Archive for the ‘workers comp market’ Category

IN-DEPTH: A Look at How New York Workers Comp Reform Will Impact Carriers, Brokers and Employers

February 6, 2012 New York Governor Andrew Cuomo in January during his state of the state address announced Workers Comp reform as part of his 2013-2014 fiscal year budget proposal. Immediately after the reforms were announced, industry groups, including the Property Casualty Insurers Association of America (PCI) and the American Insurance Association (AIA), and the […]

KBW predicts modest rate increases for P/C insurers in 2013

Business Insurance December 12, 2012 Modest rate increases but little improvement in underlying underwriting profitability are likely to continue for the property/casualty insurance industry in 2013, according to an analysis released Wednesday by Keefe Bruyette & Woods Inc. The industry remains overcapitalized despite increased shareholder dividends, share repurchases and increased catastrophe losses, said KBW in […]

New Jersey Regulator Approves 8.3% Workers’ Comp Rate Increase

New Jersey's top insurance regulator has approved as of January 1, 2013 an 8.3% increase in workers' compensation rates –  the third in as many years – in response to a filing by the New Jersey Compensation Rating and  Inspection Bureau, largely driven by rising medical costs. New Jersey joins several large states that are […]

MarketScout: Rate Increases Continue Through Nov. for Both Commercial and Personal Lines

PropertyCasualty360 December 6, 2012 Rates in both commercial and personal lines insurance continued to increase through November, according to the electronic exchange MarketScout. Commercial-lines accounts increased an average of 5 percent in November compared to the same period last year and personal lines increased by 4 percent, the Dallas-based company says. In October, commercial line […]

AIG Core Insurance Operations Back to Using AIG Brand

Business Wire November 12, 2012 American International Group, Inc. (NYSE: AIG) today announced that AIG is again the go-to-market brand of its global property casualty business in most locations, and that the company’s life and retirement segment is now AIG Life and Retirement. As part of the rebrand, AIG has also introduced a new brand […]

Workers Compensation Insurance Pricing Up

Business Insurance September 11, 2012 Towers Watson reported this week that workers comp insurance pricing rose by “high single digits” during the second quarter of 2012. According to Towers Watson's commercial lines insurance pricing survey, commercial lines prices were up 6% overall during the second quarter of 2012 compared to the same quarter a year […]

MarketScout: Workers Comp Rates Continue To Rise

Property Casualty 360   September 5, 2012 Average rate increases for commercial and personal insurance lines continued their upward push through August rising an additional point over the prior month, says MarketScout. The Dallas-based electronic exchange’s property and casualty commercial insurance market barometer puts the composite rate for U.S.-based commercial risks up 5 percent for […]

Teams face workers’ comp threat

ESPN August 30, 2012. Claims move toward head trauma, a change that could cost NFL teams millions National Football League teams are facing a significant threat to their finances because of a legal option available to nearly every janitor, teacher and cashier in America — workers' compensation. Playing professional football is inherently dangerous, but the known […]

Rates Rising, But Not Enough for Sustained Underwriting Profits

Property Casualty 360 August 27, 2012 P&C insurance rates are rising, and pricing momentum is expected to continue through 2012, but some observers say increases might moderate in 2013 and that the industry will not see a hard market marked by strong underwriting profitability. In a Special Comment on Q2 earnings published Aug. 20, Moody’s […]

Insurers Seek 6.1% Increase in Florida Workers Compensation Rates

Insurance Journal August 24, 2012 Florida employers may see their workers’ compensation rates increase as the National Council on Compensation Insurance announced it is seeking a statewide average 6.1 percent rate hike on behalf of insurers. If approved, the NCCI filing would mark the third consecutive increase, following a 7.8 percent jump in 2011 and […]