Chinese Coronavirus: New Rules For X-Mods, Premium, & Ratemaking

The Workers’ Compensation Insurance Rating Bureau is backing special rules to limit the impact of the Chinese coronavirus (COVID-19) pandemic on employers’ X-Mods and allow steps to lessen workers’ comp premiums, but not before a critical committee amended the proposal. Members of the Classification & Rating Committee insisted on changes to expand the proposal while … Read More »

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$20 Million Fraud Scheme Busted

Orange County prosecutors filed felony charges against two people in an alleged kickback and workers’ comp insurance fraud scheme. Prosecutors say that Bradley Dan Groscost and Felix Koltsov concocted a plan that ultimately billed workers’ comp carriers over $20 million for urine drug screenings and prescriptions for compounded creams. The scheme was driven by $2 … Read More »

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No Restitution In Spinal Kickback Case

A federal judge in the Michael Drobot spinal surgery kickback case is refusing to order any of the seven defendants to pay restitution. The Judge says the workers’ comp carriers and the federal government failed to follow her directions for calculating and proving the amount of restitution potentially owed. It was AIG, State Compensation Insurance … Read More »

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Excess Workers’ Comp Market Expanded In 2018

California’s market for excess workers’ comp coverage expanded slightly in 2018 to once again top $200 million in written premium. Overall, excess carriers wrote $209 million in premium last year. The total is up from the $195 million written in 2017 but still far below the $243 million recorded in 2016. Brokers active in the … Read More »

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NAIC’s Top 25 Workers’ Comp Carriers Steady In 2018

The Travelers Group (NYSE: TRV) and Hartford Fire & Casualty Group (NYSE: HIG) are still the largest writers of workers’ comp insurance in the nation, according to a first peek of the National Association of Insurance Commissioners annual market share report. Behind these two groups, however, there was significant jockeying for position among the other … Read More »

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Zurich Seeking Rescission Alleging Staffing Piggybacking

Two Zurich carriers are suing a bankrupt staffing company that allegedly allowed other staffing companies to “piggyback” off of its workers’ comp policies. The lawsuit seeks rescission of the policies ab initio, recoupment of its defense and indemnity costs, restitution, and a declaration that the carrier has no duty to defend the claims that were … Read More »

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Berkshire Hathaway Group Makes History

The State Compensation Insurance Fund is no longer California’s largest writer of workers’ compensation coverage in California. The Berkshire Hathaway Group (NYSE: BRK.A) replaced the quasi-governmental carrier as number one during 2017. It is believed that this is the first time in its history that State Fund is not the largest writer of workers’ comp … Read More »

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