claim severity News

Progressive Insurance CEO on 5 Macro Trends of Note

By his own admission Progressive Insurance CEO Glenn Renwick (and his company) may not be right about the impact certain macro trends will have on the insurance industry, but in his view “it’s important to have some views.” Addressing an …

Duration, Severity Drive Workers’ Comp Claims Costs in Louisiana

Louisiana Workers’ Compensation Corp. (LWCC) was created by the state legislature in 1991 in an effort to stabilize and revitalize the state’s workers’ compensation. Today, the private nonprofit mutual insurance company has around 17,000 policyholders and is the largest workers’ …

California Workers’ Comp Premium Grows But Claim Severity Continues to Rise

An annual report from the Workers’ Compensation Insurance Rating Bureau of California shows that for the second consecutive year statewide workers’ compensation premiums levels rose in 2011, but that continually growing costs of claims has eroded statewide underwriting results. The …

Volvo Technology Prevents 27% of Low-Speed Crashes: Insurance Study

Vehicles are doing a better job of protecting people in crashes, but a new crop of advanced technology aims to prevent many crashes from happening altogether. A new study by the insurance industry’s Highway Loss Data Institute (HLDI) finds that …