In Pennsylvania, total workers’ compensation payments for injured workers’ cash benefits and medical care rose by 3.7 percent to $2,626 million in 2003, according to a report by the National Academy of Social Insurance. Nationally, workers’ compensation payments grew by …
Employers’ costs for workers’ compensation grew faster than combined cash benefits for injured workers and medical payments for their treatment, according to a study issued by the National Academy of Social Insurance. The cost increase in 2003, the most recent …
Tiffany Stewart has joined the property/casualty insurance division of Baldwin Resource Group, a company that specializes in risk management, insurance and business consulting. Stewart will work to improve daily business operations and processes in that division. Previously, Stewart worked at …
Now that immediate efforts to assist tsunami victims with housing and food relief are well underway, the AIG Disaster Relief Fund and CHF International are joining together to begin the next critical phase of long-term reconstruction that will be needed …
Firearm manufacturers have filed papers asking the U.S. Supreme Court to review a District of Columbia Court of Appeals ruling permitting lawsuits against firearms manufacturers under the District of Columbia’s “Assault Weapon Manufacturing Strict Liability Act.” Firearm manufacturers maintain the …
The commercial property/casualty market continued to soften during the second quarter of 2005, with commercial insurance brokers reporting that insurers are aggressively competing for new business and fighting hard to keep their renewals. According to the Commercial Property/Casualty Market Index …
Fitch Ratings has assigned an ‘AA-‘ insurer financial strength rating to American Reinsurance Company (AmRe). The Rating Outlook is Stable. Fitch’s rating on AmRe reflects its view that the company is a core subsidiary of Munich Reinsurance Company (Munich Re). …
Federal Reserve Chairman Alan Greenspan again testified that he believes that private insurers alone can’t handle the risk of losses resulting from terrorist attacks. In testimony before the House Financial Services Committee that echoed previous remamrks, Greenspan maintained that terrorism …
Market conditions for the first quarter of 2005 have become increasingly favorable, and the Willis Index shows that respondents are now beginning to acknowledge that premium rates are decreasing for many financial institutions by between 1 percent and 10 percent. …
The American Insurance Association (AIA) has called Illinois’ new workers’ compensation law an assortment of benefit increases and unproven reforms that may ultimately only inflate costs. “The few provisions of the new law intended to rein in costs are outweighed …
