Assessing Catastrophic Exposures in Workers Compensation Insurance

By Art Cadorine, ACAS, Vice President, ISO

Before the terrorist attack on September 11, 2001, carriers basically wrote and priced workers compensation business without much consideration for catastrophe exposure. One of the harsh realities brought to light by the attack was that insurers can be highly exposed to catastrophic financial loss from concentrations of exposure across many lines of insurance — including workers compensation.  » more

New York DOI Report Recommends Expanding Data Collection

In a recently issued report, the New York State Department of Insurance recommended centralizing its workers comp data in a comprehensive data warehouse and instituting new requirements in the collection of workers comp data, including detailed medical and financial information. What will that mean for you?  » more

The Difference Is In the Detail
Reducing inadequate workers comp exposure estimates

Poorly developed exposure estimates related to new business underwriting can have harmful consequences, including a negative perception towards the carrier and a costly effect on policy retention. Unfortunately, agents and underwriters often use inadequate or incorrectly classified exposure estimates on new business. And, typically, the inadequacy of the estimates isn’t discovered until the carrier performs a premium audit following the initial policy period. What can you do to reduce the frequency of inadequate exposure estimates on new business?  » more

Arthur Cadorine, ACAS
Vice President
ISO’s Workers Compensation Information Services

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