Author: Kris Janisch

Driving safety webinar recording available

Posted on by Kris Janisch

The recording of SFM’s recent webinar on safe driving and the implications for workers’ compensation is now available for agents and clients.

During the hourlong webinar, held in June 2024, SFM professionals shared their extensive knowledge on:

  • Why driving is the most dangerous work activity
  • Types of driving-related injuries
  • The claims process, including investigations
  • How to prevent driving incidents and establish a safe driving program
  • The consequences of a driving-related injury for the company and the employee
  • Question-and-answer session

Also, you can find previous webinars on our website, featuring a number of important work comp topics, including:

  • Hiring and onboarding
  • Claims 101
  • Avoiding litigated claims
  • Fundamentals of a return-to-work program
  • Loss prevention 101
  • Winter slips and falls

Lastly, be sure to sign up for alerts on future SFM webinars.

 

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Upcoming e-mods available in SAM

Posted on by Kris Janisch

You can find a wealth of information on current policies in SFM Agency Manager (SAM), including the upcoming e-mod for policies that are renewing soon.

Renewal e-mods are typically available in SAM as early as 90 days prior to the renewal.

To find it, just log in to SAM and go to “Policies,” and click on the policy you’re interested in. On the policy overview screen, you’ll find the upcoming e-mod in the right column, toward the bottom just under the current e-mod.

 

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SFM Foundation golf events raise $160,000

Posted on by Kris Janisch

SFM Foundation golf
Participants at the 2024 SFM Foundation golf fundraiser

​The SFM Foundation — which provides college scholarships for students whose families are impacted by workplace injuries — recently wrapped up its 2024 golf fundraisers.

In total, the events raised more than $160,000. The Iowa event, held in May, raised about $7,000 more than the 2023 event. Likewise, Minnesota’s June event raised approximately $5,000 more than last year’s.

“We’re always so thankful of the support of our agent partners, clients and others who contribute to our mission,” said Linda Williams, President of the SFM Foundation. “These golf events are not only a way to raise scholarship funds, but they also allow those involved to connect and build a community.”

In total, more than 260 golfers came out for the events, and sponsors continued to help bolster the fundraising effort.

In its first year, the SFM Foundation provided $57,000 in scholarship money. Already in 2024, it was $482,500. And the SFM Foundation is among the top organizations in the U.S. providing similar philanthropy. Since its inception in 2008, the SFM Foundation has awarded $4.1 million in scholarship funds.

“We are proud of our efforts to support these families, and they have endured difficult times and deserve something good,” said Andy Gebhard, Chair of the SFM Foundation Board of Directors. “But without the support of our sponsors, agents and others, we would not be able to help these young people. The foundation is doing great things, and it takes all of us working together to make it all happen.”

About the SFM Foundation

The SFM Foundation is a nonprofit that helps families affected by workplace injuries by providing scholarships to children of workers disabled or killed in work-related accidents. The financial burden of putting a student through college is real. Add a catastrophic injury into the mix and affording college is an even bigger challenge. We help education be more affordable for these students and their families by offering multi-year post-secondary scholarships.

 

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SFM attending industry events – summer and fall 2024

Posted on by Kris Janisch

SFM is planning to participate in several industry events in the coming months, including:

 

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Underwriter accomplishments – 2024 midyear update

Posted on by Kris Janisch

Here’s a look at the latest updates and milestones for SFM’s underwriting staff over the past few months.

  • Underwriting Technical Specialist Ashley Butcher completed her Chartered Property and Casualty Underwriter designation (she was also promoted to Business Team Leader of Small Business Accounts)
  • Vice President, Director of Underwriting Brian Bent was appointed to the National Council on Compensation Insurance (NCCI) Underwriting Committee
  • Kevin Simberg was promoted to Underwriting Technical Specialist
  • Gabby Frein was promoted to Senior Underwriter
  • Eric Olafson was promoted to Underwriting Technical Specialist
  • Michele Schaeperkoetter was promoted to Marketing Underwriter Specialist
  • Carmen Klug was promoted to Business Team Leader of Wisconsin Accounts

Other SFM news of note:

  • Cody Allen was promoted to Territory Manager
  • Mark Lewis was promoted to Business Team Leader of the Small Business Accounts team

 

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In volunteer role, SFM CFO brings expertise to Children’s Minnesota hospitals

Posted on by Kris Janisch

Amanda Aponte
Amanda Aponte, CFO at SFM

Children’s Minnesota has been recognized as one of the best hospital systems for kids in the U.S.

“Children’s is on the leading edge of advanced care for medically delicate situations, such as post-delivery for premature babies, childhood cancer and adolescent mental health,” said Amanda Aponte, CFO at SFM. “As a mother with small children, this cause is very close to my heart.”

Now, Aponte will bring her financial expertise to the nonprofit hospital group — she’s volunteering as a Community Member on the Children’s Minnesota Hospital investment subcommittee.

In her role, Aponte will collaborate with the Children’s investment team and subcommittee members on the Children’s Minnesota hospital and Children’s Minnesota Foundation investment portfolios. She started in May 2024, attending her first investment committee meeting. The group meets quarterly.

“I’m excited to step outside of workers’ compensation and use my experience to help a different worthy cause,” Aponte said. “I’m looking forward to learning more about nonprofit financials and investment strategies.”

Those investment strategies often center around environmental, social and governance matters, developing metrics to monitor asset managers’ progress toward goals.

“The mission at Children’s is to help kids specifically,” she said. “They do this not only in their operations but also in the way they invest, such as venture capital investments that bolster childhood medical advancements.”

