Critical Issues in Workers Comp
Date: Monday, November 7, 2011
Time: 2:00pm ET | 11:00am PT
Over the past several years, declining economic conditions have conspired to place new pressure on workers compensation results. As a result, two of the main pillars of the workers comp industry—claims frequency and medical costs—have come under increased scrutiny. Two of NCCI’s top subject matter experts will present on these two industry hot topics, offering the latest available data and their forecast for future market developments.
Practice Leader and Senior Actuary, Barry Lipton, will present trends and research on Claims Frequency, including:
Practice Leader and Senior Actuary
NCCI Holdings, Inc.
Barry Lipton is a practice leader and senior actuary for NCCI. He leads NCCI’s actuarial research and presents regularly before insurance industry groups on critical issues such as medical cost drivers, industry reserve adequacy, and current workers compensation trends. Before joining NCCI, Lipton worked for the Fireman’s Fund Insurance Company as vice president and actuary in the Claims Division. He has extensive experience as a commercial lines pricing actuary, including workers compensation, liability, and property insurance. He holds a BA in mathematics from Queens College and an MA in mathematics from Columbia University. Lipton is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries.
NCCI Holdings, Inc.
Harry Shuford is a practice leader and chief economist for NCCI. His research has addressed workers compensation-related issues in corporate finance, trends in loss costs, with particular focus recently on medical utilization, and the underwriting cycle. Shuford has been widely published in industry publications including Business Economics, Journal of Occupational and Environmental Medicine, and The Journal of Workers Compensation. Prior to joining NCCI in 2000, Shuford served as global director of financial and actuarial consulting for Alexander & Alexander and was a member of the Captive Insurance Advisory Committee for the Vermont Department of Insurance. Shuford earned a PhD degree in economics from Yale University and taught finance at New York University.
Principal, JW DeWitt Business Communications
Mr. DeWitt is founder, principal, and senior consultant for JW DeWitt Business Communications in New Salem, Mass. For more than 25 years, he has worked as a business strategist, marketing and communications consultant, and writer specializing in technology, finance and insurance, management, and related areas. A frequent meeting facilitator and event moderator, Mr. DeWitt is a contributing technology editor for Tech Decisions and National Underwriter Property & Casualty magazines.
A more aggressive insurance market, technology and changing workforce dynamics are expected to affect the casualty insurance market in 2017.
A strong growth in construction drives bonding demand, but also a shortage in skilled workers, giving rise to increasing claims.