AUSTIN, Texas – Texas Mutual Insurance Company announced today an $819,218 dividend to the National Federation of Independent Business (NFIB) safety group for manufacturers. The dividend was based largely on the group’s overall loss ratio. Bob Barnes, chair of Texas Mutual’s board of directors, and Ron Wright, Texas Mutual… [Continue Reading]
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TDI-DWC Reports 4th Year Decrease in Work-Related Injuries, Illnesses in 2010
AUSTIN, TX – Private industry employers in Texas reported a 5.8 percent decrease in nonfatal occupational injuries and illnesses involving days away from work during 2010 for a total of 56,720. The annual Bureau of Labor Statistics (BLS) Survey of Occupational Injuries and Illnesses revealed that there were 79.5 injuries and illnesses per… [Continue Reading]
WCIRB Appoints Bill Mudge President
San Francisco, CA – The Governing Committee of the Workers’ Compensation Insurance Rating Bureau announced today that it has named William J. Mudge as President and CEO effective December 19, 2011. Mr. Mudge replaces Timothy Benjamin who has served as interim president since the retirement of longtime president… [Continue Reading]
EMPLOYERS Announces Immediate 5% Workers’ Comp Discount for FL Small Biz
RENO, Nev.–(BUSINESS WIRE)–The Florida Office of Insurance Regulation has approved EMPLOYERS’ request to provide qualified Florida small businesses with an instant 5 percent discount on workers’ compensation policies in EMPLOYERS’ instant online quoting classes beginning January 1. Just in time for 2012 policy… [Continue Reading]
Broadspire Completes RiskTech Conversion
ATLANTA /PRNewswire/ — Broadspire®, a Crawford Company and leading third party administrator (TPA) and medical management services provider, has successfully completed its launch of the RiskTech claims management system, converting more than 10 million claims and retiring legacy systems… [Continue Reading]
Agencyport Software Launches New Version of BookSmart Supporting Workers’ Comp
BOSTON–(BUSINESS WIRE)–Agencyport Software (formerly Sword Insurance), a leading provider of software and services to the global insurance and reinsurance industries, today announced the immediate availability of BookSmart® 2.3, the latest version of its automated solution for migrating entire books of business… [Continue Reading]
Texas Mutual Board of Directors Elects New Officers
AUSTIN, Texas—The Board of Directors of Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, recently elected two new officers—Linda Foster-Smith of Georgetown and Jay Eisen of Beaumont. These officers were elected Wednesday, December 14 at the company’s December… [Continue Reading]
A.M. Best Downgrades Ratings of Accident Fund Group and Its Members
OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit ratings to “a-” from “a” of Accident Fund Group (Accident Fund) (Lansing, MI) and its members, which include Accident Fund Insurance Company of America and its subsidiaries… [Continue Reading]
Towers Watson: Commercial Insurance Prices Increase for Second Straight Quarter
NEW YORK–(BUSINESS WIRE)–Commercial insurance prices continue to rise, increasing an aggregate 2% during the third quarter of 2011 — the second straight quarter when all standard commercial lines showed an uptick in pricing. However, the increases are not enough to keep up with reported claim cost inflation levels… [Continue Reading]
No Change in California Workers’ Comp Medical Mileage Rate For 2012
California – The mileage rate that workers’ comp claims administrators pay injured workers for travel related to medical treatment or evaluation of their injuries will remain at 55.5¢ per mile for travel on or after January 1, 2012, regardless of the date of injury. California Labor Code §4600 (e)(2), in conjunction with Government Code… [Continue Reading]