Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company (Omaha, NE), which operate under an intercompany pooling agreement. These companies are members of Berkshire Hathaway… [Read more]
Association, Rating & Research News
NCCI Announces Annual Issues Symposium 2020 to Go Virtual, Now Open to All
Boca Raton, FL – The National Council on Compensation Insurance (NCCI) recently announced that it is reconfiguring its Annual Issues Symposium 2020 as a virtual event due to the coronavirus (COVID-19) pandemic. NCCI will hold AIS Virtual online on May 12, 2020, beginning at 1:00 p.m. ET. It will be free and open to everyone… [Read more]
Best’s Special Report: Rating Downgrades Outnumber Upgrades in 2019
Oldwick, NJ -(BusinessWire)- For the first time in five years, credit rating downgrades for the U.S. property/casualty (P/C) industry outnumbered upgrades on a marginal basis in 2019, according to a new AM Best special report. The Best’s Special Report, titled, “Rating Downgrades Outnumber Upgrades in 2019,” states that the number of downgrades rose by over… [Read more]
WCRI Posts Writeup on “Recession, Fear of Job Loss, and Return to Work” Study
Boca Raton, FL – WCRI recently published a new blog write up in light of the economic disruptions being caused by the COVID-19 virus, which sheds light on how a typical recession affects the return to work of injured workers using a study WCRI released in 2010. The study Recession, Fear of Job Loss, and… [Read more]
Today: Triple-I To Brief Insurance Regulators On COVID-19’s Market Impact
New York, NY – The Insurance Information Institute (Triple-I) will deliver an online presentation to state regulators this week on the financial impact/policy coverage issues raised by COVID-19 in the U.S.’s property/casualty (P/C) insurance markets. The Triple-I’s remarks will be delivered as part of the National Association of Insurance Commissioners’ (NAIC) special session on COVID-19,… [Read more]
Broadspire Releases White Paper on Workers’ Compensation Impacts of 2019 Coronavirus
Atlanta, GA – Broadspire recently announced the release of a white paper to look at how COVID-19 and similar occupational diseases are viewed in a workers compensation context. As the 2019 Coronavirus (COVID-19) begins to spread in the United States, questions of the impact on workers compensation claims are beginning to arise. Each day, employees… [Read more]
RIMS Cancels 2020 Conference & Exhibition
New York, NY – RIMS recently released the following statement from CEO Mary Roth and 2020 President Laura Langone regarding the society’s 2020 Annual Conference & Exhibition: “For the first time in the Society’s 70-year history, it is with a heavy heart that RIMS regretfully must cancel its 2020 Annual Conference & Exhibition. We can’t… [Read more]
IAIABC Cancels 2020 Forum Event, Evaluating Virtual Option
Middleton, WI – The IAIABC has announced that it will not be holding The Forum face-to-face in Clearwater, Florida, April 27-30, 2020 due to concerns over COVID-19 (novel coronavirus). IAIABC noted that the safety and health of its staff, members, and the general population is of the utmost importance to the Association. The Forum conference… [Read more]
ClearPath Mutual’s Financial Strength Affirmed by AM Best
Louisville, KY – ClearPath Mutual Insurance Company recently announced that AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-”. The outlook for both ratings is stable. “We were told by AM Best that the A- rating is based on our consistency of positive results. This… [Read more]
RIMS Releases New Report on Foreign Voluntary Workers’ Compensation
New York, NY – While Foreign Voluntary Workers Compensation (FVWC) stand-alone policies still originate from the United States, it is important to note that this necessary coverage is not just for U.S. travelers, according to RIMS new professional report titled, “Demystifying Foreign Voluntary Workers Compensation.” The report provides an overview and advantages of FVWC policies,… [Read more]