Business Insurance 2023 Data & Rankings In this special data and rankings issue of Business Insurance, we bring you our proprietary rankings from the past year plus other industry data to present a numerical overview of the commercial insurance market, from retail brokers to reinsurers and wholesalers to captive managers. Source …
In this special data and rankings issue of Business Insurance, we bring you our proprietary rankings from the past year plus other industry data to present a numerical overview of the commercial insurance market, from retail brokers to reinsurers and wholesalers to captive managers. Charts Source link
Help BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips. To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words. To search for a combination …
Tragic incidents at work, including employee shootings, often result in workers compensation claims. Earlier this year, the claim of an Orlando rental car company employee who was approved for workers compensation benefits after being shot while walking between his desk in a hotel and an office in a neighboring building was ultimately denied after a …
1. Shot rental car worker was not entitled to workers comp Read More »
The controversial trend of tacking on automatic tips to customer bills has attracted a lot of attention among the general public over the past couple of years, and in 2023 it also caught the eye of workers compensation officials. In June, the National Council on Compensation Insurance filed changes to its manual on premium calculations …
2. Automatic gratuities calculation was expected to raise comp costs Read More »
When the chief claims officer of Liberty Mutual Insurance Co.’s Global Risk Solutions business left the company in October, it prompted several leadership changes on the workers compensation side of the insurer’s business. Among the changes, Liberty Mutual announced in November that it had named Douglas Anderson leader of workers compensation claims for Global Risk …
3. Liberty Mutual announced claims leadership changes Read More »
Artificial intelligence has been billed as a technology that makes jobs easier and more efficient, and many experts in the workers compensation sector in 2023 appeared convinced that AI is already improving the claims management process. Claims professionals this year touted technologies such as AI and machine learning as helping to improve outcomes and detect …
4. AI was hailed as a boon to workers compensation claims Read More »
It has been a difficult year for food processing companies, as one employer was faulted for failing to evacuate workers from a manufacturing plant before a deadly explosion and others were cited by federal workplace safety regulators for serious injuries. In the failure to evacuate case, an R.M. Palmer Co. facility in West Reading, Pennsylvania, …
5. Candymaker failed to evacuate workers before deadly factory explosion Read More »
While many of the effects of long COVID remain a medical mystery, data from the workers compensation industry provided some clarity on how the condition, deemed a disability by the federal government, will affect claims activity. In a study released in August the Workers Compensation Research Institute found that 6% of workers with comp claims …
6. Long COVID present in 6% of comp claims: Study Read More »
While commercial insurance buyers have been hit by rate increases in numerous lines over the past five years, workers compensation coverage has remained remarkably stable by comparison. That trend continued in 2023 with average rates for comp coverage wavering between small decreases and tiny increases. A story about the continued profitability of the workers comp …
7. Comp rates showed little movement despite hikes in other lines Read More »