Boca Raton, FL — NCCI Holdings, Inc. has released its annual State of the Line workers compensation market analysis and described the current state of the market as ‘deteriorating.’ This year’s report indicates that the workers compensation calendar combined ratio was 115 in 2010, up 5 points from 2009. “In 2010, NCCI defined the state… [Read more]
Workers' Compensation
Montana Governor Exercises Item Veto on Workers’ Comp Bill
Montana Governor Brian Schweitzer recently exercised his item veto powers on part of HB 604 related to Workers’ Comp changes, and issued the following statement: In accordance with the power vested in me as Governor by the Constitution and the laws of the State of Montana, I hereby deliver to you House Bill No. 604… [Read more]
A.M. Best Upgrades Issuer Credit Ratings of North American Casualty Group and Its Members
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has upgraded the issuer credit ratings (ICR) to “a+” from “a” of North American Casualty Group (NAC) and its members, California Insurance Company (San Francisco, CA) and Continental Indemnity Company (Cedar Rapids, IA), which operate under a pooling arrangement. A.M. Best also has affirmed NAC’s financial strength rating of A… [Read more]
Eastern Insurance Holdings, Inc. Announces First Quarter 2011 Results
LANCASTER, Pa., /PRNewswire/ — Eastern Insurance Holdings, Inc. (“EIHI” or the “Company”) (NASDAQ: EIHI) today reported earnings for the three months ended March 31, 2011. EIHI reported net income of $1.9 million, or $0.22 per diluted share, for the first quarter of 2011, compared to net income of $1.9 million, or $0.20 per diluted share,… [Read more]
Health Strategy Associates Announces Claims Systems Survey Webinar
MADISON, CONN. — Sandy Blunt and Joseph Paduda of Health Strategy Associates (HSA) will present findings from the firm’s first annual survey of workers’ compensation claims systems in a 60-minute webinar titled “A Disconnect in Work Comp Claims Systems” on Thursday, May 19 at 1:30 p.m. EDT. The survey compared the responses of two distinct… [Read more]
Montana Approves 22.5% Reduction in Workers’ Comp Costs
HELENA, Mont. – Commissioner of Securities and Insurance Monica Lindeen approved a 22.4 percent reduction in workers’ compensation insurance loss costs on Monday, which will translate to lower premiums for employers. The dramatically lower loss costs, which are the costs insurers pay for claims, come as a result of bipartisan legislation signed by the governor… [Read more]
CSC Unveils Cloud-Based Business Process Service for Workers’ Compensation Administration
FALLS CHURCH, Va.–(BUSINESS WIRE)–CSC (NYSE: CSC) today announced a first-of-its-kind business process service that harnesses the power of the Cloud to rapidly deliver production-ready, regulatory-compliant workers’ compensation (WC) processing for all 50 states. CSC’s new Business Process as a Service (BPaaS) offering takes traditional business process outsourcing (BPO) solutions to the next level by significantly… [Read more]
PMSI Releases 2011 Annual Drug Trends Report
TAMPA, Fla.–(BUSINESS WIRE)–PMSI, one of the nation’s largest and most experienced companies focused solely on workers’ compensation, today announced the release of its 2011 Annual Drug Trends Report. The 2011 report findings are based on data analysis of PMSI’s 5.4 million retail and mail order transactions during calendar years 2008 – 2010. “For 35 years,… [Read more]
New Progressive Medical White Paper Addresses Medical Foods in Workers’ Compensation
WESTERVILLE, Ohio–(BUSINESS WIRE)–Progressive Medical, Inc. released a new white paper, “Managing the Medical Foods Dilemma.” The white paper addresses the increasing role medical foods play in workers’ compensation and the surrounding concern due to lack of conclusive clinical evidence to validate medical foods’ effectiveness. The paper also offers insight to how payors can proactively control… [Read more]
Employers Holdings, Inc. Reports First Quarter Earnings and Announces Second Quarter Dividend
RENO, Nev.–(BUSINESS WIRE)–Employers Holdings, Inc. (“EHI” or the “Company”) (NYSE:EIG) today reported first quarter 2011 net income of $8.3 million or $0.21 per diluted share compared with $16.1 million or $0.38 per diluted share in the first quarter of 2010, a decrease of $7.8 million or $0.17 per share. Key Highlights: (Q1, 2011 compared to… [Read more]