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Archives for 2010

Progressive Enterprises Acquires a Controlling Stake in Progressive Medical, Inc.

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COLUMBUS, Ohio, Dec. 31, 2010 /PRNewswire/ — Progressive Enterprises, a newly formed holding company for several insurance services businesses owned by affiliates of funds managed by Stone Point Capital and Fiserv, Inc., announced the acquisition of Progressive Medical, Inc. Based in Westerville, Ohio, Progressive Medical is a leading pharmacy benefit manager and ancillary services provider… [Read more]

Outgoing California Insurance Commissioner Poizner Urges Governor Elect Brown to Continue to Protect Workers’ Comp Reforms

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 Rates Could Skyrocket if Benefits Increased Without Cutting Costs, Warns Poizner     Sacramento, CA–12/30/2010–Commissioner Poizner sent a letter to Gov.-Elect Jerry Brown today to urge him to preserve the workers’ compensation insurance reforms that have reduced the Workers’ Compensation Cost Claims Benchmark by more than 60 percent since its high in 2003. “We all witnessed… [Read more]

A Recap of Featured Articles From 2010!

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Todays’ final edition of WorkCompRecap for 2010 does not have any BREAKING NEWS or fresh information from around the industry!  After yesterday’s announcement regarding York Risk Services Group, the news and information that all of you loyal readers consistently read dropped off a cliff.  Somehow, that seems like a fitting end to 2010!    So,… [Read more]

ABRY Partners Acquires Majority Equity Interest in York Risk Services Group

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PARSIPPANY, N.J., (December 29, 2010) – York Risk Services Group, Inc., a premier national provider of claims-handling, specialized loss adjusting and other risk management services, today announced that ABRY Partners, a private equity firm based in Boston, has invested in and acquired a majority of the equity of York. Previously, the majority equity interest in… [Read more]

California Department of Industrial Relations Highlights New Labor Laws in the New Year

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(San Francisco, CA) – As the New Year begins, the Department of Industrial Relations (DIR) reminds employers of new labor laws becoming effective in 2011. The intent of the new legislation varies from providing more flexibility to employers, to expanding paid leave for employees. The following new laws will go into effect on January 1,… [Read more]

Texas Reports a Third Year Decrease in the Number of Private Industry Job Related Injuries and Illnesses Requiring Days Off Work in 2009

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AUSTIN, TX -December 28, 2010- In November 2010, the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) reported 213,507 total cases of nonfatal injuries and illnesses in Texas in 2009. Based on data from the Bureau of Labor Statistics (BLS) Survey of Occupational Injuries and Illnesses, TDI-DWC is now reporting the circumstances of those injuries… [Read more]

The Economics of Spinal Implants…

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 Today’s edition of WorkCompRecap is once again a bit thin on “real” news, although I think WorkCompWire set a new record for automated “Out of Office ” replies received yesterday!   Fortunately, a colleague sent me a link to a Wall Street Journal (WSJ) article that ran recently regarding the spinal implant business that all… [Read more]

Meadowbrook Insurance Group, Inc. Announces Affirmation of A- (Excellent) A.M. Best Rating

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SOUTHFIELD, Mich., Dec. 27, 2010 /PRNewswire/ — Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced today the affirmation of A.M. Best Company’s financial strength rating of “A-” (Excellent) for Meadowbrook Insurance Group, Inc. (“Meadowbrook”) and its subsidiary insurance companies. A.M. Best also affirmed the issuer credit rating for Meadowbrook of “bbb-” and its subsidiary insurance companies… [Read more]