Sounds like the trial attorneys are taking pre-emptive potshots at the messenger.
I don’t have any direct experience with the NC comp system, but I have looked over various WCRI reports, and can state that they do try to present factual data in the most unbiased way possible. In their multi-state studies, WCRI goes much further than other comparisons to put things on a comparable basis. That’s exactly what you would hope to see from a responsible research organization.
The problem with this study and other studies like it is that many times groups take information that is helpful to their particular position and use it to support that position without looking at the facts in their entirety.
The website of the NC Chamber clearly states that they are pushing for a 500 week limit on total disability benefits. So the position of the reformers is well known. To my knowledge, no bill has been filed as of today. Our legislative session began about 3 weeks ago.
I am concerned about what these injured workers will do if this passes, and they are still disabled at that 500 week cutoff mark. They will have little choice but to rely on the taxpayers for support. SSDI, food stamps, Medicaid and Medicare, etc. will have to fill these gaps. Most of these programs are already strapped for cash, and from the perspective of the taxpayers, it really makes no sense for the insurance industry to shift claims costs to the taxpayers. Of course, this cost shift will engender greater profits for the insurance industry. The Chamber spokesman is not really explaining why reform is needed–one must assume that the Chamber simply wants to cut benefits to workers in the hope that premium rates will go even lower. Of course, additional attention to safety would have the same effect. But it is easier to cut benefits than it is to improve safety, of course.
I am a Florida agent, In 2004 we enacted legislation to reduce benefits and reduce attorney involvement. Our entire industry was behind this push. Now our rates have been cut by 65% and payrolls have been cut in half due to the slow down of the economy.
So my point is this to the North Carolina agents and carriers. If you want your premiums to be cut by 65% and you find yourself with reduction of revenues and commissions to the point that you can not make a living just to stick it too attorneys and the injured workers we think are milking the system. Just remember you will not be able to make a living selling Workers Compensation.
I would recommend you push for higher attorney involvement and higher benefits, which equals higher revenue for the carriers and higher commissions for the agent!
Sounds like the trial attorneys are taking pre-emptive potshots at the messenger.
I don’t have any direct experience with the NC comp system, but I have looked over various WCRI reports, and can state that they do try to present factual data in the most unbiased way possible. In their multi-state studies, WCRI goes much further than other comparisons to put things on a comparable basis. That’s exactly what you would hope to see from a responsible research organization.
The problem with this study and other studies like it is that many times groups take information that is helpful to their particular position and use it to support that position without looking at the facts in their entirety.
The website of the NC Chamber clearly states that they are pushing for a 500 week limit on total disability benefits. So the position of the reformers is well known. To my knowledge, no bill has been filed as of today. Our legislative session began about 3 weeks ago.
I am concerned about what these injured workers will do if this passes, and they are still disabled at that 500 week cutoff mark. They will have little choice but to rely on the taxpayers for support. SSDI, food stamps, Medicaid and Medicare, etc. will have to fill these gaps. Most of these programs are already strapped for cash, and from the perspective of the taxpayers, it really makes no sense for the insurance industry to shift claims costs to the taxpayers. Of course, this cost shift will engender greater profits for the insurance industry. The Chamber spokesman is not really explaining why reform is needed–one must assume that the Chamber simply wants to cut benefits to workers in the hope that premium rates will go even lower. Of course, additional attention to safety would have the same effect. But it is easier to cut benefits than it is to improve safety, of course.
I am a Florida agent, In 2004 we enacted legislation to reduce benefits and reduce attorney involvement. Our entire industry was behind this push. Now our rates have been cut by 65% and payrolls have been cut in half due to the slow down of the economy.
So my point is this to the North Carolina agents and carriers. If you want your premiums to be cut by 65% and you find yourself with reduction of revenues and commissions to the point that you can not make a living just to stick it too attorneys and the injured workers we think are milking the system. Just remember you will not be able to make a living selling Workers Compensation.
I would recommend you push for higher attorney involvement and higher benefits, which equals higher revenue for the carriers and higher commissions for the agent!