WA: Secretary of State Certifies Privatization Measure for Nov. 2 Ballot

OLYMPIA, WA - The Bellingham Herald reports that the Secretary of State has certified Initiative 1082 for the November 2 ballot, and the Building Industry Association of Washinton's proposal to privatize workers' compensation insurance in the state will now be decided by the voters.

NC: Blue Cross to Cut Costs 20% to Limit Premium Hikes, Adapt to Health Care Reforms

DURHAM, NC - The Charlotte Observer reports that Blue Cross and Blue Shield of North Carolina is planning to cut costs by 20 percent by 2014, all in an effort to improve its bottom line, limit the need for premium hikes, and adapt to changes as a result of health care reform.

IL: Dept. of Insurance Implements State-Based Systems Licensing Program

CHICAGO, IL - On July 26, 2010, the Illinois Department of Insurance will implement the State-Based Systems (SBS) licensing system. SBS will allow producer licensing functions to be completed electronically through a web-based system. Through SBS, an insurance producer will be able to register immediately...

NJ: NJCRIB Posts Reminder of Administrative Sanctions Effective 9/1/2010

NEWARK, NJ - The New Jersey Compensation Rating and Inspection Bureau has posted Advisory Bulletin #30, which states in pertinent part: "Manual Rule 1:3-14, entitled “ Administrative Sanctions and Special Service Charges ,” was amended effective July 1, 2009 authorizing the Rating...

CA: Data Reporting Errors Plague California Workers’ Comp System

The Workers’ Compensation Insurance Rating Bureau (WCIRB), for the past four years, has been testing a program to hold carriers accountable for hundreds of millions of dollars of payroll misclassified on some of the largest workers’ comp policies in California. Large policies have been and...

PCI’s Sampson Reacts As Dodd-Frank Act Clears Procedural Hurdle For Senate Passage

WASHINGTON, DC — David A. Sampson, president and CEO of the Property Casualty Insurers Association of America, issued the following statement on the Dodd-Frank Act, which has cleared the necessary procedural threshold in the U.S. Senate to be considered for passage today: "Significant improvements...

TX: Texas Mutual Urges Worker Safety During Gulf Shore Cleanup

AUSTIN, TX - Now in its third month, the Gulf Coast oil spill has created many safety hazards for wildlife and for people involved in cleanup efforts. Texas Mutual Insurance Company, the state’s leading provider of workers’ compensation insurance, urges employers and employees helping out...

AIA Statement on Passage of Dodd-Frank Financial Regulatory Reform Legislation

WASHINGTON, D.C. – Leigh Ann Pusey, president and CEO of the American Insurance Association (AIA), today issued the following statement on the passage of the “Dodd-Frank” financial services regulatory reform legislation that now goes to the President’s desk for his signature....

OR: AGC/SAIF Program Returns $3.3M to Oregon Businesses

SALEM, OR - Oregon businesses that participate in the Associated General Contractors (AGC)/SAIF Workers' Compensation Program are receiving a $3.3 million retrospective return on their 2008-2009 plan year premium. Primarily due to the slow economy, the 2008-2009 return is smaller than average...

WV: Workers' Comp Coverage Problems Continue for Volunteer Firefighters

CHARLESTON, WV - The Charleston Daily Mail reports that leaders of the West Virginia State Firemen's Association held a press conference yesterday, saying they are losing "broad form" liability coverage because of ambiguity in state law regarding employer liability.

TX: TxOGA Earns $3.5M Texas Mutual Dividend

AUSTIN, TX - Texas Mutual Insurance Company announced a $3,566,002 dividend to the Texas Oil & Gas Association (TxOGA) workers' compensation purchasing group. The dividend was based largely on the group’s premium volume and loss ratio. Read more at Texas Mutual Insurance

NY: Insurance Dept. Approves 7.7% Increase in Workers' Comp Loss Costs

NEW YORK, NY - The New York Workers' Compensation Insurance Rating Board says the New York State Insurance Department has approve the Board's request for an average 7.7% increase in workers' compensation loss costs, effective October 1, 2010. Source: NYCIRB

OR: AGC/SAIF Returns $3.3M to Oregon Businesses

SALEM, OR - Oregon businesses that participate in the Associated General Contractors (AGC)/SAIF Workers' Compensation Program are receiving a $3.3 million retrospective return on their 2008-2009 plan year premium. Primarily due to the slow economy, the 2008-2009 return is smaller than average...

