The Effects of Workers' Compensation Premium Fraud on the Insurance Industry PDF Download
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Author: Ginger Argot
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 120
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Book Description
"Only in America can you steal more money with a ballpoint pen than with a gun" (Insurance Services Office, Inc [ISO], 2009, p. 3). Workers' compensation cases fill newspaper and television headlines. Workers' compensation fraud brings to mind dishonest employees who fake or exaggerate injuries: the employee who claims a severe back injury limits his or her mobility but performs intense yard work at his or her home. The truth is another type of workers' compensation fraud exists that can cause much higher losses. Estimates claim that for every dollar lost because of claimant fraud, four to five dollars are lost due to premium fraud (ISO, 2009, p. 3).Workers' compensation premium fraud is a costly problem that does not receive the attention it deserves. Workers' compensation claimant fraud causes smaller losses to insurance companies, when compared to premium fraud, yet claimant fraud remains the focus of insurance companies, states, and employers. This project demonstrates the severity and pervasiveness of premium fraud and the necessity for a solution. States, insurance companies, employers and employees can all take action that will reduce premium fraud.
Author: Ginger Argot
Publisher:
ISBN:
Category : Electronic dissertations
Languages : en
Pages : 120
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Book Description
"Only in America can you steal more money with a ballpoint pen than with a gun" (Insurance Services Office, Inc [ISO], 2009, p. 3). Workers' compensation cases fill newspaper and television headlines. Workers' compensation fraud brings to mind dishonest employees who fake or exaggerate injuries: the employee who claims a severe back injury limits his or her mobility but performs intense yard work at his or her home. The truth is another type of workers' compensation fraud exists that can cause much higher losses. Estimates claim that for every dollar lost because of claimant fraud, four to five dollars are lost due to premium fraud (ISO, 2009, p. 3).Workers' compensation premium fraud is a costly problem that does not receive the attention it deserves. Workers' compensation claimant fraud causes smaller losses to insurance companies, when compared to premium fraud, yet claimant fraud remains the focus of insurance companies, states, and employers. This project demonstrates the severity and pervasiveness of premium fraud and the necessity for a solution. States, insurance companies, employers and employees can all take action that will reduce premium fraud.
Author: Brian Zaidman
Publisher: DIANE Publishing
ISBN: 9780788105722
Category :
Languages : en
Pages : 86
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Book Description
Includes: current situation in Minnesota, a proposed administrative system, proposed statutory language, etc. Appendices contain: proposed rules, questionnaires, notices & forms, & more. Brief section on national efforts to combat fraud.
Author: Shelley A. Criss
Publisher:
ISBN:
Category : Commercial crimes
Languages : en
Pages : 120
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Book Description
Workers' Compensation fraud like most insurance frauds effects everyone in the distribution chain. In response to fraud, insurance companies raise premiums, businesses raise prices and the consumer suffers by paying the higher price on goods and services. Unfortunately, workers that find themselves in financial difficulty rationalize reasons for committing workers' compensation fraud. The rise in workers' compensation fraud has cost the insurance industry billions of dollars annually. To prevent this type of fraud New York State legislatures have incorporated investigative agencies to conduct oversight and imposed stiffer penalties for offenders who are caught committing workers' compensation fraud. Additionally, private insurers must establish special investigative units to look into suspected cases of fraudulent activity. These are examples of some measures that have produced noticeable reductions in fraudulent workers' compensation fraud claims. However, as fraudsters create ways to feign injuries and illnesses other methods of prevention and detection must be employed to continue mitigating fraud. This study focuses on the history of the workers' compensation system, types of workers' compensation frauds, challenges facing the insurance industry as well as possible solutions. Further research should be conducted to identify weaknesses in the system and possible solutions to limit and if possible eliminate fraudulent activity.
