Manasquan, NJ – During the 2019 NCOIL Annual Meeting in Austin, TX, the organization adopted the NCOIL Workers’ Compensation Drug Formulary Model Act sponsored by Indiana Representative Matt Lehman, 2020 NCOIL President. The Model passed without objection on a voice vote by both the Workers Compensation and the NCOIL Executive Committees. The Workers’ Compensation Committee… [Read more]
Association, Rating & Research News
AM Best Affirms Credit Ratings of Employers Holdings, Inc. and Subsidiaries
Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Employers Preferred Insurance Company and its pooled affiliates, collectively referred to as Employers Insurance Group (Employers). (See below for a detailed list of companies). Concurrently, AM Best has affirmed… [Read more]
NCCI Releases Q4 2019 Quarterly Economics Briefing
Boca Raton, FL – NCCI recently announced the release of the Q4 2019 edition of its Quarterly Economics Briefing, which examines the current state of the economy and implications for workers compensation insurance, and is separated into two sections: “Economic Outlook” and “Drilling Down”. Economic Outlook Key takeaways include: NCCI forecasts the annual average weekly… [Read more]
Jackie Secia Named CWCI Claims/Medical Director
Oakland, CA – Jacqueline (Jackie) Secia has been named the new Claims and Medical Director of the California Workers’ Compensation Institute (CWCI) according to Alex Swedlow, President of the Oakland-based research organization. Ms. Secia is a graduate of University of California, Irvine where she earned a bachelor’s degree in history. Her tenure in the California… [Read more]
CA WCIRB Releases Study on Impact of Physical Medicine on Opioid Use and Lost Time
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released a new study, Physical Medicine Treatments and Their Impact on Opioid Use and Lost Time in California Workers’ Compensation. The study reveals insights into the overall trends and patterns of physical medicine treatment cost and utilization. It quantifies the potential substitution… [Read more]
NCCI Introduces Donna Glenn as Chief Actuary
Boca Raton, FL – The National Council on Compensation Insurance (NCCI) recently introduced Donna Glenn as its new chief actuary, effective February 3, 2020. Ms. Glenn comes to NCCI from Liberty Mutual Insurance in Boston, MA, where she led casualty product and underwriting for Liberty’s national insurance business segment. One of her responsibilities was to… [Read more]
TDI-DWC Announces 2019 Performance Based Oversight Results
Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (DWC) recently released the 2019 Health Care Provider Performance Based Oversight (PBO) assessment. For 2019, health care providers were assessed on their performance in one of three categories: timely filing of the DWC Form-069, Report of Medical Evaluation; completeness of the DWC Form-073,… [Read more]
HEMIC Rated A (Excellent) with Stable Outlook by A.M. Best
Honolulu, HI – A.M. Best Co. recently affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Stable) for Hawai`i Employers’ Mutual Insurance Company, Inc. (HEMIC), the largest provider of workers’ compensation insurance in Hawai`i, serving over 6,700 businesses with over 75,000 workers. HEMIC has maintained an A rating… [Read more]
Best’s Market Segment Report: Declining Rates Could Threaten Profitability of WC Line
Oldwick, NJ -(BusinessWire)- Declining rates and growing competition in the U.S. workers’ compensation insurance segment could begin to challenge carriers’ ability to retain profitable accounts and maintain market share, according to a new AM Best report. The Best’s Market Segment Report, “Declining Rates Could Threaten Profitability of U.S. Workers’ Compensation Line,” states that rate decreases… [Read more]
New WCRI Report: How Claim Costs, Components of Costs, Outcomes Differ by Age
Cambridge, MA – As the American workforce ages and workers are more likely to continue working into their later years, a new FlashReport from the Workers Compensation Research Institute (WCRI) explores how injury rates, claim costs, the main components of claim costs, and postinjury worker outcomes differ by age. “Our goal is to help system… [Read more]