Workers’ Comp: Save Time, Hassle, and Money by Keeping Track of Your Reserves

Workers’ Comp Webinar Recording

Many employers have only a vague idea of what workers’ comp reserves– the insurance adjuster’s best guess as to what a given claim will cost – are. They don’t trouble themselves with them too much, figuring that this is one of those things the insurer handles.

But this is one case where ignorance is definitely not bliss. Ignoring your reserve amounts can cost you big in terms of time, money, and hassle.At best, reserves are estimates that can vary wildly – a much larger dollar amount than necessary may be attached to one of your open claims right now.

Even worse, claims you thought were closed are sometimes re-opened by adjusters – who never bother to tell you this – landing you back on the hook for costly new surgeries or treatmentsthat have almost no bearing on the original claim.

But smart management of your reserve amounts can help you avoid these potentially damaging problems – and it’s simpler than you might think. Join us for an in-depth conference on what reserves are, how they affect your bottom-line costs, and how to monitor them effectively.

You and your colleagues will learn:

• What you need to know about the reserves process, and how to keep track of what’s going on
• How often, at a minimum, you should review your reserves
• When you need to remind the adjuster to check the reserves on a file
• How your file reserves feed directly into your Experience Modification Factor (E-Mod)
• How a self-insured program is affected
• Why Loss Development Factors (LDFs) are crucial to your bottom line
• The biggest mistake many employers make with respect to the management of their reserve amounts – and how to avoid it

This webinar was recorded on Tuesday, December 20, 2011

Workers’ Comp: Save Time, Hassle, and Money by Keeping Track of Your Reserves

About Your Speaker:

Cathy Divodi is owner and claims consultant for Artemis Claims Consulting, located in Santa Rosa, California. Divodi’s expertise is in workers’ compensation for insured and self-insured employers. She reviews claim reserves and analyzes losses, negotiates reserve reductions, and conducts claim audits for employers. Divodi offers training on reporting workers’ compensation claims, early return-to-work programs, abuse/fraud, and first aid.