Jan 21, 2020
Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.
Today’s guest is Dr. Richard Victor. Dr. Victor founded the Workers Compensation Research Institute and served as its president for 32 years through December 2015.
Currently, he is the Senior Fellow at the Sedgwick Institute and recently authored its first book, SCENARIOS FOR THE 2030s: Threats and Opportunities for Workers’ Compensation Systems.
In this episode, listeners will be getting a long term forecast about workers compensation from the person who has the utmost authority on the topic, Dr. Victor! He’ll be taking you on a journey to the 2030s and explaining the big picture of what workers comp systems might look like in the future, what forces produce these dramatic changes, and imparts some important advice for avoiding the issues that may be prevalent in the 2030s.
[:01] About the RIMS Benchmark Survey and the RIMS Membership.
[:50] About today’s guest and topic!
[:57] Justin reminds listeners that registration is open for RIMS 2020.
[1:18] More about today’s guest, Dr. Richard A. Victor.
[1:45] Justin welcomes Dr. Victor to the podcast!
[1:59] Dr. Victor tells listeners about his book, SCENARIOS FOR THE 2030s: Threats and Opportunities for Workers’ Compensation Systems.
[3:07] Dr. Victor takes listeners on a journey to the 2030s.
[4:22] What inspired Richard and the Sedgwick Institute to publish his book.
[5:44] Richard gives a brief big picture of what workers compensation looks like to him in 2030.
[6:43] Richard highlights some of the important forces that affect/will affect workers compensation.
[8:47] What do labor shortages mean for workers comp?
[12:22] Did Richard have the risk management community in mind when he was writing his book, SCENARIOS FOR THE 2030s?
[13:07] Richard imparts some advice on how to plan for or avoid these issues that may be prevalent in the 2030s.
[15:46] Though it sounds like Richard had the U.S. in mind when he was writing his book, does he believe that the ideas and scenarios could be applied or felt globally?
[16:41] Has Richard had any experiences when he was heading up his own organization that maybe indirectly influenced his book?
[18:44] Justin thanks Dr. Victor for joining the podcast and highlights some of the links available in the show notes!
Mentioned in this Episode:
RIMS 2020 (May 3rd–6th in Denver, CO)
RIMS-Certified Risk Management Professional (RIMS-CRMP)
New Feature: RIMS-CRMP Stories
RIMS Membership — Discover why 10,000 of your peers from more than 60 countries are a part of the RIMS community!
RIMS Benchmark Survey: Contribute your data by March 31 and receive the 2020 Survey for free! You’ll learn how much companies are paying per line of coverage and more. Visit RIMS.org/Benchmark.
Risk Management Magazine: “Workers Compensation Insurance Gaps Expose Employers to Injury Lawsuits,” by Daniel P. O'Brien, Jerry Cline, and Scott W. Gedeon
SCENARIOS FOR THE 2030s: Threats and Opportunities for Workers’ Compensation Systems, by Richard A. Victor
Workers Compensation Research Institute (WCRI)
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