|Author||Subject: insurance industry has found innovative funding methods which sometimes seem to eliminate the concept of insurance from the transaction|
|Del|| Posted At 13:46:51 06/28/2001
This is what M. A. Bernstein & Company says about insurance companies. They have provided insurance and risk management services to commercial and industrial clients for over 75 years. What they say is quite revealing.
The revolution in health care has had a major effect on the workers' compensation market in recent years, with roller coaster effects.
The insurance industry has responded by withdrawing from some jurisdictions, by finding niches, and by making surcharges. It has found innovative funding methods which sometimes seem to eliminate the concept of insurance from the transaction. It has sometimes managed cases in a way which might appear contrary to the basic concepts of wellness and recovery. It has on occasion defined work narrowly in an attempt to manage risk by shifting responsibility to other medical and disability coverages.
The result is that each employer needs to define and defend the his own view of his responsibilities to his employees and to continuously monitor the day to day application of those goals and strategies in the operation of his insurance plans. A growing trend is in the coordination or combination of the Workers' Compensation plan with other medical and disability programs.
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