Despite continuing wholesale drops in California’s pricing and the Workers’ Compensation Insurance Rating Bureau’s new call to cut pure premium rates another 11.3 percent on July 1, A.M. Best Co. remains sanguine on the Golden State marketplace – for now. But much is at play in California that could change that outlook. New out-of-state carriers …
Fresno County Farm Bureau and State Compensation Insurance Fund will host “Train the Trainer” tractor safety classes for Farm Bureau members January 24-25, 2007. The program will call attention to recent reports of tractor fatalities on Valley farms, review training requirements, and also provide hands-on demonstrations. The Wednesday, January 24th class will be held at …
New data from the Workers’ Compensation Insurance Rating Bureau of California indicate that reforms are still unclogging the system, yielding positive results for the industry and employers. Aggregate California workers’ comp premium continues to slide and loss ratios hit new lows in the third quarter of this year, the Bureau reports in its analysis of …
Federal Jury Acquits Ohio Brokers in Bribery Case After less than three hours of deliberations, a federal jury acquits two Cleveland-area brokers of conspiring to bribe Terry Gasper, the former …
Ratings bureau A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit ratings of “a” of Burbank-domiciled Allianz Insurance Group, which consists of Allianz Global Risks US Insurance Company and its wholly-owned subsidiary, Allianz Underwriters Insurance Company. A.M. Best also has affirmed the FSR of A and the ICRs …
The Workers’ Compensation Insurance Rating Bureau of California is excluding from its January 2007 rate filing data from American International Group (NYSE: AIG) for what it termed accuracy reasons. The bureau declined to identify the specific carrier, but confidential sources confirmed the problem as AIG. The decision was discussed at the recent Governing Committee meeting …
If the insurance commissioner approves the recommended rate decrease of 6.3 percent for Jan. 1, 2007, pure premium rates will have plummeted 58 percent since July 2003, according to the Workers’ Compensation Insurance Rating Bureau of California. Positive loss development for accident year 2005, decreasing claims frequency and declining costs in permanent disability continue to …
The Workers’ Compensation Insurance Rating Bureau of California will pay for an updated study on earthquake risk after deciding to punt on the issue earlier in the year. The Bureau estimates the cost of the study will be between $50,000 and $85,000, depending on the level of detail. Despite the usefulness of the data for …