Insurer Changes Structure, Abandons California Excess Workers’ Comp

A specialty insurer formerly active in the California excess workers’ comp market is changing its organizational structure and ownership. ProSight is the parent of New York Marine and General Insurance Company that’s a minor player in California workers’ comp and was active in California’s excess workers’ comp market. New York Marine wrote some $57 million … Read More »

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Applied Underwriters Rating Downgraded

Applied Underwriters pending exit from the Berkshire Hathaway (NYSE: BRK.A) family of companies is having a negative impact on the credit ratings for its primary insurance companies – California Insurance … Read More »

Experts Say Work Comp’s Performance Will Decline

The workers’ comp industry is in the midst of its most profitable period in years in spite of significant rate cuts in California and many other states, but experts say the good times are coming to an end.  Prior year reserve releases have kept loss and combined ratios looking pretty, but these redundancies are running … Read More »

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Large Deductible Policies Under New Rules

Large deductible polices account for well over one-third of all written workers’ comp premium in California.  But it takes just 3.1% of policies to account for all that premium. Carriers selling large deductible workers’ comp policies in California, those with deductibles of $100,000 or more, must abide by new rules that in many cases call … Read More »

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Top Workers’ Comp Stories of 2018

Every year the first issue of the Workers’ Comp Executive includes a “Top Stories” item covering the hottest topics from the past year. Some years, the top stories might be driven by Legislative changes or new interpretations of existing law by the courts or the Workers’ Compensation Appeals Board. Others it might be the market … Read More »

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AmTrust’s Reinsurer Reports Loss, Unloads Reserves

Maiden Holdings, the Bermuda-based reinsurer that receives about 40% of AmTrust’s premium under a quota share agreement, announced a major loss due largely to unfavorable reserve development principally on its AmTrust workers’ comp business. The companies were founded by the same family and remain related. The news was released just hours after Maiden reached a … Read More »

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Carriers Seek To Limit CDI Large Deductible Regulations

California’s move to introduce new collateral requirements for workers’ comp policies with deductible amounts of $100,000 or more generated little written comment from the industry. At CDIs recent hearing no interested parties opted to give testimony in person. But what was submitted in writing mainly seeks to weaken the proposed standards.  The California Department of … Read More »

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