Travelers Insurance Company will pay $10.5 million in refunds and penalties for violations of California insurance law. This is the same story all over again. This year it's Travelers in California. Last year, it was ACE, Zurich, CNA, PMA in New York. Brokers, there is plenty more money from these overcharges due to your clients. […]
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zywave Comments Off on Travelers to Pay Premium Refunds; Joins ACE, Zurich, CNA, and PMA who Have Already Paid for Workers Comp Overcharged Premiums |
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A Close Look at the State of Workers Comp, Future Changes, & Solutions to Recovering Premiums Featuring Simon Feuer, president, APEX Services Posted on 13 Jun 12 by Program Business's Annie George There has been much ado about the Workers Compensation market over the last several years, and particularly in the last six months or […]
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zywave Comments Off on Apex Services Featured In Program Business Article! |
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Tue Jun 12, 2012 4:05pm EDT Fitch: Workers' Compensation Remains Weakest Commercial Lines Segment Workers' compensation, the largest commercial lines segment representing approximately 18% of commercial lines net written premiums in 2011, posted a statutory combined ratio of 117% in 2011, according to a new report by Fitch Ratings. This result is 9.5 percentage points […]
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zywave Comments Off on Workers Compensation Brokers Should Prepare as market hardens with major workers comp premium increases |
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By Chad Hemenway, PropertyCasualty360.com June 6, 2012 MarketScout says the composite rate for commercial insurance placed in the U.S. in May was up 4 percent compared to the same month a year ago. In his comments on the month’s rate activity, Richard Kerr, chief executive officer of MarketScout, predicts additional increases in pricing for […]
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zywave Comments Off on MarketScout: Workers Comp Leading All lines of insurance with 5% increase in may |
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Business Insurance Sheena Harrison June 5, 2012 CHICAGO—The property/casualty insurance market is hardening, but it is unclear whether rate increases are here to stay, panelists said Monday during the 2012 Harold H. Hines Jr. Memorial Symposium. Three panelists discussed the evolving market and economic challenges during the symposium, titled “Navigating the Changing Marketplace.” About 150 […]
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zywave Comments Off on Property casualty insurance market hardening but outlook hazy: Hines panelists |
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Source: California Department of Insurance California Insurance Commissioner Dave Jones on Tuesday approved an advisory pure premium of $2.49 per $100 of payroll, effective July 1. The new advisory rate is 8.26% higher than the $2.30 rate that took effect Jan. 1. The Workers’ Compensation Insurance Rating Bureau recommended a rate of $2.51, but Jones […]
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workers compensation brokers Comments Off on WCIRB California gets approval for 8% Hike in Pure Premium |
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A recent survey leads The Council of Insurance Agents & Brokers to declare that the commercial property and casualty market has hardened. “We’ve been cautious up to now about declaring a market turn, but I think it’s reasonable to say that the market has made a hard turn after two quarters of price increases and […]
MarketScout, the Dallas-based electronic insurance exchange, reported the largest rate increase in April was for workers’ compensation at 4%, while general liability rates rose 3%. This seems to be in line with the ongoing trend. It would be hard to see rates not increasing when insurance companies are reporting no investment income, as well as […]
The NCCI released its Workers Compensation Issues Report May 3, 2012, outlining the challenges that the Workers Compensation market continues to face. What particularly stands out in the report is the increase in injury claims frequency in 2010 for the first time in 13 years. After adjusting the data for certain distortions, which initially showed […]
