Beacon Mutual, Rhode Island’s biggest workers’ compensation writer with about 90 percent of the business, has some big plans. First is its plan to lower the loss cost portion of premiums for most employers by an average of 27.7 percent …
Virginia officials have approved changes that will increase overall workers’ compensation premium levels in the voluntary market for the industrial and federal (F) classes while decreasing premiums levels for coal mine classes. For industrial risks, a voluntary market loss cost …
Two of New York’s 70 workers compensation self-insurance trusts are being shut down by state officials. The two trusts are the Provider Agency Trust for Human Services and the Manufacturing Industry Workers Compensation Self-Insurance Trust, according to Jon Sullivan, spokesman …
The U.S. should remove existing trade barriers to permit foreign reinsurers to lend more support in the event of another mega-disaster such as Hurricane Katrina, Lloyd’s chairman Lord Levene told New York insurance leaders. Emphasizing the increasingly globalized nature of …
One decried a system in which wealthy waterfront property owners are being subsidized by less affluent property owners and taxpayers: “If the state is going to continue to attract new residents, it will have to make them pay for the …
Health care costs in the Texas workers’ compensation system are among the highest in the nation. Furthermore, studies suggest that one out of every four injured employees does not return to work. In an effort to improve the system, the …
Marketing your products to baby boomers. Ongoing success in the insurance business depends on your ability to keep up with the latest market movements–and the market is moving toward Baby Boomers. When evaluating your agency, you might ask yourself: What …
Anticipating and assessing risk, along with defining and assigning value to units of exposure, are basic components of an insurance underwriter’s job. Challenging as such tasks are when examining well-known exposures, they become doubly daunting when faced with previously unknown …
The accident occurred when the insured and a friend moved the insured’s home-built light plane outside to place it on movable scales and weigh it”just out of curiosity.” While attempting to weigh it, the insured tipped the plane on its …
Insurance agents and agencies who provided personal information regarding potential or actual insureds to ChoicePoint Services Inc. between Jan. 1, 1997, and Aug. 9, 2005, may be entitled to money and benefits as a result of a proposed settlement in …
