California’s excess workers’ comp market was relatively steady last year at just over $200 million in written premium by the same 19 carrier groups that wrote business the prior year. Beyond the topline number, however, there were significant changes. Two carriers cut back sharply. Excess workers’ comp coverage is bought by self-insured employers, self-insured public …
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 …
Draft regulations to boost the training and educational requirements for qualified medical evaluators (QMEs), including anti-bias training that the Division of Workers’ Compensation agreed to require of QMEs two years ago, generated significant feedback from employers and providers alike. The Division is reviewing 20-some pages of comments in preparation for starting the formal rulemaking process. …
Who are the major carriers workers’ comp market? Which groups wrote more business last year? The 2020 figures are in and you can get the results by clicking here. Initial results from the National Association of Insurance Commissioners show the same 25 carrier groups dominating the national workers’ comp market in 2020 as in 2019. …
Changes now under consideration could double or even triple the number of experience-rated employers in California. The Workers’ Compensation Insurance Rating Bureau is researching changes that would give X-Mods to 250,000-300,000 small employers or more. The small employers are mostly claim free risks that would see a 5% credit mod, but those with workers’ comp …
Initial results from the National Association of Insurance Commissioners show that the Travelers Group (NYSE: TRV) and Hartford Fire & Casualty Group (NYSE: HIG) remained the most prominent players in the workers’ comp market nationwide. Still, the 2019 totals show significant movement among other carriers in the top 10 (see chart). Overall, however, the list …
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 …
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 …