State Fund Remains California’s Largest Workers’ Comp Carrier

The 2020 California workers’ comp market share totals are in, and the State Compensation Insurance Fund remains the largest writer of workers’ comp coverage. However, there is a new member among the top 10 largest workers’ comp carriers. The new member is Arizona’s CopperPoint Group. Copperpoint bucked the general trend of lower workers’ comp writings … Read More »

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COVID-19 Driven Recession Distorts Second Quarter Experience

California’s workers’ comp actuaries are recommending against using the industry’s second-quarter experience in the rate-making process for 2021 advisory pure premium rates due to the gross distortions in the data from the Wuhan China sourced COVID-19 pandemic. Most notable were anomalies in claim reporting, reserving, and resolution of claims that are now running counter to … Read More »

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Baker Reforms To Beget Another Rate Cut For 2020

The governing committee members’ of the Workers’ Compensation Insurance Rating Bureau will meet this morning to consider 2020 rates. The result will likely be a recommendation for a low- to mid-single-digit cut to the workers’ comp pure premium rates for 2020 policies. Driving the cut are more of the same trends that have seen rates … Read More »

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Berkshire Still Largest Workers’ Comp Group, But Only By A Hair

The Berkshire Hathaway Group continues to make history by claiming for the second year in a row the title of largest writer of workers’ compensation coverage in California. The group replaced the State Compensation Insurance Fund as the largest carrier in 2017, but State Fund all but erased the difference last year (see the Top … 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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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 Done Deal – Now Private

Following the completion of a take-private deal lead by company executives and private equity firms, trading was suspended in the shares of AmTrust Financial Services (Nasdaq: AFSI).  The family Go-Private … Read More »

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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