Workers Compensation Reserve Uncertainty

2017

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2007

Page 1. LTBS Workers Compensation Research Quantitative Report for Phase 1 For the WorkCover Tasmania Board School of Sociology and Social Work University of Tasmania June 2008 Assoc. Prof Douglas Ezzy Dr Maggie Walter Dr Allan Welch Page 2.

2006

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American Journal of Industrial Medicine, 2012

Background Workers compensation (WC) does not fully compensate workplace injuries and illnesses. This work examines whether cost shifting occurs to group health insurance for work-related injuries and illnesses. Methods Thomson Reuters MarketScan databases of medical insurance claims were used. WC and other benefit system data, employee status and types of medical insurance coverage were also available. Medical cost was analyzed using two-part models: the first part modeled the monthly probability of a worker having any group health medical claims, and the second part modeled the total monthly cost of those medical claims. Models included an estimate of a worker's annual medical costs prior to a WC claim. The predicted monthly medical costs were derived by retransformation using Duan's smearing factor. Results Individuals with prior WC claims were more likely to file a group health medical claim compared to those with no prior WC claims (OR ¼ 1.25) and incurred a higher average monthly medical costs (among nonunion hourly men aged 18-34

Journal of Occupational & Environmental Medicine, 2020

Journal of Risk and Insurance, 2009

This article investigates incentives of insurance firm managers to manipulate loss reserves in order to maximize their compensation. We find that managers who receive bonuses that are likely capped or no bonuses tend to overreserve for current-year incurred losses. However, managers who receive bonuses that are likely not capped tend to under-reserve for current-year incurred losses. We also find that managers who exercise stock options tend to under-reserve in the current period.

2004

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The Review of Economics and Statistics, 1987

Using the 1977 Quality of Employment Survey in conjunction with BLS risk series and state workers' compensation benefit formulas, the authors assess the labor market implications of workers' compensation. Higher levels of workers' compensation benefits reduce wage levels, and controlling for workers' compensation raises estimates of compensating differentials for risk. The rate of trade-off between wages and workers' compensation suggests that benefit levels provide suboptimal levels of income insurance, abstracting from moral hazard considerations. The value of nonmonetary losses from job injuries (including pain and suffering and nonwork disability

Creighton L. Rev., 1994

With the passage of Legislative Bill 757 ("L.B. 757") in 1993, the law of workers' compensation in Nebraska saw some dramatic alterations. Effective January 1, 1994, L.B. 757 brought changes in Nebraska's workers' compensation law regarding physician choice, the independent medical examiner system, vocational rehabilitation, lump sum settlements and the maximum weekly benefit. Entirely new law was additionally forged, providing for managed care plans, informal dispute resolution and safety committees. With L.B. 757 also came questions of the constitutionality of some of its provisions. This article compares the law of workers' compensation in Nebraska prior to the passage of L.B. 757 with the new law and changes in the Rules of Procedure of the Nebraska Workers' Compensation Court. A discussion will also be presented regarding the states from which L.B. 757 and Nebraska's rules were patterned. Finally, the constitutionality of specific provisions of L.B. 757 will be addressed.

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