Author:
Publisher:
ISBN:
Category : Fraud
Languages : en
Pages : 44
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Book Description
Author: New York (State). Insurance Department
Publisher:
ISBN:
Category : Insurance crimes
Languages : en
Pages : 58
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Book Description
Author: Coalition Against Insurance Fraud. Workers Compensation Task Force
Publisher:
ISBN:
Category : Fraud
Languages : en
Pages :
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Book Description
Author:
Publisher:
ISBN:
Category : Employee fringe benefits
Languages : en
Pages : 276
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Book Description
Author: Keith Wertz
Publisher: CRC Press
ISBN: 1420032984
Category : Technology & Engineering
Languages : en
Pages : 311
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Book Description
Workers' compensation causes headaches throughout all levels of an organization. Injuries affect production, costs, and morale. Managing Workers' Compensation: A Guide to Injury Reduction and Effective Claim Management lays out - in logical order - management and safety procedures that reduce injuries and the aggravation that follows. The authors cover hiring, training, and managing employees with injury avoidance in mind. They provide a blueprint for dealing with injured employees and their families, and for determining the correct time for the employee to return to work. The book discusses the all-important issues of fraud, modified duty, substance abuse testing and accident investigations. It also provides guidance for managing your organization's safety efforts in a manner that targets workers' compensation cost control as one of its major objectives. In addition to comprehensive coverage of workers' compensation, the book gives you a thorough explanation of additional sources of assistance, including the availability and utility of Internet safety resources, a complete listing of state workers' compensation agencies, and sample checklists that help you evaluate your workplace. Although workers' compensation laws vary from state-to-state, the principles behind the system and the ability of employers to influence their own premiums remain consistent. By gaining a thorough understanding of these principles and implementing proven cost control strategies, you can realize substantial savings. Managing Workers' Compensation: A Guide to Injury Reduction and Effective Claim Management explains the process by which premiums are calculated and shows how you can impact - favorably - the amount your organization pays in premiums.
Author: Bevans
Publisher: Cengage Learning
ISBN: 9781418018290
Category : Workers' compensation
Languages : en
Pages : 317
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Book Description
Workersa Compensation Law provides an in-depth look at the day-to-day practice of this field while addressing theoretical aspects that form a critical foundation for this branch of law. Reviews how a worker's compensation case begins and explains activities involved in those cases, such as drafting petitions, presenting cases to an administrative law judge, and bringing an appeal. The theoretical basis of the material is laid out in easy to understand and enjoyable format reinforced with practical real-life examples. Although written with paralegal-specific information, the content includes information vital to anyone dealing with Workersa Compensation issues.
Author: J. Paul Leigh
Publisher: University of Michigan Press
ISBN: 9780472110810
Category : Business & Economics
Languages : en
Pages : 332
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Book Description
As the debate over health care reform continues, costs have become a critical measure in the many plans and proposals to come before us. Knowing costs is important because it allows comparisons across such disparate health conditions as AIDS, Alzheimer's disease, heart disease, and cancer. This book presents the results of a major study estimating the large and largely overlooked costs of occupational injury and illness--costs as large as those for cancer and over four times the costs of AIDS. The incidence and mortality of occupational injury and illness were assessed by reviewing data from national surveys and applied an attributable-risk-proportion method. Costs were assessed using the human capital method that decomposes costs into direct categories such as medical costs and insurance administration expenses, as well as indirect categories such as lost earnings and lost fringe benefits. The total is estimated to be $155 billion and is likely to be low as it does not include costs associated with pain and suffering or of home care provided by family members. Invaluable as an aid in the analysis of policy issues, Costs of Occupational Injuryand Illness will serve as a resource and reference for economists, policy analysts, public health researchers, insurance administrators, labor unions and labor lawyers, benefits managers, and environmental scientists, among others. J. Paul Leigh is Professor in the School of Medicine, Department of Epidemiology and Preventive Medicine, University of California, Davis. Stephen Markowitz, M.D., is Professor in the Department of Community Health and Social Medicine, City University of New York Medical School. Marianne Fahs is Director of the Health Policy Research Center, Milano Graduate School of Management and Urban Policy, New School University. Philip Landrigan, M.D., is Wise Professor and Chair of the Department of Community Medicine, Mount Sinai Medical Center, New York.
