News Bulletins

In local news:

Louisiana Gov. John Bel Edwards and other officials say manufacturer VEGA Americas Inc. plans to build a $22 million plant in Ascension Parish. News outlets report officials said Tuesday that the 10,000-square-foot Geismar plant is expected to create about 120 full-time jobs. VEGA Americas Inc. is part of a German company that makes custom equipment to measure pressure, level and density of materials inside industrial pipes and vessels.

Read more here.

In industry news:

NCCI released a new Insights report on the impact of fee schedule updates on physician payments. NCCI found that approximately 80 percent of any change in the limit of a procedure code will carry through as a change in prices paid, and that out-of-network service payments are more responsive to fee schedule changes than in-network.

Read more here.

In industry news:

Medcor, Inc. recently announced a new telemedicine service developed specifically for work-related injuries. Medcor Telemed™ will be available 24/7 in all 50 states, beginning January 14th, 2019. This new service enhances Medcor’s existing injury triage service, already in use by more than 309,000 worksites, and will augment Medcor’s 240+ onsite and mobile clinics.

Read more here.

Upcoming events:

  • IIABR Installation luncheon 1/17 (Register)
  • Louisiana Comp Blog Comp in Focus luncheon 1/22 (Register)

In neighboring news:

The Texas Division of Workers’ Compensation has adopted an amendment that will allow the spouses of first responders to remain eligible for death benefits for life after remarrying. The benefits apply if a first responder died as a result of an injury in the course and scope of employment or while providing services as a volunteer, regardless of the date on which the death of the first responder occurred. The change to §408.183 applies only to eligible spouses who remarried on or after September 1st, 2017.

Read more here.

In industry news:

MedRisk released its 2018 Industry Trends Report on Physical Medicine and Workers’ Comp. The report shows that while workers’ compensation claims frequency and occupational injury rates have declined over the past few years, the number of claims involving physical and/or occupational therapy rose by 13 percent.

Read more here.

In economic news:

Total nonfarm payroll employment increased by 155,000 in November 2018, according to new Bureau of Labor Statistics numbers. Over the November 2017 to November 2018 period, employment increased by 2,443,000, or 1.7 percent. Professional and business services and education and health services had the most significant gains.

Read more here.

Upcoming events:

  • OSHA refineries safety classes in Gonzales 12/13 (Register)
  • IIAGNO Past President’s luncheon 12/13 (Register)
  • IIABR Installation Luncheon 1/17 (Register)

In national news:

The NAIC released the Report on Profitability by Line by State in 2017 today. The report estimates and allocates profitability in property/casualty (P/C) insurance by state and line of insurance. It includes aggregate data from annual statement exhibits to develop estimates of the profits on earned premium and the return on net worth by line and by state. Relevant data for Louisiana workers’ comp is on page 129.

Read more here.

In national news:

The latest Willis Towers Watson Commercial Lines Insurance Pricing Survey (CLIPS) reveals that workers’ comp is still the only line showing continued price reductions in the commercial space.

Read more here.