Brisk winds close Trofeo Princesa Sofia:
Palma, Spain (April 1, 2017) – A mix of established Rio Olympic campaigners and emerging young talent shared the top podium spots when the 48th Trofeo Princesa Sofia IBEROSTAR ended today with a brisk 25kts Mistral offshore wind which brought the 646 boat regatta to spectacular, challenging finale.
While it is the first major Olympic classes regatta victories for the up and coming winners of the 49er class, for the triumphant Men’s 470 pair, the Laser Radial, the men’s RS:X, the outright winner of the Princesa Sofia Trophy is 2012 Olympic bronze medallist Zofia Noceti-Klepacka.
“I am so happy to win the overall trophy,” said Klepacka. “I have been he…
Full Article: Scuttlebutt Sailing News – Brisk winds close Trofeo Princesa Sofia, Editor
Rule Change for Volvo Ocean Race:
(April 1, 2017) – Volvo Ocean Race teams will have to crowdsource key navigation decisions from gamers and social media fans, following a groundbreaking rule change for 2017-18 introduced by the race’s new eSports director, Daisy Pallorof.
Scuttlebutt Sailing News – Rule Change for Volvo Ocean Race, Editor
I can guarantee that if you set down ten adjusters/supervisors in a room, give them the facts on a Workers Compensation file, you will receive a spectrum of reserve levels. Why?
One thing to point out early in this post is that setting reserves on any Workers Comp file is an art unto itself. I have seen software packages that will set the reserves for adjusters – SOME OF THEM WITHOUT AN OVERRIDE FUNCTION. You can add the software package to the spectrum of reserve levels in the room of claims adjusters and supervisors.
One caveat is that the expectation of accurate reserves at the start of a Workers Compensation file is not valid. The reserves that are placed on a file in the first 60 days are just not that accurate as the file has not had the time to mature and develop. Please note that in our file reviews we often see the reserves left unchanged throughout the life of the file after the 60 day initial reserve.
The other side of the coin is that if a company keeps reminding the adjuster to check the reserves on a file, the adjuster may analyze the file for an increase. Knowing which files to review with an adjuster and at what is the best time to review the reserves is crucial. As I have posted many times, your file reserves feed directly into your Experience Modification Factor (E-Mod).
I will not leave the self insureds out on this one. For budgeting purposes, your self-insured program should have Loss Development Factors (LDF’s) promulgated every year. If you do not, you are throwing away $ $ $ . The reserves on your self insured Workers Comp files feed directly into the LDF just like the E-Mod. LDF’s can make or break a Risk Manager’s budgeting process.
Bottom Line – What is a Risk Manager or CFO or Company Owner or other person handling the Workers Comp to do about reserving?
From the blog http://blogs.cutcompcosts.com written by James J Moore, Principal of J&L Risk Management Consultants, Inc, the leader in Cutting Work Comp Costs.