Columbus, OH – Robert S. Palmeri, CFA has been named Chief Investment Officer (CIO) Designee of the Ohio Bureau of Workers’ Compensation (BWC). Palmeri has vast experience in investments and investment plan management. Prior to joining BWC, he was an Executive Director with UBS Realty Investors LLC, one of the largest private real estate managers… [Read more]
Industry News
CWCI to Relocate to New Oakland Offices in February
Oakland, CA – The California Workers’ Compensation Institute (CWCI) recently announced it is moving to a new office in Oakland on February 21. CWCI will be relocating to 1999 Harrison St., Suite 2100, Oakland, CA 94612. The new suite of offices is in the Lake Merritt Plaza complex, across the street from the Kaiser Center… [Read more]
Ohio BWC Board of Directors Considering an 8% Rate Reduction
Columbus, OH – Ohio’s private employers would pay nearly $90 million less in premiums next fiscal year due to an 8% rate reduction proposed to the agency’s Board of Directors. If approved in February, the reduction would take effect July 1, 2023. “We are eager to once again lower rates for Ohio employers,” Administrator Logue… [Read more]
Old Republic Reports Results for Fourth Quarter and Full Year 2022
Chicago, IL – Old Republic International Corporation (NYSE: ORI) recently reported pretax income, excluding investment gains (losses), of $300.6 for the quarter and $1,058.6 for the full year 2022. Results are within our expectations, with General Insurance pretax operating income rising 34.6% for the quarter, while the effect of increasing mortgage interest rates contributed to… [Read more]
Manhattan DA Announces Indictment in $7 Million Workers’ Comp Insurance Fraud
New York, NY – Manhattan District Attorney Alvin Bragg, Jr., recently announced the indictment of Oneteam Restoration, Inc., its owner and president Mario Rojas, Jr., and Certified Public Accountant (“CPA”) Steven Lyon for defrauding the New York State Insurance Fund (“NYSIF”) of more than $7 million in workers’ compensation insurance premium payments by filing doctored… [Read more]
New WCRI Study: 7 Percent of Workers with COVID-19 Claims Developed Long COVID
Cambridge, MA – A new study from the Workers Compensation Research Institute (WCRI) found that 7 percent of workers with COVID-19 claims received treatment for long COVID after the acute period of the infection. While long COVID prevalence was the highest among workers who were hospitalized during an acute stage of disease, even some workers… [Read more]
APCIA Announces 2023 Class of Emerging Leaders
Washington, DC – The American Property Casualty Insurance Association (APCIA) announces the 2023 class of Emerging Leaders, representing 144 insurance professionals from across a broad spectrum of the industry. The rising stars are invited to attend the 2023 Emerging Leaders Conference February 5-7 in Charleston, South Carolina, which is held in conjunction with Insurance Careers… [Read more]
ManageWare Achieves SOC 2 + HITRUST CSF Type 2 Certification
Mesa, AZ – ManageWare, LLC recently announced that it has successfully achieved its SOC 2 + HITRUST Type 1 report as part of its efforts to maintain the highest levels of security and process integrity. This is accomplishment is part of an ongoing strategic initiative that has the company on track to achieve their next… [Read more]
CA DWC Posts Revised Adjustment to Official Medical Fee Schedule (Ambulance Services)
San Francisco, CA – The California Division of Workers’ Compensation (DWC) issued an order dated November 28, 2022 adjusting the Ambulance Services section of the Official Medical Fee Schedule (OMFS) to conform to Calendar Year 2023 changes in the Medicare payment system as required by Labor Code section 5307.1. Thereafter, on January 9, 2023, the… [Read more]
Sedgwick Releases “Imagine 23” Looking Ahead to This Year’s Industry Trends
Memphis, TN – Sedgwick recently released its “Imagine 23” report of major industry trends and issues that employers, brokers, carriers, risk managers, human resources professionals and product safety experts should be aware of throughout the coming year. “We’re living in a world of constant change and evolving challenges,” said Kathy Tazic, managing director, client services… [Read more]