Latest Workers' Compensation Headlines
All the headlines from our Workers' Compensation Topic Page, ordered by recency.
Wash. L&I Adopts 29 Percent Rate Icrease
Nov 28 2002 // The Washington Department of Labor and Industries (L&I) has adopted a 29 percent rate increase for 2003. It is the agency’s first general rate increase in eight years. On Jan. 1, the average rate will rise from...
W.Va. Workers’ Comp Fund Deficit Approaching $3 Billion
Nov 26 2002 // West Virginia Gov. Bob Wise announced the state’s Workers’ Compensation Fund faces a deficit totaling between $2.5 and $3 billion. According to The Charleston Gazette, the fund had showed deficits since 1995,...
Workers’ Comp Rates Reduced in Oklahoma
Nov 25 2002 // The Oklahoma State Board for Property and Casualty Rates, chaired by Insurance Commissioner Carroll Fisher, voted to reduce the loss cost component of workers’ compensation rates by 2 percent. The reduction is...
S&P Lowers Casualty Reciprocal Exchange Ratings to ‘CCCpi’
Nov 25 2002 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Kansas City-based Casualty Reciprocal Exchange (CRE) to ‘CCCpi’ from...
Calif. Commissioner Reflects on the Past, Looks to the Future
Nov 25 2002 // Insurance Journal staff writer Cynthia Beisiegel recently caught up with California Insurance Commissioner Harry Low at the NAII Annual Meeting in Los Angeles. Commissioner Low shared his thoughts on the improvements he...
MAN CHARGED WITH WC FRAUD
Nov 25 2002 // The Scurry County (Texas) Grand Jury indicted Jake V. Silva on charges of fraudulently obtaining workers’ compensation benefits; he was reported to have continued working while collecting temporary income benefits...
Argonaut Subs Rated ‘A’
Nov 25 2002 // S&P assigned its “A” counterparty credit rating and FSR to the members of the Colony Intercompany Pool and to Argonaut Great Central Insurance Co. It also affirmed its “A” ratings on the...
NAII Praising Senate for Including Risk-Sharing Mechanisms in Terrorism Reinsurance Bill
Nov 22 2002 // The Senate’s recent approval of H.R. 3210, the Terrorism Risk Insurance Act of 2002, puts the bill on the desk of President Bush, who is expected to sign the legislation Dec. 2. The new legislation creates a...
Hike Requested for S.C. Workers’ Comp Rates
Nov 22 2002 // Workers’ compensation rates in South Carolina would rise by an average of 20.3 percent if a rate hike request filed by the National Council on Compensation Insurance (NCCI) is approved by the South Carolina...
Meadowbrook to Offer Workers’ Comp through Dodson Group
Nov 22 2002 // Michigan’s Meadowbrook Insurance Group, Inc. announced that it has reached an agreement to offer workers’ compensation coverage to select group and association clients of the Kansas City-based Dodson Group,...
Truck Drivers Arrested for WC Fraud
Nov 20 2002 // Investigators with the California Department of Insurance (CDI) Criminal Investigations Branch’s Fraud Division announced the arrest of two truck drivers this week. Both cases are being prosecuted by the...
Calif. Thoroughbred Trainers Form Own WC Captive
Nov 20 2002 // The California Thoroughbred Trainers have finalized a plan with American International Group (AIG) to form a captive that will provide their some 800 members with an affordable workers’ comp program. The captive, to...
N.Y. Woman Arrested on Workers’ Comp Fraud Charges
Nov 19 2002 // New York Superintendent of Insurance Gregory Serio announced the arrest of Garifalia Christea, 48, of Flushing, New York. She is charged with grand larceny, insurance fraud, falsifying business records and violation of the...
N. Dak. Man Sentenced for Workers Comp Violations
Nov 19 2002 // The Northeast Judicial Court of Devils Lake, North Dakota sentenced Myron Wittwer to serve 30 days in the Bottineau County Jail with 30 days suspended for a period of 1 year, and placed him on unsupervised probation for a...
Converium Gives Details on Reserves, Plans to Raise $200 Million
Nov 19 2002 // Swiss-based Converium Group announced details of the $70.3 million in additional reserves it expects to fund for Converium North America during the fourth quarter. It also plans to raise an additional $200 million through...
Aon Unveils Two New Workers Comp Models for Earthquakes and Terrorism + James Bond
Nov 18 2002 // Aon Corp.’s subsidiary, Aon Re Inc., has unveiled two timely new models for workers’ compensation catastrophes. One covers all significant U.S. earthquake regions, and the second analyzes terrorism exposures...
Florida to See WC Premiums Hikes
Nov 15 2002 // Workers’ compensation premiums may rise by an average of 15 percent next year for many Florida employers, with some employer groups paying as much as a 42 percent rate increase, according to Florida Treasurer and...
Liquidation of Miami Company Sought
Nov 12 2002 // Florida State Treasurer and Insurance Commissioner Tom Gallagher wants Aries Insurance Company to consent to liquidation as a result of an arbitration panel ruling that determined the company is deeper in debt than...
COLO. WORKERS’ COMP LOSS COSTS TO DECREASE
Nov 11 2002 // Beginning Dec. 1, 2002, workers’ compensation loss costs for Colorado will decrease an average of 10.5 percent. Although individual employer workers’ compensation premiums are affected by other rating factors,...
Federal Terrorism Backstop a Good Public/Private Fit
Nov 11 2002 // Benjamin Franklin wore many hats: statesman, inventor, publisher—even firefighter. In fact, it was his experience fighting fires that made him realize the need to pool financial resources to protect properties and found...
