The owner of a paving company pleaded guilty to six felonies and agreed to pay over $1.4 million in restitution to two workers’ comp carriers as part of a deal to end a workers’ comp fraud case. Maurosan Milhomem, the owner of Viking Pavers, Inc., copped to the charges related to workers’ compensation insurance premium …
Insurance Commissioner Ricardo Lara is giving the go-ahead to a unique set of changes to the state’s classification and experience rating rules to provide workers’ comp premium relief to California employers. The Commissioner approved the regulatory filing by the Workers’ Compensation Insurance Rating Bureau that allows for three crucial changes: Employees shifted to work-from-home status …
The Workers’ Compensation Insurance Rating Bureau is backing special rules to limit the impact of the Chinese coronavirus (COVID-19) pandemic on employers’ X-Mods and allow steps to lessen workers’ comp premiums, but not before a critical committee amended the proposal. Members of the Classification & Rating Committee insisted on changes to expand the proposal while …
The ongoing Coronavirus, or COVID-19, pandemic is creating many problems for the workers’ comp industry that are likely to impact claims both in the short and long-term adversely. Delayed care, extended time on temporary disability, and a limited ability to return injured employees to work are all expected to drive up claims costs for employers. …
The State Compensation Insurance Fund is not waiting for a compensability finding to aid policyholders and essential workers impacted by the COVID-19 pandemic. The carrier has created two funds, one to help policyholders buy necessary safety-related equipment and another to help their workers with medical bills or lost wages if they become ill with COVID-19 …
California’s workers’ comp carriers are on an impressive run of profitability with five straight years of combined ratios well below 100 in spite of continued rate decreases. The overall soft market, however, has carriers competing for premium. Brokers report numerous bonus opportunities for delivering new accounts in the competitive workers’ comp market. Workers’ Comp Executive …
Insurance Commissioner Ricardo Lara finds more controversy about Applied Underwriters. Commissioner Lara determined California Insurance Company (CIC), an Applied Underwriters unit, violated Insurance Code sections 11734 and 11735 by using …