Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its Quarterly Experience Report. The report provides an update on California statewide insurer experience valued as of June 30, 2022. Highlights of the report include: California written premium for the first six months of 2022 is 27 percent above that for… [Read more]
Association, Rating & Research News
NCCI Insights Brief Examines The Great Reshuffle & Workers’ Compensation Frequency
Boca Raton, FL – NCCI recently released a new Insights Research Brief, noting that the Great Reshuffle is reshaping the US labor market. Unemployment is historically low, but labor force participation is still lower than the pre-pandemic rate. Labor shortages have led to wage growth, especially strong among low-wage workers and in sectors like Leisure… [Read more]
AM Best Affirms Credit Ratings of Saturn Insurance Inc.
London -(BusinessWire)- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Saturn Insurance Inc. (Saturn) (Burlington, VT). Saturn is a captive of BP p.l.c. (bp), an integrated global energy company. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Saturn’s… [Read more]
AM Best Affirms HEMIC’s Rating of “A” (Excellent)
Honolulu, HI – AM Best has affirmed the Financial Strength Rating of “A” (Excellent) and the Long-Term Issuer Credit Rating of “a” for Hawaii Employers’ Mutual Insurance Company (HEMIC), the largest provider of workers’ compensation insurance in Hawai`i. HEMIC has maintained an A rating from AM Best every year since they were first rated in… [Read more]
AM Best Upgrades Credit Ratings for Members of Encova Mutual Insurance Group
Oldwick, NJ -(BusinessWire)- AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) for the members of Encova Mutual Insurance Group (Encova). The outlook of these Credit Ratings (ratings) have been revised to stable from positive. Concurrently,… [Read more]
CA WCIRB Releases Report on 2021 Workers’ Compensation Aggregate Medical Payment Trends
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released California Workers’ Compensation Aggregate Medical Payment Trends – Updated through Calendar Year 2021. The new report compares medical payment information from 2019 through 2021. The annual report analyzes medical payment and utilization trends by provider type, service locations and different service… [Read more]
NCCI Insights Examines AMA Guides’ Digital Connection to Workers’ Compensation
Boca Raton, FL – The National Council on Compensation Insurance (NCCI) recently released a new Insights report that examines how the American Medical Association has gone digital with its updates to the sixth edition of the AMA Guides to the Evaluation of Permanent Impairment (AMA Guides). The new article examines the potential impact of recent… [Read more]
AM Best Revises Outlooks to Negative for Hawaii Employers’ Mutual Insurance Company, Inc.
Oldwick, NJ -(BusinessWire)- AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of Hawaii Employers’ Mutual Insurance Company, Inc. (HEMIC) (Honolulu, HI). The Credit Ratings (ratings) reflect HEMIC’s balance sheet strength, which AM Best assesses as… [Read more]
NSC Releases New Guidance on Preventing Workplace Violence
Washington, DC – Workplace violence is on the rise, yet nearly half of U.S. employers report they are unprepared to prevent and respond to incidents on the job. Recognizing this critical gap in safety preparedness, the National Safety Council recently released a report and playbook through its Work to Zero initiative: Workplace Violence: Using Technology… [Read more]
CA WCIRB Releases 2022 Edition of Interactive Industry Stats Report
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released the 2022 Edition of its Interactive Industry Stats report. The report provides premium, exposure and loss information based on unit statistical report data submitted to the WCIRB for policy years 2003 to 2019. In addition to policy year information, some loss… [Read more]