Posted by T. Urtle on February 25, 1999 at 22:26:19:
In Reply to: Weak workers comp posted by Tom Lawyer on February 24, 1999 at 13:03:39:
SAIF's financial record is public record and you should take the time to check it out. Their expense ratio, (read the cost of doing business compared to premium)has steadily risen and is approaching 42%. What does this mean? It means that the continue to provide the same level of service to their employer even with dropping premiums. Obviously, it is in their best interest to reduce the cost of claims if the amount of money they take in is constantly being reduced.
Where did you find your statistics on the increase in denials at SAIF? DCBS reports that they accept about 80% of all claims and deny about 20%. This ratio has not significantly changed in years. As you know, premium has dropped significantly resulting in a $3.8 billion savings to Oregon employers since 1990, however, total benefits paid to injured workers has increased by 126% in the same period of time.
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