Book Your Ticket: Here’s What You Can’t Miss at NWCDC

Medical marijuana, the raging opioid epidemic and the proliferation of technology are just some of the topics NWCDC will cover this year.

By: Courtney DuChene | October 8, 2019

From medical marijuana and the opioid epidemic to how to better integrate technology within the industry and the effectiveness of claims advocacy approaches, there’s a wide array of trending topics competing for the attention of workers’ compensation professionals.

But sometimes the big catchy headlines obscure the true purpose of the profession: helping workers heal.

At the 2019 National Workers’ Compensation and Disability Conference® & Expo in Las Vegas, speakers will hit upon those trending topics, but their messages will be geared towards using expertise to drive practical solutions for injured workers.

“There’s a real opportunity… to see what are some of the emerging things that may prompt all of us to think about how we could run our businesses a little bit differently,” said Joe Berardo Jr.,CEO of Carisk Partners and a presenter at the conference.

This year’s keynote speaker is an addiction specialist and frequent TV and radio guest. Dr. Drew Pinsky will dive right into tangible solutions for one of the industry’s — and the nation’s — most pressing concerns: the opioid epidemic.

“We’ve looked at opioid addiction for some time, from various angles within the conference,” said Denise Algire, director of risk initiatives and corporate risk management at Albertsons Companies and program co-chair of NWCDC.

“I think what Doctor Drew brings to this is really prevention: What are key strategies for prevention? And what is addiction? How do you identify it? And how does it impact people, both in the workplace and out in our communities?”

“What are available resources in our communities that we may not be aware of in traditional workers’ compensation programs?”

Other sessions will offer advice on injury prevention, medical management and integrating technology into workers’ comp among other topics. But connecting these hot topics to practical solutions will remain key.

Injury Prevention is the Name of the Game

A number of sessions at this year’s conference will focus on injury prevention and the issue of how to prevent claims from deteriorating.

“Oftentimes we talk about what we do after an accident happens. Well, what do we do on the prevention side? And how do we connect that with our workers’ compensation program?” Algire said.

Denise Algire, director of risk initiatives and corporate risk management, Albertsons Companies; program co-chair, NWCDC

Dr. Gary Franklin’s mega session, “Disability Prevention: What’s Needed to Keep Routine Claims From Deteriorating,” will bring this focus into the disability landscape. Algire considers it one of the “can’t miss” talks of the conference.

“His session will talk about disability prevention and how to drive results,” she said.

“I’m sure during his session he will dovetail from the keynote session, because there is a lot of crossover between ad-diction, opioids and disability prevention.”

The conference also has a breakout session “Leveraging Technology to Connect Pre- and Post-Loss Strategies,” which will combine two different themes that the conference’s organizers wanted to emphasize this year: The connection between pre- and post-loss and the use of technology throughout the workers’ compensation landscape.

“One of the things that we thought was really important to talk about this year was the connection between pre-loss and post-loss,” Algire said.

Medical Management: When You Can’t Prevent an Injury

When it comes to workplace injuries, everyone involved wants to do whatever it takes to prevent employees from getting hurt in the first place.

But how a company responds during and after the event is equally critical, which is why medical management remains an important topic for employers.

“Medical management is a significant component of workers’ compensation claims,” Algire said.

“And even with sessions that aren’t necessarily in the medical track you can obviously see medical impacts.”

Within the medical management track, sessions like “The Opioid Epidemic: Mitigating Safety and Health Risks for Employees” and “The High Cost of Drugs and What to Do About Them!” will address issues that have been hitting the headlines, while others will offer more targeted advice.

The session “Managing Amputation Cases for Optimal Outcomes” will help attendees learn best practices for dealing with one of the most catastrophic kinds of claims.

Outside of the medical management track, sessions like “Marijuana, WC and Disability: A Medical and Legal Update” will delve into the confusion providers, program managers and patients face when trying to understand the role of medical marijuana within workers’ compensation.

“Medical marijuana has been a hot topic at many different conferences,” Algire said.

“I think there’s a lot of myths out there in terms of the impact of marijuana on pain and comparisons with opioids. The speakers will touch on that, what research is there and what part of it is hype.”

It’s All About that Tech

Since the technology track was added in 2017, data and technological advances have flooded the workers’ compensation industry, impacting everything from the treatments that are available to how companies manage their programs.

“In many of the sessions a common thread is using technology and data. Whether you’re dealing with claims, legal, disability management, or overall program management,” Algire said.

Joe Berardo Jr., CEO, Carisk Partners

That thread begins with the pre-conference session “How Do You Measure the Success of Your Workers’ Comp Pro-gram?” aimed at helping companies leverage their data to make sure their programs are effective.

“This session is led by industry experts that will be able to walk through some specific financial metrics, and how to utilize existing resources, and how to really focus on what matters,” Algire said.
Other sessions show how technological advances can align with risk management to prevent injuries.

