This Week in Comp, May 8, 2015

This Week in Comp provides of an overview of workers’ compensation news from across the country.

Employers try adding genetic testing to employee wellness mix
Genetic testing could help uncover risk factors for chronic conditions such as obestity. Employers that want to add genetic testing to their wellness package must weigh the Exercisingbenefits against employee privacy concerns…MORE

Insurers predict impact from wearable devices within 2 years
Nearly two-thirds of insurers expect wearable technologies to have a significant impact on the industry, according to a survey in Accenture’s annual Technology Vision report. One insurer that participated in the study recently began offering new policyholders a free fitness band and rewarding their efforts with premium discounts…MORE

OSHA sets lofty goal for annual Safety Stand Down
The Occupational Safety and Health Administration hopes at least 3 million workers receive fall prevention information during its annual Stand Down for Safety event, up from 1 million last year…MORE

Texas Mutual pays $117,226 dividend to Texas Home Builders
THB-bro-lores-1The dividend was based largely on the safety group members’ collective efforts to prevent workplace accidents and control their associated costs. Safety group dividends are separate from the individual dividends Texas Mutual has distributed among qualifying policyholders every year since 1999.…MORE

Aon analysis shows double-digit increases in U.S. pharmacy costs by 2016
Price inflation for brand and specialty drugs, a slowdown in blockbuster drugs losing patent protection, generic dispensing rates leveling off, and the robust pipeline of specialty drugs are driving the increase, according to Aon…MORE

New study highlights “automaticity” and its link with distracted driving and walking
The attention required by text messaging is intermittent, focused and visual, and it requires individuals to divide attention between the immediate physical space and an imagined social space, according to the study. Scientific jargon aside, texting and driving is a dangerous combination…MORE

Buffett predicts reinsurance slump
DecreaseCompetition will drive prices down in the reinsurance market over the next decade, according to Warren Buffet, CEO of Berkshire Hathaway…MORE

AIG could follow GE’s move to shed ‘too-big-to-fail’ tag
The tag subjects companies to Fed oversight that could include tougher capital, leverage and liquidity requirements….MORE

CA skydiver charged with workers’ compensation fraud
A construction worker was videotaped skydiving after claiming an on-the-job injury was causing him excruciating pain and preventing him from using his left arm to drive…MORE 

How to interest millennials in insurance careers
About 25 percent of the industry is expected to retire by 2018, creating 400,000 open positions by 2020. An new online platform called MyPath is designed to help students and other young adults explore their career options within insurance and risk management…MORE

First licensed autonomous freight truck hits road in U.S.
The Freightliner Inspiration Truck is not driverless, but it does allow the driver to cede control of safety-critical functions under certain traffic or environmental conditions…MORE

Oklahoma high court won’t hear challenge to work comp alternative
The law allows some employers to comply with Oklahoma’s workers’ comp requirements by operating their own written benefit plans. It also transformed the workers’ compensation system from a court-based system to an administrative one…MORE

TDI-DWC hosts workplace safety and health conference May 19-21
The Austin conference will include presentations on a range of topics, such as distracted driving, workplace violence, hazardous materials and regulatory compliance…MORE

Regulatory roundup
Texas Mutual’s weekly mash-up of health and safety news…MORE

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