Quote of the day
"There's a reason it hasn't happened. Because it's going to be used as a chip in budget negotiations, or to get someone confirmed in Rules."
John Norwood, lobbyist, on the Schwarzenegger administration's delay in releasing an update to California's Permanent Disability Rating Schedule
Liberty’s Purchase of Safeco: Issues
Liberty Mutual has announced its acquisition of Safeco, one of the venerable agency carriers. Analysts have mixed opinions about the deal. Other deals are in the works and the regulatory environment might be impacted. Premium subscribers can read the whole deal right here.
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Deposits: Pay to Play
Should carriers have to pay interest on deposit premiums they hold? Or should policyholders have to pay interest on outstanding premiums? One lawsuit may answer both questions at once.
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Added Scrutiny
CRM’s significant troubles in the New York market are spilling over into its Golden State subsidiaries. Five self-insured groups and Majestic Insurance are in the line of fire. See who’s taking a closer look at the situation.
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SIG Rules Coming Back
Insurers are pushing for greater public access to the financial records of self-insured groups. Brokers are selling employers into groups with no financial data. Will anyone be happy with revisions that the Office of Self Insurance Plans makes? Premium subscribers can find out by clicking here.
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Stakeholders Working Toward Consensus on Promising Bill
It’s a promising bill that targets scheming and abuse, but the governor may not sign it unless all the kinks are worked out. Find out what the bugaboos are and how they might be solved, in the current edition of Workers’ Comp Executive.
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Is Politics Holding Up the PDRS?
The new permanent disability rating schedule was supposed to be out in the fall. Where is it, and does Sacramento wheeling and dealing have anything to do with it? Find out in the current edition of Workers’ Comp Executive.
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Publius LXXIV—Permanent Disability in the Larger Context
Publius explains from a unique insider viewpoint what’s really going on inside the Legislature, and the outcome of the PD fight in the larger world. Imagine a world of legacy issues beyond workers’ comp. Publius explains it all in this commentary available to all—just click here.
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Centennial State Carrier to Issue $55M in Dividends
Colorado workers’ comp carrier Pinnacol Assurance plans to send $55 million in dividends this year to 56,000 policyholders. The payout makes a grand total of $227 million in checks cut since it began issuing dividends in 2005, according to Pinnacol’s chief executive. By Janet Forgrieve, Rocky Mountain News [with photo] Go to the Full Story…
Garden State Legislators Promise Reforms
During a special hearing in the New Jersey Senate, key lawmakers propose reforms to the state’s $1.8 billion workers’ compensation system on grounds that judges and state officials need more power to punish noncompliant employers and insurers. The state’s insurance and labor commissioners say New Jersey’s workers’ comp program is among the best in the nation, but that judges need help to resolve contentious cases that can languish for years. By Dunstan McNichol and John P. Martin, Newark Star-Ledger
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