Flying into the Future

by Tim Coomer, Specific Software CEO

In August of 2009, I bought a Cirrus SR22 airplane. As the most technologically advanced single engine airplane available today, the SR22 represents the future of general aviation. It is a significant leap forward in technology, with large glass displays in the cockpit (replacing old “steam engine” gauges) and a stack of computers and avionics that even impresses my young Wii masters at home (that would be my kids!).

Other than satisfying my passion for flying and my slightly nerdy nature, I believe this airplane brings a real competitive advantage to Specific Software and SIGMA Actuarial. That advantage is the ability to frequently meet clients, prospects, joint venture partners, and others face to face.

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Collateral Survey Confirms Increased Cost, Credit Difficulties in 2009

by Michelle Bradley, SIGMA Actuarial Consulting Group

The results of our collateral survey conducted in the last quarter of 2009 are now in. As you may recall, we invited insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in this survey.

The goal of the survey was to assess, on a national basis, trends in workers compensation collateral negotiations, exposures, reviews, arbitration, litigation, and other factors that SIGMA actuaries have been seeing with our own clients since the financial crisis of 2009. Prior to the survey, we reported on these trends in our blog article “A 2009 Collateral Perspective.”



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Three pitfalls employers should avoid when workers compensation rates decline

by Frank Pennachio, WorkCompEdge Regular Contributor

With few exceptions, workers compensation rates have been declining across the country for several years. Declining rates appear to offer employers relief, especially during these tough economic times. But declining rates can be deceiving and ultimately lead to greater total workers compensation costs. Here are three pitfalls employers should be alert to avoid when workers compensation rates go down.

Pitfall #1 – Assuming that when rates decline, premium costs will decline.

Paradoxically, declining rates may actually drive up the employer’s costs and pose greater risks to their business. Many employers are often surprised to learn that a reduction in rates does not always mean a reduction in direct workers compensation costs.

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Reasons 1 and 2: Why Mods Increase and What You Can Do About It

by Tim Coomer, Specific Software CEO

An unexpected increase in a client’s experience mod rating can be one of the more unpleasant client relationship situations you can experience in the workers compensation arena. This blog takes a look at 2 reasons why a mod might increase from one year to the next, but more importantly, what you can do to anticipate, analyze, and respond to potential increases in your clients' mods. In the weeks ahead, I will be covering a total of 10 reasons a mod may increase. With your feedback, which I encourage, I'm sure we can expand to an even longer list! Through awareness of these various scenarios and through effective use of ModMaster, you should be able to anticipate and explain increases in the mod.

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Have You Worked 10,000 Hours Toward Your Goal?

by Tim Coomer, Specific Software CEO

My office is filled with portraits of my heroes: astronauts Frank Borman and Buzz Aldrin, Albert Einstein, Abraham Lincoln, Vince Lombardi, and NASA Flight Director Eugene F. Kranz - famous for saying “Failure is not an option." Behind my desk is a large framed painting of George Washington kneeling by his horse and praying. As this collection implies, I love grit, determination, and bold individuals who use hard work and dogged perseverance to make a difference.

I also like good old fashioned motivational speakers, books, seminars, etc., that deliver powerful words of inspiration. I gravitate to the concept summarized in this quote by Calvin Coolidge:

“Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan "press on" has solved and always will solve the problems of the human race.”

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Top 10 ModMaster Features of the Year

by Kory Wells with Nick Cunningham

As the year draws to a close and "best of 2009" lists permeate the media - best films, songs, books, news stories, and so forth, we've decided to make our own contribution with a list of the best new features in our ModMaster software that calculates the workers compensation experience modification rate.

There's a long list of ModMaster enhancements we've implemented this year. Here are some of the best!

We've based this list on both our web stats, which give some indication of our most popular features, and on the comments of our tech support staff who talk to and email with ModMaster users every day. Our staff asked to include a few features that were actually introduced in 2008 based on some of our more frequent questions, such as, "What's the loss limit in my state?"

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Workers Comp by Webinar and Kindle; Technology for Agencies

by Kory Wells, WorkCompEdge Blog Editor

Sometimes we think of technology only as an expense, but when it's well-implemented, it can be an effective time and money saver. Today's blog features news about a cost-effective work comp webinar at which you can train a room full of people at one low price; Kindle delivery of our blog; and a free newsletter that will bring you more technology tips on a regular basis.

Interested in workers compensation training?


Better understand - and communicate with others about - the experience rating mod, premium overcharges, expected loss rates, loss runs, and more. Our friend Bill Wilson, Director of the Big "I" Virtual University (VU), will be offering a Workers Compensation Experience Rating Webinar on January 14, 2010, from 2:00 - 4:00 p.m. EST. We heartily recommend that you check it out (and no, we don't receive any type of compensation for making that recommendation).

Please view the full blog at http://workcompedgeblog.com/