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Maine OKs 15.7% Rate Cut for Its Biggest Workers’ Compensation Insurer, MEMIC
May 16 2024 // The Maine Bureau of Insurance has approved a 15.7% average rate reduction in workers’ compensation insurance premiums for Maine Employers’ Mutual Insurance Co. (MEMIC), the largest workers’ compensation...
US Workers’ Comp Line Still Showing Strong Profits, Lower Claim Frequency
May 15 2024 // Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines. However, the workers’ compensation...
Tech Update: WTW, Riskonnect Launch Risk Diagnostic Tool for Workers’ Comp
May 13 2024 // Insurance broker WTW has formed a partnership with Riskonnect to pilot an analytical delivery tool that connects claims and exposure data through its new offering WTW Risk IQ API (application programming interface). The...
OSHA Cites Boston Employer in Window Washer’s Fatal 29-Story Fall
May 10 2024 // Federal workplace safety investigators are alleging that an East Boston window cleaning company’s failure to inspect and replace damaged or defective equipment contributed to an employee’s fatal 29-story fall...
Report: California Workers’ Comp Written Premium Increased 2% in 2023
May 9 2024 // Written premium in calendar year 2023 was 2% higher than the prior year, driven by continued economic expansion, but partially offset by continued rate decreases, a new report shows. The Workers’ Compensation...
Florida Saw Jump in Workers’ Comp Cost per Claim in 2022-23, WCRI Report Shows
May 6 2024 // Call it the effects of wage creep during the pandemic, along with a little bit of creep in the duration of benefits. Employers and insurers in Florida saw a 7% increase in total cost per workers’ compensation claim...
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