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Workers' Compensation News

Bankruptcy Sale Threatens WV System Even More 02/19/2004
State: WV | Segment: Top | 84 | 0
The West Virginia workers' compensation system is in such dire straits, that the single sale of a steel manufacturer threatens to pile even more costs on to employers trying to cope with the state's moribund system.Weirton Steel Corp. is pending a $255 million bankruptcy sale to Internationa...Read More
BEST Downgrades Harleysville P/C Members to 'A-' Rating 02/18/2004
State: NA | Segment: Top | 726 | 0
A.M. Best Co. has downgraded the financial strength ratings to A- (Excellent) from A (Excellent) for the property/casualty pool members of Harleysville Insurance (Harleysville) (Harleysville, PA). Concurrently, A.M. Best has downgraded the debt ratings of Harleysville Group Inc.'s (HGIC) [NASDAQ: HG...Read More
Best Rates Montpelier's $500M Self Offering 'bbb' 02/16/2004
State: NA | Segment: Top | 104 | 0
A.M. Best Co. has assigned indicative ratings of "bbb" senior unsecured debt, "bbb-" subordinated debt and "bb+" preferred stock to Montpelier Re Holdings Ltd.'s (Montpelier) [NYSE:MRH] (Bermuda) recently filed $500 million universal shelf offering. A.M. Best has also affirmed the debt ratin...Read More
Best Doctors Will Consult AM-RE on Catastrophic Injuries 02/13/2004
State: NA | Segment: Top | 150 | 0
American Re-Insurance Company announced yesterday that its affiliate, AM-RE Services, Inc., entered into an exclusive agreement with Best Doctors(R), Inc. to improve medical outcomes and help American Re's clients reduce overall workers' compensation claims costs by providing experts to consult on c...Read More
BCF Technology Launches First Notice/Loss Solution 02/05/2004
State: NA | Segment: Top | 109 | 0
BCF Technology, Inc., a provider of web services, data integration & aggregation, competitive intelligence, and single sign-on technology solutions for the insurance and financial services industries, announces the launch of its First Notice of Loss (FNOL) integration solution for the insurance indu...Read More
Brown&Brown Acquires Blumberg Assoc Eff 2/1 02/04/2004
State: NA | Segment: Top | 156 | 0
Thomas E. Riley, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Arthur L. Blumberg, President of Blumberg Associates, Inc., of West Hartford, Connecticut, Tuesday announced the asset acquisition of Blumberg Associates, Inc. by Brown & Brown, Inc. The transaction is effe...Read More
BB&T Completes Acquisition of McGriff, Seibels & Williams 02/03/2004
State: NA | Segment: Top | 97 | 0
BB&T Insurance Services late Sunday completed its acquisition of McGriff, Seibels & Williams Inc. of Birmingham, Ala., creating the sixth largest insurance broker in the nation. The transaction was valued at $300 million in stock (based on an average closing price of $36.47 during a five-...Read More
Best Lowers Rating of Am Physicians, AP Responds 01/30/2004
State: NA | Segment: Top | 337 | 0
A.M. Best Co. has downgraded the financial strength ratings to B+ (Very Good) from B++ (Very Good) of the American Physicians Assurance Corp (APA) and APSpecialty Insurance Corporation (APSpecialty). Additionally, A.M. Best has downgraded the financial strength rating to B- (Fair) from B...Read More
Budget Goof Means CA DWC Out of Money in 5 Weeks 01/29/2004
State: CA | Segment: Top | 282 | 0
Due to a major budgetary oversight, the California Division of Workers' Compensation may not be able to keep the lights on in five weeks. A clerical error in the budget signed by former Governor Gray Davis' means the DWC is short $54.6 million.The error occurred after Davis signed AB 227, wh...Read More
Baldwin & Lyons Report Record Operating Income 01/29/2004
State: NA | Segment: Top | 126 | 0
Baldwin & Lyons, Inc. (Nasdaq: BWINA - News, BWINB - News) yesterday announced record fourth quarter operating income, defined as net income excluding capital gains or losses, of $7.1 million, or $.48 per share, compared to $6.7 million, or $.46 per share, for the fourth quarter of 2002. Net capital...Read More
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