntary Protection Programs (VPP) on August 28th, 2017, in New Orleans at the Ernest N. Morial Convention Center.
Welcome to this month’s edition of Comp Medical News. Medical marijuana distribution in Louisiana, chronic pain in the NFL, and opioid use as a factor in low workforce participation are your headlines for August.