Synergy's 60% Drop in Workers' Comp Payouts Sparked Transformation
www.csc.com Synergy Goes from TPA to Carrier with RISKMASTER As a TPA, Synergy Claims Management reduced its clients' payouts by 60 percent ...
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Guaranteed Income for those with Injuries - %post_titlle%
Selling a Structured Settlement or take a Guaranteed Payment?
Up until twenty years in the past, anybody who won a lawsuit on account of a suit involving worker’s compensation, wrongful death or accident had to accept a lump sum payment as their compensation. The payment would be meant to be invested, with the beneficiary living off of the proceeds for as long as their recovery was anticipated to take. In many cases, this sort of settlement worked superbly, however in other instances, the results are a disaster.
...O'Farrell flags WorkCover overhaul
NSW Premier Barry O'Farrell says there's no plan to cut compensation payouts as part of an overhaul of the blown-out WorkCover scheme.
Mr O'Farrell on Monday signalled that an overhaul of WorkCover was needed, with a PricewaterhouseCoopers audit finding the scheme was more than $4 billion in deficit - with a $1.7 billion deterioration in the past six months alone.
Workers' compensation premiums in NSW were between 20 and 60 per cent higher than those in Victoria and Queensland, he told a business lunch to mark his government's first 12 months in power.
He warned that if the state failed to act, employers would be paying up to six times what companies in Victoria and Queensland paid.
Unions and the NSW opposition accused Mr O'Farrell of harbouring plans to slash WorkCover benefits, with Unions NSW threatening strike action.
Mr O'Farrell said cuts to benefits had not been proposed.
'We'll be looking at all things, including trying to reduce the rate of serious injury in NSW, through to the way the funds are managed through to medical costs and efficiencies at WorkCover itself,' he told reporters in southwest Sydney.
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