SACRAMENTO, California – Today, the Association of California Insurance Companies (ACIC) and Property Casualty Insurers Association of America (PCIAA) announced that Mark Sektnan, ACIC Vice President, has been promoted to ACIC President. Following a distinguished career in the property/casualty industry Sam Sorich has announced his retirement. Sektnan will follow Sorich as ACIC President effective March… [Read more]
Association, Rating & Research News
US Labor Department’s OSHA Temporarily Withdraws Proposed Column for Work-related Musculoskeletal Disorders, reaches out to Small Businesses
WASHINGTON — The U.S. Department of Labor’s Occupational Safety and Health Administration today announced that it has temporarily withdrawn from review by the Office of Management and Budget its proposal to restore a column for work-related musculoskeletal disorders on employer injury and illness logs. The agency has taken this action to seek greater input from… [Read more]
NAIC Names 2011 Committee Leadership
WASHINGTON, D.C. — The National Association of Insurance Commissioners (NAIC) has named its 2011 committee chairs and vice chairs. “The diverse expertise of our membership is evident in this year’s committee leadership,” said Susan E. Voss, NAIC President and Iowa Insurance Commissioner. “I look forward to working with our members this year on the critical… [Read more]
New NCCI Workers’ Compensation Financial Update Newsletter Published
The decline in net written premiums for workers compensation is projected to continue this year, according to NCCI’s latest Financial Update newsletter. Among other findings: The net combined ratio for workers compensation is projected to show little change in 2010 On average, the approved WC bureau rates/loss costs decreased in 2010 Residual market premium continues… [Read more]
Employers’ Stephen Festa Named Secretary and Treasurer of California Insurance Guarantee Association Board
RENO, Nev., Jan. 12, 2011 /PRNewswire/ — EMPLOYERS® (NYSE: EIG), America’s small business insurance specialist®, today announced that Stephen V. Festa, senior vice president and chief claims officer, has been named secretary and treasurer on the Board of Governors of the California Insurance Guarantee Association (CIGA), a state-run body that pays the claims of insolvent… [Read more]
RIMS Unveils New Look
Bold new logo highlights RIMS’ commitment to an all-encompassing approach to risk. The Risk and Insurance Management Society, Inc. (RIMS) today unveiled a new appearance that emphasizes the organization’s growth strategy. By way of the initiative, which includes a contemporary new logo and compelling tagline (pictured above), RIMS aims to capture the evolving nature of… [Read more]
Florida Office of Insurance Regulation Releases Annual Workers’ Compensation Report
TALLAHASSEE, Fla. –Wednesday, January 05, 2011– The Florida Office of Insurance Regulation (Office) released to the Florida Legislature its 2010 Workers’ Compensation Annual Report on the state of the workers’ compensation insurance market in Florida. The report analyzed the availability and affordability of coverage for workers’ compensation insurance in Florida with data for the calendar year… [Read more]
Texas Reports a Third Year Decrease in the Number of Private Industry Job Related Injuries and Illnesses Requiring Days Off Work in 2009
AUSTIN, TX -December 28, 2010- In November 2010, the Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) reported 213,507 total cases of nonfatal injuries and illnesses in Texas in 2009. Based on data from the Bureau of Labor Statistics (BLS) Survey of Occupational Injuries and Illnesses, TDI-DWC is now reporting the circumstances of those injuries… [Read more]
Missouri Insurance Department Calls for Double-Digit Drop in 2011 Workers’ Comp Rates
Jefferson City, Mo. December 15, 2010 – After reviewing statewide data for insurance claims paid by employers for injured workers in 2010, the Missouri Department of Insurance is recommending a decrease in workers’ compensation rates for 2011. The department recommends insurers selling workers’ comp decrease their “loss costs” by 11.1 percent. Loss costs are a prediction… [Read more]
TDI-DWC Announces Performance Based Oversight Results for Insurance Carriers
AUSTIN, TX – The Texas Department of Insurance, Division of Workers’ Compensation (TDI-DWC) today announced the results of the latest Performance Based Oversight (PBO) assessment of insurance carriers in the workers’ compensation system. A total of 113 insurance carriers were reviewed with 40 carriers deemed as high performers, 70 carriers deemed average performers and three… [Read more]