Live Insurance News

California workers compensation rates are on their way down, but remain expensive

October 18, 2018October 17, 2018 Nordstrom

California Workers Compensation - Construction Worker

The premiums dropped across the country, but those in the state still come with the highest price. A new study shows that California workers compensation rates have followed the dropping trend seen across the country. The coverage is becoming more affordable nationwide. That said, the Oregon Department of Consumer and Business Services found that California’s rates are still among the highest. California’s rates for workers’ compensation coverage are among the worst in the United States. The department published its Oregon Workers’ Compensation Premium Rate Ranking Summary, a report it issues…

Dave Jones wants more entries to the California marijuana insurance market

September 4, 2018September 3, 2018 Nordstrom

California marijuana insurance - Marijuana plant

The California Insurance Commissioner has called on insurers to help fill coverage gaps in this marketplace. Insurance Commissioner Dave Jones recently called on insurers to take part in the California marijuana insurance market. The goal is to help to fill the coverage gaps that exist among businesses seeking to grow and distribute this drug. California state law says that medical marijuana is legal, though federal law still considers it illegal. Jones’s announcement was made at the same time that a new workers’ compensation insurance program was launched. Atlas General Insurance…

US workers compensation industry will continue to be profitable this year

August 9, 2018August 8, 2018 H. Cutner

US workers compensation - safety shoes - screw - risk of accident

Fitch data showed that the market remained strong throughout 2017 with positive 2018 performance. New Fitch Ratings data shows that the US workers compensation industry did well last year and may continue to see underwriting profits this year. The data from last year until now shows a trend of strong performance, though that could change. Last year’s strong US workers compensation performance represented the third consecutive year following that trend. The industry statutory combined ratio was around 92 percent, said Fitch Ratings data. The recent Fitch Ratings report showed that…

Nine Californian Restaurants receive workers compensation fines

July 30, 2018July 29, 2018 Nordstrom

Restaurants in one state county received over $200,000 in admin fines for failing to cover employees. Nine restaurants in California are now facing substantial workers compensation fines for failing to adequately cover their employees. The fines were the result of a joint enforcement strike force investigation in Contra Costa County. The strike force issued over $200,000 in total administrative workers compensation fines. The fines were issued to the Contra Costa County restaurants for failing to cover their employees according to state laws. The investigators were from the California Department of…

Louisiana workers compensation sees few claims but high costs

July 17, 2018July 16, 2018 Logan B.

Louisiana workers compensation - Worker - Construction

Employees in the state are less likely to be injured than in any other place across the country. The Louisiana workers compensation program functions in a curious way. Despite the fact that employees in the state are less likely to be injured than those in any other state, the coverage still comes with high costs. The costs of workers compensation insurance in the state have been steadily falling for years. Comparing the cost of Louisiana workers compensation clearly shows that the actual costs are dropping. In fact, this has been…