California’s Insurance Commissioner Ricardo Lara has announced a new, reduced rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 to $1.38 per $100 of payroll.
Tag: Workers’ Compensation insurance
U.S. Workers’ Compensation Market Leads the Industry in Profitability: NCCI
The U.S. workers compensation insurance market has the “strongest profitability” of all lines of property/casualty business, posting an 86% combined ratio in 2023, according to the National Council on Compensation Insurance’s (NCCI) annual State of the Line repor
PetroSure Partners with AmTrust to Deliver Workers’ Comp to the Upstream Onshore Oil and Gas Industry
PetroSure, a highly specialized multi-line coverage program for the onshore oil and gas industry, has partnered with AmTrust Specialty Programs to provide industry-focused workers’ compensation coverage.
AI Reduces Legal Involvement in Workers’ Compensation Lost-Time Claims by 15%, Saving Insurers Millions
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced the results of a comprehensive research study showing that AI-enabled workers’ compensation claims management reduced legal involvement for lost-time claims by 15%.
Pie Insurance Lays Offs 14% of Its Workforce as Part of Company’s Wider Budget Revision Process
US-based tech-enabled provider of workers’ compensation insurance to small businesses Pie Insurance has laid off 14% of its workforce, or 66 employees.
AM Best Assigns Credit Ratings to Pie Insurance Company
AM Best has assigned a Financial Strength Rating of A- (Excellent) to Pie Insurance Group.
VGM Insurance Services Launches Proprietary Workers’ Compensation Program
The new offering provides organizations in the allied healthcare field with an easy, competitively priced solution to protect their employees and their business.
California Work Comp Written Premium Up 27% in First Half 2022 Over Last Year
The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its Quarterly Experience Report. This report is an update on California statewide insurer experience valued as of June 30, 2022. Highlights of the report include: California written premium for the first six months of 2022 is 27 percent above that for the first six… Continue reading California Work Comp Written Premium Up 27% in First Half 2022 Over Last Year
Behavorial Health Care Integral to a Worker’s Recovery Post-Injury
As concerns about behavioral health problems increased in recent years, the Workers Compensation Research Institute (WCRI) heard through system stakeholder interviews that early screening for psychosocial risk factors is important to prevent delayed recovery. “The COVID-19 pandemic put a spotlight on the importance of behavioral health,” said John Ruser, president and CEO of WCRI. “In… Continue reading Behavorial Health Care Integral to a Worker’s Recovery Post-Injury
Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums
According to a new report from the Independent Insurance Agents and Brokers of America (the Big I), independent insurance agents place approximately 62% of all P&C premiums written in the United States. Big ‘I’s Market Share Report is released every two years and can help users understand the current insurance marketplace and opportunities and evolving… Continue reading Going Strong: Independent Agents Place 62% of All P&C U.S. Premiums