Business Insurance July 25, 2012 Workers compensation insurance prices rose about 9% during the second quarter, Liberty Mutual Group Insurance's President and CEO David H. Long said today during a quarterly results teleconference. And the insurer is still seeking price increases across all its commercial-lines business “led by workers comp and property,” Mr. Long said. […]
PropertyCasualty360 July 23, 2012 Remarkable unanimity reigns among the dozen carrier and broker executives offering their assessment of current conditions in the commercial-lines market. Prices are clearly upward bound, with Workers’ Comp leading the way, followed by Commercial Property (especially in cat-prone areas). But new business is still being priced at lower rates than renewals. […]
PropertyCasualty360 July 18, 2012 As the workers’ compensation line continues to experience poor underwriting results and strong momentum toward rate increases, more companies are turning toward forming captives to combat rising costs, a Marsh executive says. Speaking today during a Webinar to discuss the Marsh Global Insurance Market Quarterly Briefing, Jonathan Zaffino, leader of Marsh’s […]
July 16, 2012 MarketWatch Net premiums written (NPW) by U.S. competitive state compensation funds experienced a 7.1% increase in 2011, reversing a yearly trend that began in 2004, according to a new report from A.M. Best Co. These state funds, which make up a significant portion of A.M. Best's U.S. workers' compensation composite, generally serve […]
New York Compensation Rating Board’s application submitted to the Department of Financial Services on May 15, 2012, to increase loss costs by an average 11.5% effective October 1st has been disapproved by State Financial Services Superintendent Benjamin Lawsky, citing that “A loss cost increase at this time – resulting in increased workers’ compensation premiums – […]
Modified ex-mods penalize poor risks Business Insurance – Roberto Ceniceros July 16, 2012 Employers with poor loss histories will pay even more for their workers comp coverage starting next year as most states change the way premiums are calculated. But policyholders with proven risk management practices and safety programs that reduce workplace injuries will benefit […]
Recently, I added a new page to my website called the “experience rating split point change.” Within the past few days, I've seen a lot of articles floating around regarding the experience rating split point change. Although these articles do provide some valid and helpful information, I wanted to post a blog to give my […]
Reinsurance Rate Increases Moderating at July 1 PropertyCasualty360.com – July 10, 2012 Reinsurance renewals continue to firm, but ample capacity is offsetting some pricing pressures produced by past catastrophe activity and catastrophe-model changes, says reinsurance broker Guy Carpenter. “In 2011 the industry experienced one of its most challenging years, due to the tremendous volume […]
Best solution for NCCI new experience rating split point change announced by Simon Feuer, President of Apex Services. Jul 09, 2012 – Apex Services is a leading provider of workers compensation premium recovery for Property Casualty Workers Comp brokers and employers nationwide and is pleased to announce our special program for the new experience […]
Risk & Insurance – July 5, 2012 What Impact Will PPACA Have on Workers' Compensation? As everyone knows by now, on June 28, 2012, the United States Supreme Court issued a ruling in the historic case of National Federation of Independent Business v. Sebelius, Secretary of Health and Human Services. In this ruling, the Court […]