CA: Injured Worker Advocates Say Insurers Received $25.4B in Profit Since 2004

SACRAMENTO, CA - Advocates for injured workers have released a chart, “Where The Premium Goes,” showing that Governor Schwarzenegger’s workers compensation changes resulted in $25 billion in insurance carrier profits between 2004 and 2008, the latest full year for which figures are...

MI: Michigan Insurance Company's Ratings Under Review With Negative Implications

OLDWICK, NJ - A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of "a" of Michigan Insurance Company (MIC) (Grand Rapids, MI). The ratings will remain under review pending regulatory review, approval...

VA: NCCI Proposes 12.4% Cut in Workers' Comp Premiums

RICHMOND, VA - The Richmond Times-Dispatch reports that NCCI has proposed a 12.4 percent average cut for most employers.

SC: AIG Policyholders Move Forward With Lawsuit Over Alleged Excessive Workers' Comp Premiums

COLUMBIA, SC - The Supreme Court of South Carolina issued its opinion in Temporary Services v. American International Group , essentially allowing the AIG workers' compensation policyholders to move forward with their lawsuit against their insurer. In the underlying lawsuit, the plaintiffs asserted...

Property Casualty Insurers React to Dodd-Frank Act; New Federal Insurance Office

WASHINGTON, DC -- David A. Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), issued the following statement on President Obama's signing of the Dodd-Frank Act and the newly created Federal Insurance Office (FIO). "The Dodd-Frank Act will rewrite the...

LA: Louisiana Workers’ Comp Insurance Rates Decreasing Again

Commissioner of Insurance Jim Donelon announced today that rates for workers’ compensation insurance continue to decrease in Louisiana based on a recent report from the National Council on Compensation Insurance (NCCI) that analyzes workers compensation rates in 35 states. Most workers’...

CA: Workers' Comp Insurers Seek Sharp Increase in Premiums

An editorial by Dan Walters at the Sacramento Bee points out that insurers lost $1.5 billion in 2009 compared to breaking even in 2008, this according to a recent WCIRB report, and that insurers are now asking for a sharp increase in premiuims to offset their losses.

CA: SeaBright Files for Rate Increase

SEATTLE, WA - SeaBright Holdings, Inc. has announced that its subsidiary, SeaBright Insurance Company, has filed a 15.3% rate increase with the California Department of Insurance. The Company plans to apply the increase to California exposures on all SeaBright insurance policies with inception dates...

WV: Insurance Commissioner Disputes Notion That VFDs Need Broadform Coverage

CHARLESTON, WV - The Charleston Gazette reports that Insurance Commissioner Jane Cline disputed claims by Volunteer Fire Departments that they would have to shut down once BrickStreet Insurance cancels the broadform coverage for officers and directors of VFDs on Sept. 1. According to Cline, the directors...

WV: VFDs to Get Broadform Coverage From BRIM

CHARLESTON, WV - The Charleston Gazette reports that the Governor announced yesterday that volunteer fire departments will receive broadform coverage through the State Board of Risk and Insurance Management.

NV: Division of Insurance Workers Sick From Pigeon-Infested Building

CARSON CITY, NV - Officials shut down the Nevada Division of Insurance office in Carson City on Tuesday and placed most of the 75 workers on paid administrative leave, this while the state finds a new building to conduct business due to the infestation of pigeons in the current building that is causing...

CA: WCIRB Violates Open-Access Agreement with Department

Workers’ Comp Executive, in an exclusive story, reveals that Workers’ Compensation Insurance Rating Bureau (WCIRB) is failing to honor its agreement with Department of Insurance for open access and meetings. > Read more © Copyright 2010 Workers’ Comp Executive. Reprinted...