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Calif. Workers’ Comp Losses, Expenses Reach Over $12B

A report issued on Tuesday by the California Workers’ Compensation Institute shows workers’ comp insurers’ loss and expense payments rose to nearly $12.5 billion in 2011, an increase of over $1 billion.

The report, compiled from statistics from the Workers’ Compensation Insurance Rating Bureau, shows that insurers’ medical, indemnity and administrative expenses rose to $12.479 billion in 2011. That’s up from roughly $11.2 billion in 2010, according to the report.

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CDI Gives $32 Million to Fight Workers’ Comp Fraud

The California Department of Insurance will distribute $32 million in grants to district attorneys in California to support efforts to investigate and prosecute workers’ compensation insurance fraud.

Every year, the Fraud Assessment Commission determines the grant funding based on assessments placed on California employers. CDI leads the Workers’ Compensation Grant Review Panel that reviews and makes grant funding recommendations based on multiple criteria including previous year performance based on application submitted by counties

Source- Insurancejournal.com