An actuary by training, Aponte will bring the skills she has developed at SFM to the investment portfolio at Children’s Minnesota, notably her background in fixed income investing and enterprise risk management.

“I’m thrilled to be a small piece in Children’s greater community initiatives to lift up kids and families who are experiencing difficult medical situations.”

 

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SFM safe driving webinar set for June 26

Posted on by Kris Janisch

Driving safety webinar graphicGet expert information and statistics on why being cautious behind the wheel is important during SFM’s upcoming webinar.

Register now for Driving Safety, an SFM webinar for policyholders, set for 10-11 a.m. CDT Wednesday, June 26.

During the webinar, SFM professionals will share their extensive knowledge on:

  • Why driving is the most dangerous work activity
  • Types of driving-related injuries
  • The claims process, including investigations
  • How to prevent driving incidents and establish a safe driving program
  • The consequences of a driving-related injury for the company and the employee
  • Much more, including a question-and-answer session at the end

To learn more about this webinar and view past webinar recordings, visit sfmic.com/webinars.

 

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New changes to Minnesota workers’ compensation law

Posted on by Kris Janisch

By SFM Corporate Counsel

The Minnesota Workers’ Compensation Advisory Council (WCAC) bill is officially law.

Gov. Tim Walz signed the bill on May 8, 2024. The legislation contains 50 sections with amendments to chapter 176, many of which are technical or cleanup provisions recommended by the Office of Administrative Hearings.

The following is a summary of key changes contained in the bill.

Maximum compensation rate

Effective Oct. 1, 2024, the maximum compensation rate will increase from 102% to 108% of the Statewide Average Weekly Wage (SAWW).

Average Weekly Wage (AWW) for agricultural workers

The AWW for agricultural employment will change to address the windfall that many employees have enjoyed from multiple employments during short-term agriculture employment stints. If an agricultural worker sustains an injury while working for two or more employers during short-term agricultural work, the AWW will be either the AWW of the employee’s other employment or the agricultural wage at 5 times the daily wage. The employee cannot claim wages from both agricultural work and from other employers.

This will be a significant change for policyholders in the agricultural business.

The change is effective Oct. 1, 2024.

Attorney fees

The maximum amount for statutory-contingent attorney fees will increase. Currently, the maximum attorney fee allowed is 20% of the first $130,000 of compensation awarded to the employee, for a maximum attorney fee of $26,000. The new law will change to 20% of the first $275,000 of compensation awarded to the employee, for a maximum attorney fee of $55,000. The change is effective for injuries occurring on or after Oct. 1, 2024.

Procedural changes

Answer

The timeline for filing an Answer to a Claim Petition or an Objection to a Request for an Expedited Hearing will change from 20 to 30 days. The change is effective Aug. 1, 2024.

Discontinuance of rehabilitation benefits

If a claim has been accepted and a rehabilitation plan has been approved, the employer or insurer may not discontinue rehabilitation services until notice has been filed with the commissioner of the Department of Labor and Industry and served on the qualified rehabilitation consultant, the employee, and the attorney representing the employee, if any. The notice shall state the date of intended discontinuance and set forth a statement of facts clearly indicating the reason for the action. Copies of whatever medical reports or other written reports in the employer’s possession that are relied on for the discontinuance shall be attached to the notice. The change is effective Aug. 1, 2024.

Clarification to Minnesota Statute § 176.238, notice of discontinuance

The amendment adds “or insurer” to all references of “employer” so the statute consistently reads “employer or insurer.” The amendment clarifies that employers or insurers can serve and file notices of discontinuances, file petitions for hearing, and be served with objection to discontinuance and court decisions. The change is effective Aug. 1, 2024.

Home remodeling

Home remodeling benefits will increase from $75,000 to $150,000, effective Oct. 1, 2024.

Medical record penalty

Effective Aug. 1, 2024, the electronic medical records payment provisions of Minn. Stat. § 176.135, subd. 7, will allow the commissioner to impose a permissive of penalty of $500, payable to the Assigned Risk Safety account, for violations of the statute.

Data export feature available in CompOnline

Posted on by Kris Janisch

If you use CompOnline® you can create customized reports on your workers’ compensation claims.

The CompOnline risk management system allows policyholders to manage claims online and access workers’ comp data in real-time. (It’s especially helpful for mid- to large-size employers who tend to get more claims.)

Reports can be filtered by policy term, claim type, claim status, location and claim cost, and exported as a spreadsheet. You can also choose from a long list of data points to include in the report, such as injury, average weekly wage, amounts paid or reserved and much more.

To run a report, click “reports,” and then click “data export” in the navigation bar that appears below.

 

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SFM’s Financial Strength Rating of A- (Excellent) reaffirmed by AM Best

Posted on by Kris Janisch

SFM Mutual Insurance Co. announced that its Financial Strength Rating of “A- (Excellent)” and Long-Term Issuer Credit Rating of “a-” have been reaffirmed by AM Best Rating Services, Inc.

AM Best issued this rating based on several factors, including its assessment of SFM’s balance sheet strength, as well as its operating performance, business profile, innovation and enterprise risk management. Before publicly disclosing this affirmation, AM Best conducted a thorough analysis of SFM’s finances and operations.

“Our annual review with AM Best gives us the opportunity to share our company’s story, and commitment to customer service, with experts from the global authority in credit ratings for the insurance industry,” said SFM President and CEO Terry Miller. “We view this annual rating as an important indicator of SFM’s long-term financial strength and stability.”

About AM Best

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the U.S., the company does business in more than 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com .

 

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