Charlottesville, VA (Vocus/PRWEB) – An SNL Financial analysis of preliminary fourth-quarter statutory insurance data finds signs that the prolonged P&C soft market is hardening, contrary to earlier reports from other insurance data providers. U.S. property and casualty industry premiums grew at their fastest rate since 2006 in response to underwriting losses and unfavorable reserve development.… [Read more]
Association, Rating & Research News
URAC Awards Rising with Workers’ Compensation Utilization Management Accreditation
Chicago, IL – URAC, a Washington, DC-based healthcare accrediting organization that establishes quality standards for the healthcare industry, grants the Full Workers’ Compensation Utilization Management Accreditation to Rising Medical Solutions for a second time. Currently, Rising is one of just 40 companies in America with this accreditation. “Rising and URAC share a commitment to quality… [Read more]
Commission for Case Manager Certification Launches New Services to Streamline Certification, Continuing Education
MOUNT LAUREL, N.J., /PRNewswire/ — Newly board-certified case managers have typically waited six weeks or more to find out whether they passed the nation’s oldest and most respected certification exam. Now, candidates for the prestigious CCM® credential receive immediate feedback via Immediate Preliminary Scoring, one of two new services recently launched by the Commission for… [Read more]
Health Strategy Associates’ Survey Shows True Integration Missing in Workers’ Compensation Claims Systems
MADISON, CONN. — Workers’ compensation payers spend tens of thousands – even millions of dollars — upgrading and replacing their claims systems, so Health Strategy Associates (HSA) set out to capture payers’ opinions, perceptions and attitudes about them in its “First Annual Survey of Workers’ Compensation Claims Systems.” Key findings: There is a major disconnect… [Read more]
Oregon DCBS Releases Workers’ Compensation Premium Rate Ranking for Calendar Year 2010
The final, detailed report of Oregon’s 2010 Workers’ Compensation Premium Rate Ranking Study has been released. The results suggest that Oregon employers in the voluntary market pay, on average, the 41st highest workers’ compensation premium rates in the nation. Oregon’s premium rate index is $1.69 per $100 of payroll. National premium rate indices range from… [Read more]
NAIC Releases Select Market Share Data
WASHINGTON, D.C. – The National Association of Insurance Commissioners (NAIC) today released two sets of data that help identify leading insurance writers and provide an indicator of the degree of market concentration in lines of business. The 2010 market share data for life/fraternal and property/casualty insurers include countrywide direct written premium for the top 25… [Read more]
AIA Endorses Proposed Regulation Establishing Uniform Pharmaceutical Reimbursement Rates In Maryland
WASHINGTON, D.C., March 1, 2011 – The American Insurance Association (AIA), in its comments submitted yesterday to the Maryland Workers’ Compensation Commission, endorsed the establishment of uniform reimbursement rates for pharmaceuticals. AIA lauded the Commission’s proposal because it addresses a significant problem, in Maryland and in many states, where physician-dispensing of re-packaged drugs has been… [Read more]
A.M. Best Revises Outlook of The Cumberland Insurance Company, Inc.
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit rating (ICR) of “a-” of Cumberland Insurance Company, Inc. (CIC). “Risk Management and the Rating Process for Insurance Companies” A.M. Best also has affirmed the FSR of A- (Excellent)… [Read more]
PCI Calls For Improvements To Maryland Work Comp Proposal
ANNAPOLIS, Md.—While proposed amendments to Maryland workers’ compensation regulations represent an improvement from the emergency rule adopted January 4, 2010, the Property Casualty Insurers Association of America (PCI) still has concerns about their impact. The regulation, COMAR 14.09.01.19, would establish guidelines for reviewing and approving proposed workers’ compensation settlement agreements in compliance with the review… [Read more]
RAND Posts New Research Brief on Workers’ Comp Reform’s Effects on RTW
From the Brief: “In 2004, California passed Senate Bill 899 (SB 899), which introduced sweeping reforms to the workers’ compensation system designed to reduce employer costs and simultaneously improve outcomes for injured workers. It overhauled the permanent-disability rating system, reduced parties’ ability to “shop” for physicians, reformed medical treatment, and stimulated return to work by… [Read more]