Oakland, CA – The California WCIRB recently released its 2018 WCIRB Geo Study. The study underscores the differences in costs of claims among California regions with the addition of a new web-based interactive map. The Study’s key findings are: After controlling for regional differences in wages and industrial mix, indemnity claim frequency is significantly higher… [Read more]
Association, Rating & Research News
TDI-DWC Announces 2018 Performance Based Oversight Results
Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (DWC) recently released its 2018 Insurance Carrier Performance Based Oversight (PBO) assessment. For 2018, insurance carriers were assessed on their performance for timeliness in the following categories: paying initial temporary income benefits; processing initial medical bills; processing requests for reconsideration of medical bills;… [Read more]
CA WCIRB Releases Third Quarter 2018 Experience Report
Oakland, CA – The WCIRB has released its quarterly update on California statewide insurer experience valued as of September 30, 2018. Highlights of the report include: California written premium for the first nine months of 2018 is $13.1 billion, which is 3% below the written premium reported for the first nine months of 2017. The… [Read more]
Pinnacol Warns Most Dangerous Place for Workers Could Be Their Vehicle
Denver, CO – Employers in Colorado should consider adding safe driver training for any employees who drive for work more than occasionally, according to workers’ compensation insurer Pinnacol Assurance. Pinnacol recently analyzed the collective impact of motor vehicle accidents on workers. According to Pinnacol claims data, motor vehicle accidents account for 40 percent of the… [Read more]
AM Best Affirms Credit Ratings of Berkshire Hathaway Homestate Insurance Company and Affiliates
Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating of A++ (Superior) and the Long-Term Issuer Credit Ratings of “aa+” 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 Credit Ratings (ratings) is… [Read more]
MedRisk 2018 Industry Trends Report Points to Conservative Care
King of Prussia, PA – While workers’ compensation claims frequency and occupational injury rates have declined over the past few years, the number of claims involving physical and/or occupational therapy rose by 13 percent, according to MedRisk’s 2018 Industry Trends Report on Physical Medicine and Workers’ Comp. Several factors contributed to the increased use of… [Read more]
AM Best Affirms Credit Ratings of Employers Holdings, Inc. and Subsidiaries
Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” of Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Assurance Company and Employers Preferred Insurance Company, collectively referred to as the Employers Insurance Group (Employers). Concurrently, AM Best has… [Read more]
WCRI Study: Medical Payments per Workers’ Comp Claim in NC Decreased from 2013-2016
Cambridge, MA – Medical payments per workers’ compensation claim in North Carolina decreased 6 percent per year since 2013, according to a recent 18-state study by the Workers Compensation Research Institute (WCRI). The recent decrease is a contrast with previous trends in the state. Medical payments per claim changed little from 2010 to 2013 after… [Read more]
TDI-DWC Releases Analysis of 2005 Reforms’ Impact on Workers’ Comp System
Austin, TX – The TDI-DWC recently released a pair of biennial reports to the Texas Legislature, the first of which examines the impact of the 2005 House Bill (HB) 7 reforms on the affordability and availability of workers’ compensation insurance for Texas employers and the impact of certified workers’ compensation health care networks on return-to-work… [Read more]
CA WCIRB Launches New Interactive Policy Year Stats Report
Oakland, CA – The California WCIRB has released a new report, Interactive Policy Year Stats that provides premium, exposure and loss information based on unit statistical report (USR) data submitted to the WCIRB for policy years 2003 to 2015. Replacing the WCIRB’s annual Summary of Policy Year Statistics report, the Interactive Policy Year Stats tool… [Read more]