Several impactful workers’ comp changes will affect how you report your claims. Stay informed on these key updates and how they will impact you.
- FROI/SROI Release 3.1: States that move to release 3.1 will collect significantly more data than prior releases. This data will provide the States with more detail of injuries and reporting accuracy.
- Decimal Extensions: Expansion improves pricing precision and ensures more accurate reporting and responsiveness, especially for classification codes with low “lost cost” values.
- Indemnity Data Call: Six new data are being added to the Indemnity Data Call quarterly record which will assist data collection organization with pricing, research, and analysis.
- Medical Data Call: Expanding the medical data call for eligibility threshold participation will assist in rate making, understanding the complexity of medical data, assist in data analysis, and provide more accurate pricing.
In our latest workers’ comp webinars expert Nicholas Guarda, Associate Director, Workers’ Comp Solution, unpacks the upcoming changes, what’s shifting, why it matters, and how it will impact you.
Effective Q4 dates:
October 1:
- NY Decimal Extension
- NCCI Medical Data Call
- Indemnity Data call
November 7:
December 5: