Oklahoma City– Insurance Commissioner John Doak announced recently that the Oklahoma Insurance Department on approved a filing by the National Council on Compensation Insurance reflecting a 1.7 percent decrease in the loss cost ratio used by many carriers to determine workers’ compensation insurance rates. The new loss cost data will… [Continue Reading]
Association, Rating & Research News
CWCI Report: CA Self-Insured Claim Frequency Down in 2010, But Avg. Claim Costs Rose
California – Workers’ compensation claim frequency among private self-insured employers in California registered a slight decline last year, but only because the incidence of low cost medical-only claims declined according to a new California Workers’ Compensation Institute (CWCI) analysis of data compiled by the state Office of Self-Insurance Plans (OSIP). Despite the marginal decline in… [Continue Reading]
WA L&I Offering Grants for Innovative Safety and Health Projects
TUMWATER – Have an innovative idea for training, equipment or some other way of improving workplace safety and health? There may be a grant waiting for you. The Department of Labor & Industries has announced a new round of grants available through the Safety and Health Investment Projects (SHIP) program. Applications are now being accepted with a deadline set for… [Continue Reading]
IAIABC and ACOEM Comment to Jurisdictions About Prescription Drug Abuse in Work Comp
We are writing today on behalf of the American College of Occupational and Environmental Medicine (ACOEM) and the International Association of Industrial Accident Boards and Commissions (IAIABC) to express our deep concern over the growing issue of prescription opioid abuse…[Continue Reading]
ACIC: Jones and WCIRB Pure Premium Benchmark Revamp is “Right Move”
SACRAMENTO, California – California Insurance Commissioner Dave Jones and the Workers Compensation Insurance Rating Bureau (WCIRB) are making the right move by reassessing how the pure premium rate is calculated, says the Association of California Insurance Companies…[Continue Reading]
Michigan Chamber of Commerce Endorses Workers’ Compensation Law Changes
LANSING, Mich. /PRNewswire/ — The Michigan Chamber of Commerce today announced its support for House Bill 5002, legislation which will update, reform and modernize key areas of the Michigan’s Workers’ Compensation Act (“Act”). “For too long, the workers’ compensation law has changed depending upon what judge hears a case…[Continue Reading]
WCIRB Testifies at Department of Insurance Public Hearing
San Francisco, CA – Recently, WCIRB President Robert Mike and Chief Actuary Dave Bellusci testified at a public hearing held by California Insurance Commissioner Dave Jones with respect to the WCIRB’s January 1, 2012 Pure Premium Rate Filing. In his testimony, Dave Bellusci presented information concerning the WCIRB proposed pure premium rates for…[Continue Reading]
NCCI Releases 2011 Claims Frequency Report
The Great Recession of 2007–2009 is likely the most serious and long lasting economic contraction since the Great Depression. Several factors related to the recession have had a considerable influence on claim frequency. Claim frequency for workers compensation injuries increased 3% in 2010, marking the first increase since 1997. Although claim frequency is…[Continue Reading]
WCIRB California Releases Q2 2011 Insurer Results Report
The WCIRB has completed its report summarizing insurer loss and premium experience through June 30, 2011. The Summary is based on data reported to the WCIRB by insurers who wrote about 100% of the statewide market. Highlights from the report include…[Continue Reading]
Accident Fund Holdings Earns Two Spots on the Best Places to Work in Insurance List for 2011
LANSING, Mich. /PRNewswire/ — Accident Fund Holdings, Inc., the nation’s tenth largest workers compensation insurer, is proud to announce that two of its operating companies – Accident Fund Insurance Company of America and United Heartland – have each been selected as Best Places to Work in Insurance for 2011 by… [Continue Reading]