So I keep hearing that Work Comp in illinois is cuasing all kinds of problems for Pekin and West Bend and some others. Especially work comp for contracting accounts?
If that is the case and Illinois stinks for work comp, then why does Indiana and Selective continue to write work comp with 50% and 60% scheduled credits? Are they that stupid or that good? didn’t Indiana’s CEO announce about 6 months ago that his companies were going to practice strict underwriting discipline?
I keep hearing from other agents that West Bend is in trouble, but haven’t heard any numbers? Were they over a 110 combined again? Another post asked if they shook up their work comp executives and reorganized because of all the problems?
Coming from Selective, sorry dude, but Illinois is a growth state for us and we’re gonna do what we’re gonna do. We make money. So I guess you would say yes, Selective is that good. West Bend doesn’t know what they are doing. too many contractors.
West Bend dumped more than $30 million in contracting business in 2009 from waht I’ve heard. Selective posted good numbers for 2009. See Insurance Journal article.
Nobody will ever know how bad it really is for West Bend. They have not fully realized how bad their WC book is.
I heard that they dumped a lot more than $30 million. They cancelled Columbian agency from what I heard that was almost $12 million alone? Every body is talking about west bend problems in Illinois, but who has details? Lots of rumers.
I think that wage diffential for the high wage group ie. union mechanics and contractors have skyrocketed. The article doesn’t even mention that. I haven’t seen anything like it in my 30 years in this business. It is nothing to see a 500K WC loss due to wage diff. Anyone else concerned about this trend?
After 22 years in this business it never ceases to amaze me how carriers can come into the market and underprice business with the expectation they can handle claims better than the other carriers. For the guy from Selective that thinks they have the magic formula you will have the same loss ratio isuues in 2 to 3 years just like any other carrier that is buying business. If you have not figured it out all of the carriers in Illinois have to deal with the same liberal Industrial Commission that is ruining workers compensation in Illinois. So unless you can wave some magic wand over the commission you are in for a rude awakening.
So I keep hearing that Work Comp in illinois is cuasing all kinds of problems for Pekin and West Bend and some others. Especially work comp for contracting accounts?
If that is the case and Illinois stinks for work comp, then why does Indiana and Selective continue to write work comp with 50% and 60% scheduled credits? Are they that stupid or that good? didn’t Indiana’s CEO announce about 6 months ago that his companies were going to practice strict underwriting discipline?
Riiiiiiight.
I keep hearing from other agents that West Bend is in trouble, but haven’t heard any numbers? Were they over a 110 combined again? Another post asked if they shook up their work comp executives and reorganized because of all the problems?
Coming from Selective, sorry dude, but Illinois is a growth state for us and we’re gonna do what we’re gonna do. We make money. So I guess you would say yes, Selective is that good. West Bend doesn’t know what they are doing. too many contractors.
West Bend dumped more than $30 million in contracting business in 2009 from waht I’ve heard. Selective posted good numbers for 2009. See Insurance Journal article.
Nobody will ever know how bad it really is for West Bend. They have not fully realized how bad their WC book is.
I heard that they dumped a lot more than $30 million. They cancelled Columbian agency from what I heard that was almost $12 million alone? Every body is talking about west bend problems in Illinois, but who has details? Lots of rumers.
I think that wage diffential for the high wage group ie. union mechanics and contractors have skyrocketed. The article doesn’t even mention that. I haven’t seen anything like it in my 30 years in this business. It is nothing to see a 500K WC loss due to wage diff. Anyone else concerned about this trend?
After 22 years in this business it never ceases to amaze me how carriers can come into the market and underprice business with the expectation they can handle claims better than the other carriers. For the guy from Selective that thinks they have the magic formula you will have the same loss ratio isuues in 2 to 3 years just like any other carrier that is buying business. If you have not figured it out all of the carriers in Illinois have to deal with the same liberal Industrial Commission that is ruining workers compensation in Illinois. So unless you can wave some magic wand over the commission you are in for a rude awakening.
Where can I find a web site that can address the issue of workers comp trends in Illinois.
Thank you, Donna