Austin, TX – The Texas Department of Insurance, Division of Workers’ Compensation (DWC) recently released the latest update to its report that provides information on the impact of COVID-19 on the state’s workers’ compensation system. The report provides ongoing information on COVID19 claims, including the percentage of claims that insurance carriers accepted or denied, as… [Read more]
Association, Rating & Research News
CA WCIRB Releases Third Quarter 2022 Experience Report
Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its Quarterly Experience Report. The report is an update on California statewide insurer experience valued as of September 30, 2022. Highlights of the report include: California written premium for the first nine months of 2022 is 15 percent above that for… [Read more]
CWCI Report Examines Trends in Utilization of Inpatient Care in CA Workers’ Comp
Oakland, CA – A new California Workers’ Compensation Institute (CWCI) study found that after across-the-board declines in California inpatient hospitalizations during the COVID-19 health care crisis of 2020, the number of inpatient stays paid under Medicare, Medi-Cal, and private coverage all began to rebound in 2021, but the number of workers’ compensation hospitalizations fell an… [Read more]
New WCRI Study Examines Emergency Department Use Among Injured Workers Across States
Cambridge, MA – A new 28-state study from the Workers Compensation Research Institute (WCRI) found substantial variation across states in the rates of emergency department (ED) use among workers seeking care for new injuries during the period from the first quarter of 2019 to the first quarter of 2021. “The substantial interstate variation in the… [Read more]
AM Best Assigns Credit Ratings to WCF Select Insurance Co; Affirms Credit Ratings of WCF Insurance Group’s Members
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]
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]