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County told recent claim raised loss ratio to about 187%; IMWCA urges cost-allocation, training
Summary
IMWCA safety manager Dean Shady told the Marshall County Board of Supervisors a large workers' compensation claim pushed the county's loss ratio to roughly 187%, risking roughly $50,000 in higher premiums; he urged a cost-of-risk allocation, stronger incident review and training to regain discounts.
Dean Shady, safety and risk improvement manager with the Iowa Municipalities Workers' Compensation Association, told the Marshall County Board of Supervisors on Dec. 31 that a recent, "very substantial" workers' compensation claim has pushed the county's loss ratio well above 100%.
Shady said the loss ratio is "around, I think it's a dollar 87. So a 187%." He said that outcome typically causes the county to lose experience-based discounts and could raise the county's workers' compensation premium by about $50,000 for the next fiscal year unless some credits can be reclaimed through underwriting negotiation.
The recommendation Shady brought to the board was threefold: adopt a cost-of-risk allocation so departments…
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