Agents ask lawmakers in Missouri to exert caution in workers’ compensation changes

Missouri Workers Comp news… Agents have been warning lawmakers in Missouri to use caution as they consider making changes to the workers’ compensation firm created by the state, and which has received criticism from the state auditor for having taken advantage of a federal tax exemption as it spent large amounts on its own perks. A Senate committee has already endorsed the legislation which would establish a special panel that will examine whether or not the Missouri Employers Mutual Insurance Co. law from 1993 needs to be altered. This research…

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Auto insurance data spat could lead...
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California brain injury case results in largest workers’ compensation settlement in state history

The largest known settlement in California workers’ compensation insurance has just been secured by attorney Christopher Asvar, totaling $8.9 million for his client who suffered a traumatic brain injury while in the workplace. According to well-known specialist in structured settlements, Steve Chapman, who was involved in the case, “This settlement is the highest anyone is aware of for a California workers’ compensation award”. Asvar is a specialist in the area of brain injury litigation, both civil and workplace, and was substituted into this case three years ago. The client in…

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Pennsylvania workers’ compensation insurance costs drop by an average of 5.7%

Amidst news of insurance rate hikes from throughout the country, the Pennsylvania Department of Insurance offers a change of pace. State regulators have announced the approval of a 5.7% decrease in workers’ compensation costs. The rate reduction is estimated to save the state’s employers approximately $160 million. The 5.7% decrease is a reflection of average reductions throughout the state and will not affect all consumers in Pennsylvania. Some will see higher rates while others see no changes at all, according to regulators. Insurance Commissioner Mike Consedine believes that the rate…

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Employers in California pay slightly more into premiums for workers’ compensation insurance

According to Dave Jones, the California insurance commissioner, the top 100 companies in the state, which make up 96.7 percent of its market, have increased the rates that they have filed by an 2.8 percent average so far this year. The average increase will impact the majority of businesses that are legally required to purchase plans that pay for an injured employee’s medical expenses when the injury occurred while on the job, and that offers compensation for work related disabilities both temporary and permanent. The majority of the policies held…

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New task force launched in California to fight against insurance fraud and an underground economy

The California Department of Insurance has announced that it will be joining the Department of Industrial Relations to fight against the state’s emerging underground economy. The two agencies have formed the Labor Enforcement Task Force in order to crack down on the violations against the state’s insurance and labor regulations that are rampant in this offshoot economy. Insurance Commissioner Dave Jones notes that this economy is mostly comprised of businesses who hire employees that are not fit for certain types of work. These businesses often fabricate documents concerning their employees…

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Rates for Florida workers’ compensation to increase by 8.9 percent by 2012

According to Kevin McCarty, the Florida Insurance Commissioner, the insurance rates for workers’ compensation are slated to increase by 8.9 percent, and will do so beginning on January 1, 2012.  By giving his approval for the rise in rates, McCarty has simultaneously refused the National Council on Compensation Insurance (NCCI) rate request, stating that there was a flaw in the council’s methodology.  Equally, McCarty has denied another increase proposal by the NCCI regarding minimum premiums.  Should the NCCI wish to continue to pursue its request, it will need to re-file. …

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New report shows cost of workers’ compensation dropped during global economic crisis

In 2009, at the start of the global economic crisis, there was a decrease of 4.4 percent in the number of employees who had workers’ compensation coverage. According to a National Academy of Social Insurance report, this drop was the largest in twenty years. The result was that the cost to employers for providing the benefits decreased by 7.6 percent, reaching $73.9 billion that year; which is the most recent year with complete data. This drop closely mirrors the overall decline in employment in the country. According to the chair…

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