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Colorado
In May 2005, Pinnacol Assurance mailed $55 million in general dividend checks to 55,000 qualifying businesses – roughly 90 percent of Pinnacol policyholders across Colorado. This is the first time in nearly 23 years Pinnacol has paid a general dividend, which is a portion of our surplus paid to policyholders who earn it through successful safety and claims management practices.
Pinnacol Assurance received 8.55 out of 10 points for overall customer satisfaction in a recent policyholder survey. That is significantly above the insurance industry benchmark of 8.2 and the highest since Pinnacol began the survey in 1997.
Big Brothers Big Sisters of Colorado (BBBS) recently named Pinnacol Assurance its 2004 “Corporate Partner of the Year.” Thirty-nine Pinnacol employees took part in the BBBS school-mentoring program last year, assisting grade school students with homework and serving as role models.
Kentucky
Kentucky Employers' Mutual Insurance is excited to announce that their 2005 annual report, which will be available in Spring 2006, will be released exclusively online in a printable format. Over the past several years, KEMI has been producing a print summary of the annual report for distribution to policyholders, agents, and others while posting the entire report, including the audited financials, online at kemi.com. The organization has gradually reduced the number of hard copy reports distributed, choosing instead to promote usage of the website and cut costs associated with print production and mailing.
Louisiana
For the second year in a row, Louisiana Workers' Compensation Corporation's (LWCC) Board of Directors has declared a dividend and this year will return $15.8 million to qualifying policyholders.
Once again, this dividend is believed to be the largest single dividend ever declared in the state of Louisiana by a workers' compensation insurer, topping the $10 million LWCC returned to policyholders last year.
Individual awards are based upon a calculation taking into account the policyholder's earned premium and a measure of profitability for the individual account for the previous five-year period.
“Thanks to the hard work of our employees, agents and policyholders who understand the importance of a safe and secure work environment, LWCC is able to declare another large dividend,” said Steve Cavanaugh, LWCC’s chief executive officer. “As the industry leader, LWCC supports Louisiana businesses by working to drive down the costs of workers' comp insurance, and we will continue to reward our customers through exceptional service, financial stability and – when it's the financially sound thing to do – dividends.”
LWCC was able to declare the dividend because of its strong financial position, which is a result of operating efficiencies, effective financial management, dedication to workplace safety and good management of claims.
LWCC is a private, nonprofit mutual insurance company. It is the state's largest writer of workers' compensation insurance, covering about 23,000 policyholders and 38.5 percent of the insured market in Louisiana. The company is rated "A" (Excellent) by A.M. Best and was named one of the top 50 property and casualty insurance companies in the nation for the third year in a row by Ward Group, a leading authority on insurance industry benchmarking.
Maine
Donald Hale, CPCU, CLU, has been named chief operating officer for Maine Employers' Mutual subsidiary, MEMIC Indemnity Company. In assuming the new title, Hale will continue to manage underwriting and account marketing for MEMIC Indemnity Company and the parent Maine Employers' Mutual Insurance Company. In that role, Hale is senior vice president for underwriting.
In addition, MEMIC Indemnity Company continues a steady march down the East Coast gaining licenses to write workers' compensation. South Carolina becomes the company's first foray below the Mason Dixon Line. MEMIC Indemnity is now licensed in New Hampshire, Vermont, Massachusetts, Connecticut, New York, Pennsylvania and South Carolina.
MEMIC, University partner on workplace safety initiatives:
MEMIC and the University of Southern Maine have teamed up to help the school make improvements to its workplace safety and health programs. The partnership will provide MEMIC customers with further access to USM's expertise while granting university students practical work experience. Funded and taught by MEMIC, an ergonomic certification program will be added to the University's curriculum this fall. MEMIC also has funded summer internships, which will provide opportunity for a pair of USM students to work on safety projects at the workplaces of two MEMIC customers. Finally, MEMIC has donated a $35,000 lumbar motion monitor that students will use to measure on-the-job muscle stress. The monitor will also be available for MEMIC to use with its customers.
Survey says we're doing better than all right:
MEMIC recently polled its medium and large customers with impressive results. Overall, 94 percent said they are satisfied with MEMIC including 60 percent who reported they are 'very satisfied'. Representatives from independent research firm Market Decisions said such high approval ratings are rare. What did customers like best? The ease of the claims process. Other favorites included reliable follow up, trainings and workshops, the fact that MEMIC is a local company, safety consultations, and its staff.
2004 Comp Summit:
MEMIC's Comp Summit continues to grow in reputation and attendance over the last eight years. The two-day policyholder conference attracts key decision makers, registering 438 policyholder representatives in 2004. The mountains of Bethel, Maine once again offered an ideal setting to get away from it all and talk comp. Attendees rated the value of the meeting an average of 4.4 on a 5-point scale.
Maryland
Beginning June 19, IWIF sponsored a statewide initiative called IWIF’s Safety Saves Week. This year, the theme was Safety Rules for Young Workers. IWIF sponsors Safety Saves Week each year to raise awareness among business owners about the importance of making safety a top priority in the workplace. Efforts to promote Safety Saves Week included radio and television public service announcements and a comprehensive information kit for IWIF policyholders and independent insurance agents.
IWIF recently introduced two new target market programs designed for Building Materials Dealers and the Association for Independent Maryland Schools. Both programs were created to attract competitive business among the groups and offer policyholders either group discounts, scheduled credits or special pricing, as well as group dividends.
The results of the annual IWIF customer service satisfaction survey revealed Maryland’s largest independent insurance agents and brokers gave IWIF a 99 percent overall satisfaction rating for 2004. Similarly, policyholders gave IWIF an 83 percent overall satisfaction rating.
