Workers’ Comp Costs Slowly Rising
Workers’ compensation costs are slowly rising, according to the most recent Workers’ Compensation Resources Research Report (WCRRR). The cost of workers’ compensation per $100 of payroll is $1.32 for 2012, the most recent numbers available, up from the historical low of $1.25 in 2010, according to issue 9 of the report released Wednesday. While there […]
Minimum Truckers’ Insurance Limits Could Increase
Since 1985, non-Hazmat truckers have had the same mandatory minimum insurance limit of $750,000. This is despite raising inflation and claims costs. Think about how much insurance you have when taking into account both personal auto and umbrella coverage. Chances are you have more coverage than some truckers on the road. Separate efforts are underway […]
Look Out for Workers’ Comp “Black Swans”
By Robert J. Malooly When early cartographers reached the boundaries of charted territories on their maps, they often inscribed “Here be dragons” into the blank spaces beyond. This fanciful warning warned travelers to prepare for previously undocumented or even imagined dangers. Whether from uncharted reefs or mythical beasts, failing to take unknown hazards seriously could result […]
Insurance Brokers Find Cyber Coverage Complex
While the cyber insurance market is booming, insurance brokers find cyber coverage complex. Customers want to either get a cyber policy for the first time or boost their coverage through higher limits and more endorsements. Insurance companies are very eager to sell various forms of it. But that does not mean buying and selling cyber […]
Tips For a Successful Actuarial Career
The actuarial profession is the best career choice, according to a recent ranking by CareerCast.com. After working with actuarial firms and actuaries for more than 25 years, I am offering my tips for a successful actuarial career. Let’s start by understanding how CareerCast made its determination. The job placement website looks at work environment, including […]
What I Have Learned From My Daughter’s Concussion
When I wrote an article four years ago about football concussions and the impact on workers’ compensation and the related third party lawsuits, I had no idea that my daughter would sustain a concussion that continues to affect her five months later. My daughter joined her high school’s freshman basketball team in November. During practice, […]
Baribeau Offers Cyber Insurance Presentation
Last Tuesday, the Kansas City Actuaries Club honored me with an opportunity to discuss cyber insurance from a journalistic perspective. The presentation included a market update, data breach statistics, underwriting practices, actuarial challenges and emerging cyber risks. I greatly appreciate the Kansas City Actuaries Club for the chance to talk about this important emerging insurance line. […]
Leader’s Edge Feature Offers Digital Marketing Insight and Advice
Question: When there is so much Internet noise, how do you make sure your company stands out? Answer: Digital marketing. As I explain in my recently released Leader’s Edge article, “From Buzz to Bucks,” digital marketing encompasses everything from social media marketing to links, search engine optimization (SEO), video, advertising and other channels. In general, […]
Low Interest Rates Call for Tighter Workers’ Compensation Claim Administration
I am pleased to offer the following guest blog by Robert J. Malooly. Bob has an impressive workers’ compensation resume, which includes being the chair of the Illinois Industrial Commission and the former head of the Washington State workers’ compensation system. He has been a colleague of mine for nearly 20 years and there are few […]
Congress Requires Trucker Safety Study
What is the best way to ensure trucker safety? Should drivers be required to sleep two nights in a row — but end up driving during rush hour — or one night to avoid it? This question has become controversial enough for Congress, through passage of the Cromnibus bill in December, to require the Federal […]
