CO Bill to Change Insurance Standards

• A bill recently passed the Colorado State Appropriations Committee changes the way state employees are covered by workers’ comp.
• According to a summary of the bill, introduced by Senator Nick Hinrichsen, it removes the state’s ability to elect for self insurance for the state employees workers’ comp account. It leaves intact the ability of the state to procure commercial workers’ comp insurance.
• Furthermore, SB 149 prohibits the state from suggesting or requiring an employee to resign when dealing with a workers’ comp claim. The state is also also prohibited from telling the employee not to seek future employment.
• SB 149 is on its second reading on the senate floor.
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Texas Insurance Companies Update Standards

• The Lone Star State requires workers’ comp companies to meet new standards to do business in the state.
• According to the latest code updates, a worker’ comp insurer must provide a detailed accident prevention plan to the Division of Workers’ Compensation.
• Carriers must, by law, include on the cover of every policy, a notice that it provides accident prevention services to its policy holders.
• Accident prevention services for policy holders must contain information that is helpful to the specific industries they insure. This includes surveys, training programs, and the employment of qualified personnel, among other requirements.
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Index: Workers’ Comp Renewals Down

• All commercial commercial renewal rates in Q1 2024 are up with the exception of workers’ compensation, according to the Ivans Index.
• According the to index, workers comp rate premium renewal rate is -0.88% in Q1 2024 were down from Q4 2023 at -0.64%.
• The reached its highest renewal rate in February at -0.40%.
• Commercial Auto, BOP, General Liability, Umbrella, and Commercial Property all went up in Q1 2024.
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Oil Fields and W/C Challenges

• Because of its vast oil wealth, North Dakota has its fair share of accidents including vehicle accidents, explosions, and exposure to hazardous materials.
• 39 fatalities were recorded in the oil fields in the 2019-2020 time frame out of 470, according to the Centers for Disease Control. A recent explosion resulting in serious injuries, occurred in Williston, ND.
• First take care of the injuries, but workers injured on the job need to immediately report the claim to the North Dakota Workplace & Insurance. North Dakota is a no fault state, which means all benefits are covered by the employer.
• There is no need to file suit with any other lawyer, but a worker may need to retain a workers’ comp attorney to navigate the maze of regulations.
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