Oldwick, NJ -(BusinessWire)- AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Ratings of “aa-” (Superior) of WestGUARD Insurance Company, AmGUARD Insurance Company, EastGUARD Insurance Company, NorGUARD Insurance Company and AZGUARD Insurance Company (Omaha, NE), which operate under an intercompany pooling agreement. These companies are members of Berkshire… [Read more]
Association, Rating & Research News
Triple-I Issues Brief: Workers Compensation Insurers Show Strength
New York, NY – U.S. workers compensation insurers were able to underwrite profitably between 2019 and 2022 even as significant changes occurred in the nation’s workforce due to the pandemic, according to the Insurance Information Institute (Triple-I). “The line’s underwriting profitability for private carriers represented by the combined ratio remains strong,” stated the just-released Triple-I… [Read more]
CA CHSWC Releases 2022 Annual Reports
Oakland, CA – The California Commission on Health and Safety and Workers’ Compensation (CHSWC) recently released two annual reports, one for the Commission’s work and one to evaluate the Worker Occupational Safety and Health Training and Education Program (WOSHTEP). CHSWC’s 2022 annual report, the Commission’s 28th, presents information about the health and safety and workers’… [Read more]
RetailFirst Insurance Group Insurers A- (Excellent) AM Best Rating Affirmed
Lakeland, FL – RetailFirst Insurance Group recently announced that AM Best has affirmed the Financial Strength Ratings of A- (Excellent) of its insurers RetailFirst Insurance Company and BusinessFirst Insurance Company®. This is the sixth consecutive year that both companies have received an A- (Excellent) Financial Strength Rating from AM Best. The rating is based on… [Read more]
CA WCIRB Releases 2023 State of the CA Workers’ Comp System Report
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently announced the release of its 2023 State of the System Report. This report highlights key metrics of the California workers’ compensation system, including the latest trends on rates, market characteristics and profitability. This annual report is developed to provide workers’ compensation professionals… [Read more]
NCCI Releases Q2 2023 Quarterly Economics Briefing
Boca Raton, FL – NCCI recently released its Quarterly Economics Briefing report for the second quarter of 2023, which examines economic indicators to assess the likelihood and shape of a potential recession. NCCI noted that the US labor market remains strong. In the second quarter of 2023, employment growth held steady and wage growth remained… [Read more]
Retailers Casualty Insurance Company AM Best Rating Affirmed
Baton Rouge, LA – Retailers Casualty Insurance Company recently announced that AM Best has affirmed its Financial Strength Rating of A- (Excellent). The rating is based on the insurer’s financial strength and the ability to meet ongoing insurance policy and contract obligations. The company has received an A- (Excellent) Financial Strength Rating from AM Best… [Read more]
AM Best Upgrades Credit Ratings for Dakota Group’s Members
Oldwick, NJ -(BusinessWire)- AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “a” (Excellent) from “a-” (Excellent) of Dakota Truck Underwriters and First Dakota Indemnity Company. The outlook of these Credit Ratings (ratings) has been revised to stable from positive. These companies are… [Read more]
Enlyte Releases Part Three of Pharmacy Solutions Drug Trends Report
San Diego, CA – Enlyte recently released the third portion of its Pharmacy Solutions Drug Trends Series Report, which analyzes the state of pharmacy trends in workers’ comp. In part three of the series, Enlyte explores trends experienced in the opioid drug category, noting that opioids continue to represent a decreasing proportion of overall scripts… [Read more]
Best’s Market Segment Report: Workers’ Comp Remains a Profit Engine for P/C Industry
Oldwick, NJ -(BusinessWire)- Workers’ compensation insurers’ underwriting results continued to outpace the rest of the U.S. property/casualty (P/C) commercial sector in 2022, as they benefited from the long-term decline in workplace accidents and a reduction in fraudulent claims, according to a new AM Best report. The Best’s Market Segment Report, “Workers’ Compensation Remains a Profit… [Read more]