Carriers’ Workers’ Comp Rate Hikes Continue For Mid-Year Renewals

Several workers’ compensation insurance carriers are entering the mid-year renewal cycle with rate increases ranging from 1.8% to 7.7%, while others are boosting rates by as much as 9.3%. Employers with July 1 renewals, however, will escape the highest of the latest rate hikes as these are not scheduled to kick in until September. To … Read More »

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Higher Rates, Exposure Drive Up Workers’ Comp Premium Totals To Pre-Recession Levels

California’s workers’ comp market returned to its pre-recession levels in 2012 as mostly higher pure premium rates and some expanding payrolls boosted direct written premiums to $9 billion – a level not seen in California since 2007. The latest market share report by the California Department of Insurance also shows that the gap between the … Read More »

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Carrier Rate Filings Precede Commissioner’s Decision

The California workers’ comp industry spent much of October and November waiting for a hearing and decision on the Workers’ Compensation Insurance Rating Bureau’s annual rate filing. But the delay by the California Department of Insurance and Insurance Commissioner Dave Jones did not keep carriers from setting increases for the new year While the Department … Read More »

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Carriers File Mid-year Rate Hikes

Since Insurance Commissioner Dave Jones approved an 8.3% increase in the advisory pure premium rate, recent rate filings by carriers are coming in across the board, ranging from a cut of more than 30% to a 70% increase. In between the extremes, the filings were scattered even among carriers in the same group of insurance … Read More »

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Hartford, ECIC Grow Market Share, SCIF Loses More

The list of the 10 largest writers of workers’ comp in California held steady in 2011 with one notable exception as Employers Compensation Insurance Company moved onto the list and Ace Limited Group (NYSE: ACE) dropped off. But within that list the major national players are busy rearranging the deck chairs as some are increasing … Read More »

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Hartford, Travelers Grow Their California Workers’ Comp

National carriers spent last year jockeying for position at the top of the California workers’ comp market. Not a bad fact, considering that Workers’ Compensation Insurance Rating Bureau (WCIRB) says the market is some 40% underpriced. The statistics confirm a healthy competitive market. The Travelers (NYSE: TRV), Hartford Fire & Casualty Group (NYSE: HIG) and … Read More »

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Workers’ Comp Premium Plunges for Fifth Year in a Row

California’s workers’ comp total direct written premium declined by almost 10% in 2009 down to $6.9 billion from $7.6 billion in 2008, according to data from the National Association of Insurance Commissioners.  The latest figure is in sharp contrast to where the market was just five years earlier at a whopping $16.1 billion. Since then … Read More »

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