Bill Mudge, WCIRB president and CEO stated: STAR is the product of a successful partnership between WCIRB, our members, and our technology partner, Tata Consultancy Services.
Suresh Muthuswami, president, insurance and healthcare, at TCS said: The STAR project undertaken by WCIRB is an example of a true transformational program.
data only categorizes "serious" injuries, which are those associated with at least $2,000 in costs.
Berte of the AIA says that the WCIRB
has projected the bill will provide $880 million in savings but will add $610 million in 2014 benefit increases.
In October 2007, the WCIRB
released its fourth annual update on the key cost components impacted by the 2003 and 2004 legislative reforms based on their analysis of the post-reform costs that have emerged through the middle of 2007.
In making these reductions, we looked at our own actuarial and claims experience together with the recent findings from the WCIRB
on insurer loss and premium experience," explains Ronald Groden, Vice Chairman & Chief Financial Officer of Employers Direct Insurance Company.
WCIRB of California is an unincorporated, nonprofit association comprised of all companies licensed to transact workers' compensation insurance in California and has over 400 member companies.
We selected Business Objects because they are the leader in business intelligence extranets, and we are constantly looking for ways to use the web to improve our level of service to our constituents," said Randy Mellin, CIO, WCIRB of California.
This was one of the most important reasons why we selected EQECAT," said David Bellusci, senior VP and actuary of WCIRB
According to the WCIRB
(California state rating bureau), the most recent estimates for California put 1999 average indemnity claim cost at $30,813.
The WCIRB blames rapidly rising claim costs for benefits and medical and vocational rehabilitation services for this increase.
The WCIRB has estimated that the cost impact of these benefit increases would be $2.