By: Lisa Fuller

Lisa Fuller — Sat, 27 Dec 2014 22:08:19 +0000

This is a joke. Worker’s comp market is competitive? Here is just one example of what’s really happening. Our rural water system has just a few employees. The worker’s comp carrier we’ve used for many years decided last year that they would cancel our coverage because there is a limit to what premium they can charge due to our size. They weren’t making enough money off us, so they dropped us. Our insurance agent tried to find coverage for us elsewhere but NO OTHER COMPANY WOULD WRITE IT. They all wanted us to buy an employee leasing service that would process our payroll and quarterly taxes and would also include the worker’s comp coverage. The cost for this service was 3 times what we’d been paying for worker’s comp insurance. Keep in mind these payroll services are for only 5 employees which takes about 15 minutes per week to do. Quarterly payroll reporting might take 1 hour. Our only other choice was to go to a state underwriting agency which still cost us twice as much as we’d been paying. I fail to see any competitive market here.

By: chris in Molino

chris in Molino — Sat, 27 Dec 2014 15:27:45 +0000

This has got to be the most honest report from the state. No significant barriers for insurers. Market is robust and well capitalized. Reforms will save money for employers (ie; more money for insurers). The reasoning for these numbers is that the injured worker gets shafted. The process is so difficult a worker must get an attorney, who then gets a substantial cut of the meager amount you receive. Loopholes are numerous. Example: You work for a company performing construction on a federal contract at NAS Pensacola. One day another employee smacks you in the head with an excavator because he’s high on drugs while at work. You can prove the company knew this employee used drugs at work, yet you cannot sue the company, only the employee who smacked you. You suffer a head injury and start having seizures yet its an ambigous injury, not like a lost hand. Workers comp doctor says nothing is wrong, the doctor your attorney sent you to says there is. They either offer you a pittance of $20k which doesnt cover medical costs in 2 months or go through over a year of legal wrangling for 66% of your wages best case. You still have seizures 3 years later.
Is this fair ? The workers life is ruined. They take your drivers license. All to make more profit for employers and insurers. This is what “lawmakers” do. This is what the media “doesn’t” report. Why ? Cause its all a big scam.

Comments on: Report Points To Healthy Workers Comp Market

By: Lisa Fuller

By: chris in Molino