The National Association of Insurance Commissioners (NAIC) released its initial market share report for 2022. The most interesting statistics show that the ten largest workers’ comp carriers accounted for 44.03% of the national market, up nearly 1% from 2021. The next 15 carrier groups, ranked by volume, together wrote 22.7%. Together the top 25 groups …
The workers’ comp market is on an unprecedented run with employers paying rates that are the lowest seen since the early 1970s. One major carrier, however, sees a hardening market on the horizon. “From my perspective, based on what I see and I believe my colleagues’ perspective is that comp is likely going to continue …
The Second District Court of Appeal says a lower court was correct to deny The Travelers’ challenge of Insurance Commissioner Ricardo Lara’s authority to find that unfiled side agreements in a workers’ comp program were unenforceable. The court also upheld an attorney fee award to the policyholder that successfully challenged the validity of these disputed …
The first results from the National Association of Insurance Commissioners (NAIC) annual report on market share totals show that the 25 largest workers’ comp carriers continued to control two-thirds of the workers’ comp market with 66.26% market share. At the top, ten groups are the same as last year, although there was some jostling for …
Workers’ comp carriers across California report depressed earnings from the just-completed second quarter. Loss of premium dollars continues to impact carriers’ bottom lines. The decline in premium is due in large part to loss of insured payroll, driven by a number of factors ranging from general loss of jobs in the state economy to accounts …
Not waiting for whatever decision California Insurance Commissioner Steve Poizner issues regarding a mid-year rate increase, several workers’ comp carriers have filed new rates. The carriers have crunched their own numbers and they are well below of the 23.7% recommended by the Workers’ Compensation Insurance Rating Bureau. This could portend a continuing completive market, a …
After a long fast, one old name in California workers’ comp is said to be regaining its appetite for risk in the Golden State. Two new companies are looking for a seat at the table. And yet another carrier that feasted heavily at the California workers’ comp buffet in the immediate post-reform era has exited …
The national unemployment rate is now 7.2% and California’s is even higher, officially at 9.3%, making it the fourth-highest unemployment rate in the nation and the highest the Golden State has seen in more than a decade. And all indications are that it’s only going to get worse. Which leads to the question: With so …