Insurance Journal's Academy of Insurance
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A good loss run report can guide a Workers’ Compensation program in developing risk management plans, tracking the results of current risk management efforts, identifying problem areas, and projecting costs.
Just as a balance sheet helps business owners understand the financial strength and capabilities of their company, a good loss run report can guide a Workers’ Compensation program in developing risk management plans, tracking the results of current risk management efforts, identifying problem areas, and projecting costs.Yet, because insurance providers send mountains of paper or the loss run reports lack understandable content, many business owners and managers ignore them, failing to recognize the value they offer as a management tool.This course will help you understand how to review and interpret workers’ compensation loss runs and use the information to develop a safety and risk management plan. Because insurance loss runs are all different, you will gain an understanding as to what the headings and numerous abbreviations mean. In addition, you will learn how insurance company underwriters use loss runs to drive up your premiums and what carrier adjusters may not be telling you. You will also hear how to use a loss run to push the insurance company to better manage a claim and close it more quickly. Understanding the loss run information is a portal to lowering your workers’ compensation expenses.
This class is geared towards agents. Participants in this webinar will: