Boca Raton, FL – NCCI recently released its Quarterly Economics Briefing report for the fourth quarter of 2022, which addresses the critical issues impacting the US labor market and the impact of immigration on the reduced labor force. Insurance executives identified the economy and the shifting workforce/workplace as some of the top concerns for the… [Read more]
Association, Rating & Research News
AM Best Affirms Credit Ratings of Berkshire Hathaway Homestate Insurance Co and Affiliates
Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating (FSR) of A++ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa+” (Superior) of Berkshire Hathaway Homestate Insurance Company (Omaha, NE) and its five property/casualty affiliates. These companies collectively are referred to as Berkshire Hathaway Homestate Companies (BHHC). The outlook of these… [Read more]
New WCRI Study: 7 Percent of Workers with COVID-19 Claims Developed Long COVID
Cambridge, MA – A new study from the Workers Compensation Research Institute (WCRI) found that 7 percent of workers with COVID-19 claims received treatment for long COVID after the acute period of the infection. While long COVID prevalence was the highest among workers who were hospitalized during an acute stage of disease, even some workers… [Read more]
Workers Compensation System and NCCI Begin Milestone Year
Boca Raton, FL – A milestone year for the workers compensation system has started as the National Council on Compensation Insurance (NCCI) launches its 100th anniversary celebration. NCCI was created in 1923 to foster a healthy, stable market for workers compensation. “NCCI’s mission today is the same as it was a century ago,” said Bill… [Read more]
NYSIF Releases Novel Report on Long-Term Impacts of Covid-19
New York, NY – The New York State Insurance Fund (NYSIF) recently released a report analyzing its Covid-19 workers’ compensation claims to shine a light on Long Covid, a multifaceted syndrome causing new, returning, or ongoing symptoms in people after their initial infection. “As a large insurer with a public purpose, NYSIF is uniquely positioned… [Read more]
NCCI Releases Second Report on Inflation and Workers Compensation Medical Costs
Boca Raton, FL – NCCI recently released the second of four installments in a new series on inflation and workers compensation medical costs. In today’s ever-changing environment, there is no shortage of questions on inflation and how medical costs may be impacted. In fact, workers compensation stakeholders indicate this is one of the top-of-mind issues… [Read more]
TDI-DWC Releases Latest Update on COVID-19 in TX Workers’ Compensation System
Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (DWC) recently released the latest update to its report that provides information on the impact of COVID-19 on the state’s workers’ compensation system. The report provides ongoing information on COVID19 claims, including the percentage of claims that insurance carriers accepted or denied, as… [Read more]
CA WCIRB Releases Third Quarter 2022 Experience Report
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its Quarterly Experience Report. The report is an update on California statewide insurer experience valued as of September 30, 2022. Highlights of the report include: California written premium for the first nine months of 2022 is 15 percent above that for… [Read more]
CWCI Report Examines Trends in Utilization of Inpatient Care in CA Workers’ Comp
Oakland, CA – A new California Workers’ Compensation Institute (CWCI) study found that after across-the-board declines in California inpatient hospitalizations during the COVID-19 health care crisis of 2020, the number of inpatient stays paid under Medicare, Medi-Cal, and private coverage all began to rebound in 2021, but the number of workers’ compensation hospitalizations fell an… [Read more]
New WCRI Study Examines Emergency Department Use Among Injured Workers Across States
Cambridge, MA – A new 28-state study from the Workers Compensation Research Institute (WCRI) found substantial variation across states in the rates of emergency department (ED) use among workers seeking care for new injuries during the period from the first quarter of 2019 to the first quarter of 2021. “The substantial interstate variation in the… [Read more]