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Spring Risk Forum Recap – Cannabiz: The Effects of Marijuana on Your Business

Employers today are facing an unusual challenge: Although medical cannabis is now legal in 29 states, including Pennsylvania, it remains illegal under federal law.

Winter Weather Risks: Preventing Workplace Injury and Managing Claims

With the winter months quickly approaching, employers across all industries must prepare for cold weather hazards resulting from freezing temperatures. According to the Bureau of Labor Statistics, nearly 43,000 workplace keep reading >

Three Tips for Safe Patient Handling

A Bureau of Labor Statistics report revealed that across all industries, 33 of 10,000 full time workers suffered from overexertion injuries.

The Cost-Saving – and Safety – Benefits of BIM-Driven Prefabrication

According to JLL’s Construction Outlook, construction spending in 2016 rose 4.5 times higher than 2015 levels. Considering this sharp increase, many construction companies are looking for innovative strategies to reduce keep reading >

Medical Marijuana & Workers Compensation: The Implications of Recent Legislation

As more U.S. states begin to legalize the medical use of marijuana and determine its uses and limitations, employers and insurers will need to understand how to adhere to this legislation considering the potential impacts on workers’ compensation claims.

Florida Regulators Approve 14.5% Workers Compensation Rate Increase

Last month, the rate impact of recent Florida Supreme Court rulings on the state’s workers compensation system was in the hands of regulators, as the Office of Insurance Regulation (OIR) decided on the National Council on Compensation Insurance’s (NCCI) filing seeking a 19.6 percent rate increase.

NLRB Browning-Ferris Decision: How it may Impact Your Business

In late August the National Labor Relations Board (NLRB) issued a decision involving Browning-Ferris Industries of California. According to the official statement on the NLRB’s site: In late August the National Labor Relations Board (NLRB) issued a decision involving Browning-Ferris Industries of California. According to the official statement on the NLRB’s site:
In a 3-2 decision involving Browning-Ferris Industries of California, the National Labor Relations Board refined its standard for determining joint-employer status. The revised standard is designed “to better effectuate the purposes of the Act in the current economic landscape.”

Understanding the NCCI Experience Mod

You might have heard of the term “experience modification factor” in reference to your workers compensation premiums but don’t have a clear idea of what this term means. Don’t worry. You’re not alone. An experience modification factor is a unique rating factor that modifies a company’s workers compensation premiums based on the company’s individual loss experience relative to other employers that are using the same workers compensation class codes. In other words, it’s an actuarially based method for determining if a specific risk’s loss experience is better or worse than average.

The Value of Insurance Loss Data Analytics

Over your company’s lifespan, it is likely that you will change insurance carriers several times. In fact, you might switch insurance carriers five times in a ten year period. These changes can happen for a multitude of reasons including changes in exposures, mergers, company expansions, etc. This can present a challenge when analyzing insurance losses over a 5-10 year period. To overcome this, The Graham Company has developed a proprietary tool to aggregate clients’ loss data from various insurance carriers in an effort to more easily identify loss trends, potential risk factors, and ultimately, to implement tools and procedures to prevent losse

Marijuana Legalization and Workers Compensation Considerations

While drug-free workplace policies put in place for the safety of employees and the general public, and to promote a safe working environment, are an obvious concern, marijuana legalization brings additional Workers Compensation considerations that need to be accounted for, as well.

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