Missouri
Missouri Employers Mutual will drive home the safety message during WorkSAFE Week 2005 June 5-10. The baseball-themed campaign encourages employers and employees to make workplace safety the next American pastime. MEM policyholders will receive a WorkSAFE poster and safety materials to cover with their teams during the week. The public will hear the safety message at ballparks throughout Missouri, in print advertisements and through a media relations campaign. Through a dedicated Loss Prevention staff and special campaigns such as WorkSAFE Week, MEM is helping eliminate injuries. More than 80 percent of MEM’s nearly 18,000 policyholders were injury free in 2004.
Montana
Montana Governor Brian Schweitzer recently appointed four individuals to serve on the Montana State Fund Board of Directors. Jane DeBruycker, Ken Johnson, James Swanson and Lawrence Zanto join newly appointed Chairman Ed Henrich, Mardi Madsen and Derek Scoble to oversee the operations and management of MSF. The Board consists of seven individuals that must meet certain eligibility requirements and serve a 4-year term on a staggered basis. Outgoing members were honored at the last Board meeting for their service on behalf of the citizens of Montana. They include: Chairman Herbert Leuprecht , Mark Cole, Jack Morgenstern and Derek Grewatz.
The Board’s specific responsibilities as provided in law include: Ratemaking, declaration of dividends, approving of an annual strategic business plan, establishing the annual operating budget, determination of appropriate surplus levels and submission of an annual financial report. In addition, the Board retains major independent accounting and actuarial firms to validate the funds' financial position and reserves. The Board also has the responsibility to hire the executive director of MSF.
Dividend - The MSF Board authorized a $5 million dividend payment to over 16,600 policyholders. This is the seventh consecutive year MSF authorized a dividend. “Dividends reward our policyholders who provide a safe workplace for their employees,” said Laurence Hubbard, President/CEO of MSF. “Besides being an added incentive and value to employers who focus on safety, this is money that stays in Montana and is put back to work in our businesses and communities.” Since 1999, over $38 million has been returned to deserving policyholders.
New York
NYSIF Field Services representatives statewide are undergoing comprehensive OSHA “Outreach Training” courses to increase expertise in workplace safety, loss control and OSHA safety requirements. All NYSIF field reps who participate in the four-day, 30-hour course become recognized as OSHA Outreach trained.
Four NYSIF reps, Augusto Bortoloni, Louis Caputo, Russ Fitch and John McCarthy, conducted the training. Each completed a 40-hour OSHA Outreach Trainer program consisting of specific OSHA coursework and a written test qualifying them as OSHA Outreach trainers. They also developed PowerPoint presentations covering general industry safety standards for use by NYSIF field reps. and policyholders.
Governor George E. Pataki appointed C. Scott Bowen, Binghamton University director of Government Relations and Economic Development, to NYSIF’s Board of Commissioners. NYSIF cited Commissioner John F. Carpenter for outstanding service after 10 years on the board and 20 years as chairman of the New York State Construction Industry Safety Group 469.
North Dakota
North Dakota employers, workers and medical providers will all be affected by workers’ compensation legislation enacted by the recently concluded 59th North Dakota Legislative Assembly. The Workforce Safety & Insurance bills signed by Governor John Hoeven will, among other things, provide additional benefits for injured workers, broaden and expand existing safety programs for employers and streamline communications with medical providers.
“I believe this is the most comprehensive workers’ compensation package to come out of a legislative session since the establishment of the Board of Directors in 1997,” said WSI Board Chair Bob Indvik. Today (May 12, 2005) the WSI Board of Directors held its first meeting since the session ended and reviewed the new laws, most of which go into effect on August 1, 2005.
To read the key injury provisions of the new legislation, click here.
Oklahoma
CompSource Oklahoma received a commendation from Oklahoma Governor Brad Henry at the state capitol on May 5, 2005 for a newly implemented check processing system. The new system cuts production and mailing costs in half by combining the Explanation of Benefits and check into one document. Multiple invoices for one recipient can also be combined into one check instead of preparing individual checks for each invoice.
CompSource’s recent consolidation of all employees under one roof has provided tangible benefits to CompSource customers with a dedicated visitor service area where CompSource employees can meet and work one-on-one with policyholders or agents minus any distractions. It provides convenience for CompSource customers to meet with their claims adjuster and their underwriter during the same visit. Previously, those departments were housed in two separate locations.
Pennsylvania
SWIF is in the process of finalizing the conversion of its insurance hard terminal system (PICS) to a PC Windows/Oracle based system (PowerComp) with a “GO-LIVE” date of June 1st. Major tasks completed include core development, system testing, hardware procurement/setup, and end user training. Major tasks in progress include: data conversion testing, the repair of defects generated through user acceptance and data conversion testing, accounting reports verification, training of users, implementation planning, and post go-live planning. Pre go-live tasks include completion of all testing, final implementation planning, and scheduling. Go-live tasks include a final data conversion run and verification followed by deployment to server and desktops. Post go-live tasks will include help desk support, production support, and emergency fixes if required. A post go-live release schedule will also include priority enhancements to PowerComp, reports, interfaces, and documents.
Texas
On June 1, Texas Governor Rick Perry signed House Bill 7, which makes major changes to the state's workers' compensation system. House Bill 7 is designed to improve access to and the quality of health care for injured workers, control costs for employers, and increase system efficiency for all stakeholders. Health care provider networks are a key feature of the bill. House Bill 7 allows insurance carriers to establish or contract with certified medical networks, and employers may choose to participate in the networks or not. Injured workers who work for employers that participate in networks must select their treating doctor from a list of network doctors. Networks may apply for certification beginning January 1, 2006.
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