I was around for the 1991 reset of the comp system in Texas. The results were amazing. The plaintiff attorneys, injury doctors and claimants fled the system in droves. Claims and premiums dropped by a huge percentage. That lasted for about 4 years. Then those that had played the old system, figured out how to play the new game. Specifically, impairment ratings.
When the Okla law passed, and there was a rush to the opt out option, I told my agent and employer friends to take a deep breath. Why chance the down side of the opt out, when the premiums would fall dramatically due to the reforms.
I don’t see the potential for a return to the bad days in Okla. The only players that have suffered from the reform, are the plaintiff attorneys and injury doctors. Injured workers are still getting benefits.
I was around for the 1991 reset of the comp system in Texas. The results were amazing. The plaintiff attorneys, injury doctors and claimants fled the system in droves. Claims and premiums dropped by a huge percentage. That lasted for about 4 years. Then those that had played the old system, figured out how to play the new game. Specifically, impairment ratings.
When the Okla law passed, and there was a rush to the opt out option, I told my agent and employer friends to take a deep breath. Why chance the down side of the opt out, when the premiums would fall dramatically due to the reforms.
I don’t see the potential for a return to the bad days in Okla. The only players that have suffered from the reform, are the plaintiff attorneys and injury doctors. Injured workers are still getting benefits.