USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the promotion of Ron Capo to Producer/Broker: Commercial Lines in Covington, LA. Capo has been with USG since November of 2019 as an Associate Producer/Broker. In his new position as Producer/Broker: Commercial Lines, Ron will continue building his book of business and… Continue reading USG Announces Promotion of Capo in Covington, LA
Tag: Workers’ Compensation
Month-Over-Month Average Renewal Premium Rates for Some Lines Are Up
IVANS® today announced the October 2021 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, premium renewal rates rose for lines of business including Business Owner’s Policy (BOP), Commercial Property,… Continue reading Month-Over-Month Average Renewal Premium Rates for Some Lines Are Up
Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines Products
IVANS®, a division of Applied Systems®, today announced the results for Q4 and year-end 2020 IVANS Index™, the insurance industry’s premium renewal rate index. Q4 results showed an increase in the premium renewal rate change average across General Liability, Commercial Property, Umbrella and Workers’ Compensation compared to Q3; however, Workers’ Compensation average premium renewal rate… Continue reading Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines Products
Pie Insurance Launches Partner API
Pie Insurance, an insurtech specializing in workers’ comp insurance for small businesses, today launched its API for partners. Using Pie’s API, partners who serve small businesses can easily get a quote without leaving their platform or website, further streamlining the process of helping their clients save up to 30% on workers’ comp insurance. Partners can… Continue reading Pie Insurance Launches Partner API
U.S. Workers Comp Insurance Underwriting Profits to Normalize in 2021
The U.S. workers compensation insurance market is poised to report strong profitability in 2020, despite considerable economic challenges from the ongoing coronavirus pandemic, as declines in economic activity led to reduced claims frequency that are currently outpacing pandemic-related losses, Fitch Ratings says. However, underwriting performance in 2021 and beyond will likely deteriorate, as claims activity… Continue reading U.S. Workers Comp Insurance Underwriting Profits to Normalize in 2021
Arrowhead Simplifies Workers’ Comp Processing
Arrowhead General Insurance Agency Inc. today announced it has leveraged data integration to upgrade its Quick Quote system, further simplifying workers’ compensation quoting and binding for its producers and carrier partners. More than 180 class-specific questions have been removed in Quick Quote, speeding up the quote process while improving accuracy in binding and policy issuance.… Continue reading Arrowhead Simplifies Workers’ Comp Processing
Amazon Workers Hurt More Often than Industry Rate, Report Says
Amazon.com Inc. warehouse workers in the U.S. are getting hurt at a higher rate than the industry average, according to an investigative report. The rate of injuries contradicts more rosy assertions the company has made to lawmakers and the public, the Center for Investigative Reporting wrote in an article published on Tuesday. The report, published… Continue reading Amazon Workers Hurt More Often than Industry Rate, Report Says
Essential Workers in Many States Fighting for COVID-Related Workers Comp Benefits
Lauded for their service and hailed as everyday heroes, essential workers who get the coronavirus on the job have no guarantee in most states they’ll qualify for workers’ compensation to cover lost wages and medical care. Fewer than one-third of the states have enacted policies that shift the burden of proof for coverage of job-related… Continue reading Essential Workers in Many States Fighting for COVID-Related Workers Comp Benefits
AM Best Warns Against COVID-19 Workers’ Compensation Law
AM Best has warned that legal efforts in several US states to expand workers’ compensation coverage to allow employees to claim for COVID-19 will have a negative impact on re/insurers. The rating agency turned negative on workers’ compensation lines back in March due to the economic conditions and rise in unemployment that accompanied the pandemic,… Continue reading AM Best Warns Against COVID-19 Workers’ Compensation Law
California Makes Insurers Cut Workers’ Comp Premiums
California on Wednesday announced the first regulation requiring insurance companies to reduce premiums paid by employers for U.S. workers’ compensation insurance, citing lower risk factors as millions of employees work from home. Much like refunds on auto insurance policies prompted by lower driving risk under coronavirus lockdowns, California’s emergency regulation reflects the reduced risk of… Continue reading California Makes Insurers Cut Workers’ Comp Premiums