Managing Profitability:
It’s Time to Take a Hard Look at the Costs of Doing Business

By Larry Gross, National Account Executive, ISO

In the workers comp market, managing profitability is a challenge that can often make or break companies. It’s always been imperative for insurers to manage both losses and premium growth carefully. But with changing market conditions, it’s becoming increasingly important for insurers to manage other factors affecting their profitability, such as administrative and reporting costs, just as carefully.   » more

Workers Comp Premium Fraud:
Being Alert to Indicators Can Aid Early Detection and Curb Losses

Industry losses from workers compensation fraud are staggering. Experts estimate the amount to be as high as $5 billion each year. They also estimate that, for every $1 lost through claimant fraud, at least $4 to $5 is lost through premium fraud. Though many insurance companies have formal antifraud programs, premium fraud has proven difficult to detect and effectively stop. But are premium fraud losses just another cost of doing business, or can more be done?   » more

Worker Misclassification:
How Much Could You Be Losing to This Deceptive Practice?

For years, unscrupulous employers have avoided paying for workers comp, unemployment, and other payroll-related expenses by intentionally misclassifying workers as independent contractors. With steeply rising medical and workers comp insurance premiums, a tough economy, and little being done to stop this type of fraud effectively, worker misclassification is likely to worsen. But how big a problem could it be? What portion of the workforce is susceptible?   » more

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

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