California News

Study Says Increased WC Benefits Lengthens Claim Duration

States that increase the maximum weekly benefit for workers compensation can expect to see temporarily total disability, injured workers making claims for longer, almost a week longer, according to a new study released by the National Council on Compensation Insurance, …

Southern California Firm Hires Three

Venbrook Insurance Services, of Woodland Hills, Calif., has hired three new executives. Ana Preston, formerly of Countrywide Insurance Group, was appointed vice president, personal lines. Rose Nordbrock, formerly of Bolton and Company, was appointed senior vice president. And, Shaun McCarron, …

People

Monte Stringer, executive vice president with U.S. Risk Inc. in Dallas, has been elected president of the Texas Surplus Lines Association Inc. for the coming year. Stringer and other new officers and directors of the organization were elected at the …

Golden State Faces $20 Billion in Red Ink

The California Legislative Analyst’s Office recently issued a report stating that the state’s General Fund is going to come up $20 billion short when its present budget ends. The report said officials are going to need to deal with the …

It Figures

30 The number of third quarter mergers and acquisitions of insurance brokerages, according to Audra M. Szollosy, senior vice president with Hales & Co., one of the oldest and most experienced advisory and investment banking firms solely dedicated to the …

People

The San Diego office of Lockton Cos. hired Bud Cole in the company’s employee benefits practice as vice president and senior consultant. Cole will serve as a liaison between clients and the Lockton benefits team, responsible for managing client relationships …

Report Shows White Collar Injury Grows in Importance

A new study from the California Workers’ Compensation Institute shows that claims from white-collar workers have assumed greater relative importance as the economy has sputtered. The study shows that on average, workers’ compensation claims from professionals and clerical workers were …

Business Moves

USAA Military insurance company USAA is expanding its customer base by nearly 35 million prospects by opening up eligibility for its products to all veterans who have served in the U.S. Armed Forces at any time. More than 18 million …

State Fund Announces 5% Rate Increase

California’s State Compensation Insurance Fund announced it has filed a 5 percent rate increase in collectible premium. The revised rate will apply to new and renewal workers’ compensation policies effective on or after Jan. 1, 2010. “The principal driver of …

New Markets

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