December 7, 2017

CA WCIRB Releases Report on 2nd Quarter 2017 Insurer Experience

Oakland, CA – The WCIRB has completed its report on statewide workers’ compensation insurer loss and premium experience through June 30, 2017. The major findings of the report include: California written premium (gross of deductible credits) for the first half of 2017 is $9.1 billion, which is 4% below the written premium reported for the first half of 2016. The projected industry average charged rate per $100 of payroll for policies incepting between January 1, 2017 and June 30, 2017 is $2.52, which is…[Continue Reading]

WCRI Announces Webinar to Discuss Latest Opioid Research

Cambridge, MA – The Workers Compensation Research Institute (WCRI) recently announced that it will hold a one-hour webinar on Thursday, September 28, 2017 at 2 p.m. ET (1 p.m. CT, 12 p.m. MT, and 11 a.m. PT) to discuss its latest research on interstate variations and trends in the prescribing of opioids for workplace injuries. “Our research shows that over 70 percent of more-severely injured workers with pain medication received opioids in the majority of study states,” said John Ruser…[Continue Reading]

Willis Towers Watson: Commercial Insurance Prices Remain Nearly Flat in Q2 2017

Artlington, VA – Commercial insurance prices in the U.S. were again nearly flat during the second quarter of 2017, according to leading global advisory, broking and solutions company Willis Towers Watson’s (NASDAQ: WLTW) Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies written during the second quarter of 2017 with those charged for the same coverage during the equivalent quarter in 2016. Price changes reported by carriers averaged…[Continue Reading]

A.M. Best Affirms Credit Ratings of Delphi Financial Group, Inc. and Subsidiaries

Oldwick, NJ -(BusinessWire)- A.M. Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of the life/health subsidiaries, Reliance Standard Life Insurance Company (Schaumburg, IL) and First Reliance Standard Life Insurance Company (New York, NY) (together referred to as Reliance Standard), as well as the property/casualty subsidiaries, Safety National Casualty Corporation, Safety Specialty Insurance…[Continue Reading]

CWCI Study Finds California Workers’ Comp IMR Volume May Be Leveling Off

Oakland, CA – A new study on the California workers’ compensation independent medical review (IMR) process established by state lawmakers to resolve medical disputes finds that in the first half of this year, more than 91% of all utilization review (UR) physicians’ modifications or denials of treatment that were reviewed by an IMR physician were upheld, and after increasing steadily since 2013, IMR volume appears to be leveling off. California law requires workers’ comp claims administrators to have a…[Continue Reading]

WCRI Study: Opioids Dispensed to Kentucky Injured Workers Reduced Immediately Post-HB 1

Cambridge, MA – According to a new study from the Workers Compensation Research Institute (WCRI), fewer injured workers in Kentucky with pain medications received opioids, and they received smaller amounts on average after the implementation of Kentucky’s House Bill (HB) 1. The study, Impact of Kentucky Opioid Reforms, examined the impact of Kentucky’s HB 1 on opioid dispensing to newly injured worker in the first 12 months after the injury. The legislation, which went into effect…[Continue Reading]

CA WCIRB Releases Report on First Quarter 2017 Insurer Experience

Oakland, CA – The WCIRB has released its quarterly update on California statewide insurer experience valued as of March 31, 2017. Highlights of the report include: California written premium for the first quarter of 2017 is $5.0 billion, which is consistent with the written premium reported for the first quarter of 2016. The projected industry average charged rate per $100 of payroll for policies incepting between January 1, 2017 and March 31, 2017 is $2.56, which is 3% below the average rate charged…[Continue Reading]

CWCI Examines Opioid Use in California Workers’ Comp Claims Involving Mental Health Disorders

Oakland, CA – A new California Workers’ Compensation Institute (CWCI) study tracks changes in the prevalence, volume and strength of opioid prescriptions in California work injury lost-time claims that involve a mental health component, and compares those results to other indemnity claims that have no mental health component. Using data from 368,538 lost-time claims for work injuries that occurred during the 10-year span ending in December 2016, the study’s authors calculated the percentage of…[Continue Reading]

A.M. Best Assigns Credit Ratings to Starr Specialty Insurance Company

Oldwick, NJ -(BusinessWire)- A.M. Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” to Starr Specialty Insurance Company (Starr Specialty) (a Texas corporation) (Dallas, TX). The outlook assigned to these Credit Ratings (ratings) is stable. The ratings reflect the execution of an inter-company pooling agreement under which Starr Specialty will cede 100% of its business to its parent, Starr Indemnity & Liability Company…[Continue Reading]

Coventry Releases Part 4 of 2016 First Script Drug Trends Report Series

Downers Grove, IL – Coventry recently announced the release of the third part of its 2016 Drug Trends Series, which is based on all calendar year transactions billed through its PBM Program, First Script, as well as transactions from medical bill review to reflect the total pharmacy experience for their client base. When releasing the previous parts of its report, Coventry noted that they are continuing to present data for traditional, managed, and unmanaged views; however, they are now sharing the information…[Continue Reading]

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