Oldwick, NJ -(BusinessWire)- AM Best has assigned a Financial Strength Rating (FSR) of A (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a” (Excellent) to WCF Select Insurance Company (Roseville, CA). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has affirmed the FSR of A (Excellent) and the… [Read more]
Association, Rating & Research News
NCCI Releases New Interactive Report on Workers’ Comp Frequency and Severity
Boca Raton, FL – NCCI recently released a new report that provides an overview of countrywide changes in lost-time claim frequency and severity – analysis includes jurisdictions where NCCI provides ratemaking services. The COVID-19 pandemic and its economic impacts have had both direct and indirect effects on the workers compensation industry. There are more remote… [Read more]
AM Best Affirms Credit Ratings of American Financial Group, Inc. and Key Operating Subsidiaries
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 Great American Insurance Company and its pooling affiliates, collectively referred to as Great American Insurance Companies (Great American). Concurrently, AM Best has affirmed the Long-Term ICR of “a-”… [Read more]
CA WCIRB Report Examines Medical Characteristics of Cumulative Trauma Claims
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released a new report, Medical Characteristics of Cumulative Trauma Claims. Highlights of the report include: Indemnity claims are the key driver of cumulative trauma (CT) claim costs. CT indemnity claims have a higher payment share for medical-legal and medical liens services… [Read more]
NCCI Releases Workers’ Comp Industry Leadership Survey: Familiar Concerns, New Twists
Boca Raton, FL – Workers compensation executives are concerned about the uncertainty surrounding the economy, medical inflation, the shifting workforce and workplace, and rate adequacy according to the latest survey from the National Council on Compensation Insurance (NCCI). NCCI conducted the quantitative survey of 100 workers compensation executives recently, looking ahead to key issues for… [Read more]
AM Best Revises Outlooks to Positive for Employers Holdings, Inc. and Its Subsidiaries
Oldwick, NJ -(BusinessWire)- AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Employers Preferred Insurance Company and its pooled affiliates, collectively referred to as Employers Insurance Group (Employers). (See below for a… [Read more]
AmTrust 2022 Restaurant Risk Report: Mental Stress, Other Injuries Up Since COVID
New York, NY – AmTrust Financial Services, Inc. recently released the 2022 AmTrust Restaurant Risk Report, identifying common injuries and the resulting time off work for restaurant workers. AmTrust examined nearly 170,000 claims and found that while overall injuries are down, specific injuries, including crushing, fainting, inflammation, strains and mental stress, are up significantly compared… [Read more]
FAIR Health Study: Share of Patients with Heat Exhaustion Increased 53% from 2016-21
New York, NY – Among privately insured individuals receiving medical services, the percentage of patients diagnosed with heat exhaustion increased 52.5 percent when comparing June 2016 to June 2021. This was part of a general trend in which, from May to September, the percentage of patients who were diagnosed with heat stress, heat exhaustion or… [Read more]
CWCI: CA WC Public Self-Insured Claim Volume, Paid & Incurred Losses Soared In FY 2021/22
Oakland, CA – California’s public self-insured workforce increased less than 1% in the 12 months ending June 30, but the total number of public self-insured work injuries and illness claims reported to the state jumped 35%, as the medical-only claim count rose 29.9% while the number of indemnity claims soared by 38.1%. A CWCI analysis… [Read more]
TDI-DWC Extends Mandatory Data Call for Information on COVID-19 Injuries
Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (DWC) recently noted that on on June 8, 2022, it had extended its mandatory data call through December 2022 for certain information related to COVID-19 injuries reported to selected insurance carriers on or after December 1, 2019. DWC requested this information under Texas… [Read more]