Unicover Debacle Good for Industry?

The aftermath of the Unicover debacle may in fact be responsible for the beginning of a turn around of the work comp industry, according to industry observers quoted by A.M. Best. Unicover Managers Inc., which changed its name to Cragwood Managers LLC following the start of the demise of the reinsurance pool in 1999, is 'effectively in liquidation,' according to U.S. District Court Judge Louis L. Stanton in recent court papers. The hardening of prices in the comp market post Unicover mess is in part due to a drop in capacity as well as removal of Unicover...