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The insurance industry's Workers' Compensation Insurance Rating Bureau has released its annual "State of the System" report.
It's a lot of words.
Premiums are lower. The number of filed claims is lower. But the "frictional" costs caused by IMR and IBR are higher.
What's missing in all the words is the truth - the insurance industry fueled the increase in their frictional costs when THEY wrote the IMR provisions in SB 863.
When CAAA told them (and everyone else) that their IMR scheme would end up increasing costs, they marginalized us and dismissed what we told them.
Their absolute control over the medical treatment review process has proved to be costly. It has delayed medical care for workers, increased TD duration and caused frictional costs to skyrocket to their highest levels in history.
Such a deal... that was good for nothing .
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