The insurance industry is wondering whether a new requirement from California Insurance Commissioner Dave Jones that workers’ compensation insurers report federal income tax savings is legal. Jones wants insurers licensed to write workers’ comp in California to report the tax …
Mercury General Corp. has reported fourth-quarter net income of $19.8 million, after reporting a loss in the same period a year earlier. The Los Angeles-based company said it had net income of 36 cents per share. Earnings, adjusted for investment …
The Workers’ Compensation Insurance Rating Bureau on Friday submitted an amended Jan. 1, 2018 pure premium rate filing to the California Department of Insurance. The amended filing was based on the WCIRB’s recent review of June 30 loss experience, which …
California Insurance Commissioner Dave Jones announced today that State Farm has issued refunds totaling $13.3 million for overcharged premiums to 241,356 California consumers in compliance with his rate reduction order after the carrier lost two court battles. The refunds are …
Pinnacol Assurance’s board of directors has approved a 2017 decrease in workers’ compensation rates that will average 3.2 percent for the insurer’s Colorado policyholders. The decrease surpasses the Colorado Division of Insurance’s recommendation of a 2.4 percent change, and will …
California Insurance Commissioner Dave Jones issued a formal finding today that costs to insurers in the workers’ compensation system are declining and he’s asking workers’ comp insurers to pass those cost savings on to employers in the form of lower …
An administrative law judge at the California Department of Insurance found that State Farm overcharged customers $85 million and ordered the carrier to issue refunds and reduce rates. The judge determined that since July 15, 2015, State Farm’s premiums for …
It’s a tough time for reinsurers — “pricing is soft, regulators continue to raise the bar, capital is at record highs, competition is increasing, and reinsurers are constantly looking for ways to remain relevant to cedants’ changing demands for protection,” …
The Workers’ Compensation Insurance Rating Bureau has submitted its Jan. 1, 2016 pure premium rate filing to the California Department of Insurance proposing advisory pure premium rates that average $2.45 per $100 of payroll. That WCIRB figure is 7.8 percent …
Workers’ compensation premiums in California continue to grow at double-digit rates, according to the Workers’ Compensation Insurance Rating Bureau. The WCIRB recently released its “State of the California Worker’s Compensation Report,” and authors of the report on Wednesday highlighted developing …
