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. […]
BusinessInsurance's Sheena Harrison quoted Apex President Simon Feuer in her article about workers compensation audit reviews! One major point about this article is that APEX Services was the only company mentioned that does INDEPENDNET, UNBIASED reviews, working with brokers all across the country. What was surprising to us here at Apex was that these brokers […]
According to Business Insurance, rising prices and improving economic conditions buoyed the collective fortunes of the largest publicly traded insurance brokers during 2011. The article goes on to say that “Better prices hit brokers pretty quickly because, unlike insurance companies, (brokers) don't earn their commissions over time.” All this is great news for brokers who are […]
NCCI has requested a 6.4% increase in average loss costs in a filing with the Rhode Island Department of Business Regulation (DBR). NCCI requested that this increase be effective June 1, 2012 NCCI said Rhode Island lost time claims frequency remains the highest among Northeastern states, while claims severity remains the lowest in the region. […]
Brokers take note… According to a recent analysis released by MarketScout, workers comp experienced the greatest increase in rates in the month of February, compared to other lines of insurance. The 3% rise is in keeping with the consistent rise in premiums since the end of last year. Brokers must evaluate price vs. profit, meaning […]
The cost of employee compensation insurance for Massachusetts employers could rise dramatically later this year if rates proposed by insurers are approved by state regulators. The Workers’ Compensation Rating and Inspection Bureau of Massachusetts, which represents companies that write workers’ compensation polices, asked the state to approve an average rate increase of 19.3 percent. Most […]