The session “Exoskeletons as a Form of Personal Protective Equipment for Preventing Shoulder Injuries” will help attendees understand how these tools work with the human body and how they can protect against workplace fatigue.

Lessons You Can Take Home

As always, the conference’s depth of content will offer plenty of lessons attendees can bring to their own companies and programs.

Sessions like “Proactive Strategies to Get Injured Workers Back on the Job” and Berardo’s “Mergers and Acquisitions: Proceed With Caution or Advance with Agility” will offer practical advice in workers’ compensation program management and in running a growing business in this space.

“I plan to touch on how management teams should think about their role in creating a business that has value,” Berardo said.

“If they’re torn between how to run their business, by running it to be attractive to investors or running it to create value for my customers, I’m going to get into the do’s and don’ts there,” Berardo said.

“I’ll also provide some guiding principles on what they should be thinking about every day.”

Each year, the mega-session “Steal These Ideas! Teddy Award-Winning Employers Showcase Their Successful Strategies,” highlights award-winning workers’ compensation programs, allowing attendees to learn from the best.

The Teddy Award, judged by a panel of workers’ compensation experts, is the most prestigious workers’ compensation program excellence award in the industry.
Steal-worthy ideas also abound in the conference’s 34 breakout sessions, which cover a broad range of topics. Berardo advises attendees to plan ahead so they can capitalize on all the opportunities to meet people who can help their businesses.

“Everybody you need to talk to is in one place at one time and it’s really important to capitalize on that,” he said.

“I usually come away with the opportunity to partner with one or two other companies in developing a program or services that make us both stronger.”

If you’re still hungry for more after the break-out sessions, mega-sessions and pre-conference sessions, the conference kicks off its final day with the session “60 Tips in 60 Minutes — Avoiding Medical Mismangement’s Claims Fall-out.”

With speakers including two former Teddy winners, chief medical officers, workers’ compensation managers and an attorney, this session should offer information for everyone — a hallmark of the conference as a whole. &

About the National Workers’ Compensation and Disability Conference® & Expo:

As the largest National Workers’ Comp and Disability Conference for more than 25 years, NWCDC offers endless opportunities that will propel your workers’ comp and disability management programs forward. With the biggest Expo in the industry, you’ll be able to touch, compare and contrast the newest solutions from leading vendors in every category, and gain knowledge on-the-go at in-depth sponsored sessions on the show floor. Additionally, NWCDC offers valuable networking opportunities so you can make important contacts and share strategies with your peers.

You can also customize your learning experience with breakout sessions in six distinct program tracks: Claims Management, Medical Management, Program Management, Disability Management, Legal/Regulatory, and Technology. Plus, you’ll hear from Risk & Insurance’s Teddy Award winners for excellence in lowering workers’ comp risk.

Learn more about NWCDC and special savings for Risk & Insurance® subscribers here.

Courtney DuChene is a freelance journalist based in Philadelphia. She can be reached at [email protected].

How a Carrier Partner Can Help Navigate a Challenging Management and Professional Liability Market

A combination of a choppy economy with increased claims frequency and severity could lead to rate increases in the Management & Professional Liability market.

By: Risk & Insurance | April 3, 2024

Rates in the management & professional liability (M&PL) markets were on the rise from 2020 to early 2023 and are now falling rapidly.

M&PL divisions manage a number of different insurance products including management liability (D&O), professional liability (E&O), employment practices liability (EPL), fiduciary liability policies, cyber, etc. In 2023 and into 2024, a big influence on the marketplace has been the extremely aggressive and softening public company D&O market.

Though these rates have been softening for management liability, that may change over the next few years as companies continue to adjust their business models motivated by economic uncertainty. Layoffs were up nearly 200% last year, Forbes reported, even as other recession indicators, like the inflation rate, improved. A recession could lead to an increased claim activity and force carriers to raise rates.

“Whenever there is a meaningful downturn in the economy, we tend to see claim frequency pop up,” said George Schalick, Jr., senior vice president of the Management and Professional Liability Division at Philadelphia Insurance Companies (PHLY).

With continued fiscal uncertainty, businesses potentially already burdened with pandemic-related claims should seek a carrier with a long history in M&PL products. They will provide much-needed risk management guidance and be better positioned to support their insureds during market fluctuations.

Why Insureds Might See an Uptick in M&PL Claims

George Schalick, Jr., Senior Vice President of the Management and Professional Liability Division, Philadelphia Insurance Companies

The current soft market might come as a bit of a surprise as it does not track with previous underwriting cycles and economic conditions. Afterall, many privately held and non-profit organizations struggled during the early days of the pandemic with shutdowns and rapidly declining revenues. But the Government assistance programs, like the Paycheck Protection Program loans, helped keep many afloat during the tough times.

