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. […]
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 […]
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 […]
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 […]
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 […]
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 […]
Business Insurance After workers compensation insurers experienced another tough year during 2011, guaranteed cost and monoline programs “will likely be more difficult to place,” states a recent market quarterly report from Marsh USA. “Some carriers are unwilling to compete on a monoline basis, or are requiring supporting business,” states Marsh's Global Insurance Market Quarterly Briefing: […]
