Calif. Gov. Arnold Schwarzenegger has signed legislation to help transform the Golden State’s workers’ compensation insurer, the State Compensation Insurance Fund. Assembly Bill 1874 and Senate Bill 1145 are an important step toward increased transparency and strengthened corporate governance for …
Boston-based Liberty Mutual Group is not pleased by Standard & Poor’s announcement that it was lowering the Company’s financial strength rating from ‘A’ to ‘A-‘ with a stable outlook, following Liberty’s completion of its acquisition of Safeco. In a bulletin …
State insurance commissioners have lashed out at members of Congress who are blaming state regulation for the problems of American International Group (AIG) and using the AIG crisis to bolster their advocacy for federal regulation. The state regulators spoke out …
With a Tuesday, Sept. 30, 2008, deadline to sign or veto bills fast approaching in Califorrnia, Gov. Arnold Schwarzenegger has taken action on several bills this week. Perhaps most notable to insurance agents is AB 2956, which the Governor signed, …
Damage estimates indicate hurricanes Gustav and Ike washed about a million cubic yards of sand apiece from Alabama’s Baldwin County beaches, and repairs could cost more than $13 million. Gulf Shores Public Works Director Mark Acreman said it will take …
A business group canceled another conference scheduled at The Greenbrier because of an ongoing contract dispute between the West Virginia resort and its employees. The Washington, D.C.-based Council of Insurance Agents and Brokers moved its June 2009 Employees Benefits Leadership …
A spokesman for the Texas Windstorm Insurance Association says rumors that the association will deny Hurricane Ike claims on a blanket basis are unfounded, untrue and completely misleading. “TWIA’s guidelines are, and will continue to be, to look at each …
The Texas workers’ compensation system is not yet working perfectly, but “it has come a long way,” says the state’s new Commissioner of Workers’ Compensation Rod Bordelon. In a speech before an audience of workers’ compensation professionals, Bordelon praised the …
Surplus lines insurer Lexington Insurance Co. reported that it has arranged a contingent property reinsurance cover from Berkshire Hathaway’s National Indemnity Co. for its real estate portfolio. The cover is also for policies having limits of $250 million or greater, …
The National Council on Compensation Insurance, headquartered in Florida, posted a new research study regarding a continuing increase in treatments per workers compensation claims. NCCI says in recent years, workers’ compensation medical costs have grown dramatically and that there are …