“During COVID many organizations stopped doing business until they were able to sort out all of the health and safety challenges,” Schalick said. “They were forced to lock down, but then all the government assistance programs allowed them to keep people employed. The increased volume of claims we anticipated we would see coming from the lockdowns and restrictions that were imposed upon businesses in the U.S. didn’t manifest at first.”

“Just because there wasn’t an onslaught of reported claims at the beginning of the pandemic, doesn’t mean the circumstances that would give rise to a claim being reported didn’t occur. Courts and the judicial system were closed or slowed and now that they are back open, we’re starting to see the circumstances that occurred during the COVID lockdowns becoming claims today,” Schalick said. “Litigation is progressing.”

Added to the delayed pandemic litigation is a concern over newer claims that might be filed as the country inches toward an economic downturn. Though a recession was avoided in 2023, experts think a soft dip could occur in 2024, with 76% of economists saying there’s a 50% or less chance of an economic downturn this year — that almost always results in more management liability claims.

“During the Great Recession in 2008, we saw an almost immediate spike in claims because of the economic conditions and the pressure it placed on organizations. They were making personnel changes with significant belt tightening almost immediately.” Schalick said.

What’s in Store for M&PL Policy Rates in 2024?

Despite an uptick in claims and increased economic uncertainty, management liability rates haven’t increased, resulting in market-wide pricing levels that may not meet the increased pressure of rising settlements and jury verdicts.

“Rates are going the other direction and settlement values are not falling,” Schalick said.

The mismatch between rates, claim frequency and severity is, in part, because carriers experiencing the dramatic soft market in the public D&O market are seeking premium gain in the private and non-profit market.

“In the public company market, the rates have been decreasing significantly. The rates were increasing in the private, not-for-profit market, and rightfully so, but there’s a desire to supplement overall mid-size D&O for carriers who also write private not-for-profit, and they see that as an opportunity to aggregate premium,” Schalick said. “So the always competitive landscape in the private, not-for-profit market has dramatically increased in the last 18 to 24 months.”

Still, companies of all sizes and types should be concerned about management liability rates in the future. Legal system abuse is resulting in increases in both the amount of litigation and the size of verdicts plaintiffs are receiving.

Certain areas of the country are particularly vulnerable to this type of legal system abuse. As a result, insureds in these localities are likely to be vulnerable to rate increases.

“The environment is so positive for the plaintiff that forces premium increases so carriers are able to stay in that market long term,” Schalick said.

Why a Tenured Carrier Partner Can Help Insureds Navigate An Uncertain Market

It’s clear that insureds are facing an uncertain M&PL market over the next few years. Fortunately, carriers with a long history in the M&PL space will be there to offer stability.

Philadelphia Insurance Companies has been supporting this market for 35 years. PHLY is committed to offering long-term rate stability, even as economic and claims trends start to push premiums upwards. They have an appetite for all sorts of companies, large and small, for-profit and nonprofit alike.

“We’ve been at this game for a long time and are one of the most tenured underwriters in this space,” Schalick said. “We like to stay very consistent.”

PHLY has worked with both for-profit and non-profit on management liability policies. With dedicated M&PL teams throughout the company’s 13 regions, PHLY provides the support agents and brokers are looking for on behalf of their clients. The teams know their regions well and can respond to local trends. They’re also dedicated to making the renewal process as easy as possible for their partners and policyholders.

“We have real confidence in our results, so we focus a lot on making the renewal experience as painless as possible for all agents and insureds,” Schalick said.

The company is also investing in tools to help insureds avoid losses. Earlier this year, they launched a new online risk management platform, PHLYGateway, which offers resources for insureds on how to create an employee handbook and trainings on issues such as recognizing workplace sexual harassment and discrimination.

If insureds have questions, they can consult a Best Practices Help Line, provided via the platform. That way, they can get on the spot risk management guidance to help them prevent claims.

To learn more, visit: https://www.phly.com/mplDivision/managementLiability/default.aspx.

This article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with Philadelphia Insurance Companies. The editorial staff of Risk & Insurance had no role in its preparation.

Rising Star Abby Flaherty of Risk Strategies Details Her Entertainment Brokering Journey and How Industry Tragedy Has Impacted Coverage

Planck’s Leandro DalleMule Discusses the Ethics of AI in Insurance

3 Keys to Combat ‘Big Brother’ Fears with Safety Technology

2024 RIMS President David Arick Shares How COVID and AI Have Changed the Risk Management Space

More from Risk & Insurance

The Power of Prevention: Unveiling the Strategies of Construction’s Risk Mitigation Heroes

Strengthening the Insurance Talent Pipeline: How Broadspire’s Early Career Training Program Is Taking Dead Aim at Industry Talent Shortfalls

Healing at Home: A Holistic Guide to Workers’ Compensation Recovery

The Predict & Prevent™ Podcast Episode 7: Climate Risk Exposure and Reaching Resiliency