May 22, 2017

Fitch: U.S. Commercial Lines Profitability Deteriorating, WC A Bright Spot

Fitch Ratings

Chicago, IL – The U.S. commercial lines insurance market segment reported its fourth consecutive underwriting profit in 2016, but the combined ratio deteriorated by 4 percentage points to 99% according to a new report from Fitch Ratings. Poor results tied to adverse loss reserve development posted in the last two years by traditional…[Continue Reading]

NCCI State of the Line Highlights Key Indicators of Workers Comp Industry

NCCI Holdings, Inc.

Boca Raton, FL – The National Council on Compensation Insurance (NCCI) recently released its highly anticipated annual State of the Line Guide, the industry’s most extensive workers compensation market analysis. As presented in this year’s State of the Line Report, the workers compensation Calendar Year 2016 combined ratio…[Continue Reading]

WCRI Study: IL Still Seeing Impact of 2011 Workers’ Comp Reform Law

WCRI

Cambridge, MA – The average total cost per workers’ compensation claim in Illinois decreased 6.4 percent since 2010, but remained higher than most of the 17 other states studied in a recent report, CompScope™ Benchmarks for Illinois, 17th Edition, by the Workers Compensation Research Institute (WCRI). “The 6.4 percent decrease…[Continue Reading]

RIMS NextGen Forum Offers Learning for New Risk Mgmt Professionals

RIMS

New York, NY – RIMS, the risk management society™, has announced the agenda for the Society’s second annual NextGen Forum scheduled for June 4 and 5 in Austin, Texas. Designed to support new-to-the-field professionals meet expectations and successfully contribute to organizational success, this year’s agenda features…[Continue Reading]

A.M. Best Affirms Credit Ratings of AMERISAFE, Inc. and Operating Subsidiaries

Amerisafe-Logo2

Oldwick, NJ -(BusinessWire)- A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” of American Interstate Insurance Company, Silver Oak Casualty, Inc. and American Interstate Insurance Company of Texas (Austin, TX) (collectively referred to…[Continue Reading]

PCI Issues Statement on Florida Workers’ Compensation Rate Ruling

NCCI Holdings, Inc.

Tallahassee, FL – The National Council on Compensation Insurance (NCCI) recently prevailed in its appeal in Florida. The Florida First District Court of Appeals has ordered a full reversal of the lower court decision, upholding the 14.5 percent rate increase approved by the Florida Office of Insurance Regulation. Logan McFaddin…[Continue Reading]

A.M. Best Affirms Financial Strength of The MEMIC Group with “A” (Excellent) Rating

MEMIC

Portland, ME – A.M. Best has affirmed its “A” (Excellent) rating for super-regional workers’ compensation insurer The MEMIC Group, which includes Maine Employers’ Mutual Insurance Company, MEMIC Indemnity Company and MEMIC Casualty Company. As the insurance industry’s most respected rating organization, A.M. Best acknowledged…[Continue Reading]

MI WCA: Report Shows Michigan’s Work Comp System with Lowest Costs

MI LARA WCA-Logo2

Lansing, MI – The Michigan Workers’ Compensation Agency (WCA) recently announced that a new national report shows the state’s workers’ compensation system continues to be a positive economic attraction asset, while still ensuring the protection of injured workers. Last year, the WCA ensured the proper payment of over $1 billion…[Continue Reading]

WCRI Study Examines Effects of Provider Choice Policies on Workers’ Comp Costs

WCRI

Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently released a new study titled The Effects of Provider Choice Policies on Workers’ Compensation Costs. The study found nuanced evidence about how provider choice policies are related to workers’ compensation medical and indemnity costs. According to…[Continue Reading]

AIA: IL State Run WC Fund & Price Control Legislation Fail to Provide Meaningful Reforms

American Insurance Association

Washington, DC – Steve Schneider, Midwest region vice president for the American Insurance Association (AIA), issued the following statement after the Illinois House passed two adverse pieces of workers’ compensation legislation (HB 2525 and HB 2622) last night. If enacted, HB 2525 would require insurers to submit rates to the Illinois…[Continue Reading]

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