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Paperwork’s A Nag, Doctors SaySAN JOSE – Most doctors say that physicians’ morale has declined in the past five years, according to a report in the Silicon Valley Business Journal. The Kaiser Family Foundation surveyed a random sample of 2,608 physicians throughout the country and found that 87 percent perceive a drop in their colleagues’ morale, and six out of every 10 admit their own enthusiasm for practicing medicine has dropped as well. Four of every 10 would not recommend medical practice to a young person today. Respondents indicated the worst aspect of the profession is the amount of time doctors have to spend on administration and paperwork as opposed to patient care.
Legislators Lust for Comp FundsDOWNERS GROVE, Ill – A number of states facing shortfalls in their operating budgets are turning to their workers’ compensation systems for bailouts, the Alliance of American Insurers complained. Recent examples include a legislative move in Nebraska to transfer $4 million from the state’s Compensation Court Cash Fund. Minnesota’s legislature also voted in early spring to transfer $95 million from the assigned risk residual fund and $230 million from the second injury fund, according to National Underwriter, and two months later voted to take another $14 million and $20 million from the two funds, respectively. Montana, Colorado, Maryland and New Jersey are also reportedly contemplating such measures.
White-Collar Claims More CostlySAN FRANCISCO – The average costs for workers’ compensation claims filed by professional and clerical workers are more expensive than those filed in other industries, according to the California Workers’ Compensation Institute (CWCI). The CWCI studied 2.1 million claims filed in California between 1993 and 2000, of which 350,000 involved professional and clerical workers. Business Insurance noted that in 1997, for instance, indemnity and medical payments for such workers averaged $8,657 one year after injury and $21, 762 after two years, compared to $8,365 and $20,247, respectively, for all other industries.
NCCI: 2001 Not A Good YearBOCA RATON – Not surprisingly, NCCI Holdings, Inc. announced that the combined ratio for the workers’ compensation market deteriorated for the sixth consecutive year during 2001. The combined ratio reached 121 percent, an increase of three points over the 118 percent in 2000. But even though industry observers had expected the 9/11 attacks to have a severe impact on the market, NCCI reported that less than 2 percentage points – or $500 million – of the Calendar Year 2001 combined ratio on a net basis is attributable to the terrorist attacks. As additional claims such as respiratory diseases and stress become more certain, the ultimate impact of 9/11 will probably change. NCCI also reported that in 2001:
White House Neighbors See Premium Hikes, Non-RenewalsWASHINGTON – Businesses located near the White House are seeing significant increases in their insurance premiums due to the threat of terror attacks since 9/11, reported the Washington Times. The International Economic Development Council, whose office is a little more than a block from the White House, received notice from its workers’ compensation carrier that its policy would not be renewed. A nearby law firm was informed its policies henceforth would contain exclusions of war and terrorism, the paper reported. “Obviously, proximity to the White House would raise issues,” said a senior insurance executive.
Injured Kids Not CoveredNEW YORK – Most newspapers fail to provide workers’ compensation coverage for the children who deliver papers to subscribers’ homes, reported the Wall Street Journal. Download complete newsletter in PDF format
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