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Workers' Compensation News

BISYS Acquires USA Ins, Expanding Its P/C Field 11/11/2003
State: NA | Segment: Top | 460 | 0
BISYS, a provider of business process outsourcing solutions for the financial services sector, yesterday announced its acquisition of Florida-based USA Insurance Group, a managing general agency (MGA) serving the commercial property and casualty (P&C) insurance marketplace. T...Read More
Best Report: Premiums Not Keeping Up w/ Inflation 11/05/2003
State: NA | Segment: Top | 252 | 0
Rating agency A.M. Best, in their annual report on the work comp industry, says that while workers' compensation premiums rose 14.2% on average in 2002, the increases were barely sufficient to keep in line with rising medical and litigation costs. Reflecting continued firming in the business...Read More
Best Downgrades Clarendon on Hanover News 11/05/2003
State: NA | Segment: Top | 206 | 0
A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) of Clarendon Insurance Group (Clarendon) (Wilmington, Del.) and its property/casualty affiliates. The outlook for the rating is stable. The downgrade of Clarendon reflects the recent downgrade ...Read More
Brown & Brown Acquires Benefit Resource Inc. 10/31/2003
State: NA | Segment: Top | 274 | 0
Scott Penny, Regional Executive Vice President of Brown & Brown, Inc. (NYSE: BRO), and Eric E. Anderson, Chairman of Benefit Resource, Inc., Benefit Resource of Indiana, Inc. and Business Benefits Group, Inc., with offices in Owensboro, Kentucky and Newburgh, Indiana, yesterday announced the asse...Read More
Blatant Disregard Warrants Max OSHA Penalty 10/30/2003
State: NY | Segment: Top | 192 | 0
As the result of its alleged failure to correct workplace safety hazards for which it was previously cited by the U.S. Labor Department's Occupational Safety and Health Administration (OSHA), Chester Manufacturing Co. of 250 Sawyer Ave., Tonawanda, N.Y., has now been cited by OSHA for three "failure...Read More
Best Rates Odyssey Re Notes, Strength Unchanged 10/30/2003
State: NA | Segment: Top | 158 | 0
A.M. Best Co. has assigned a senior debt rating of "bbb" to Odyssey Re Holdings Corp's (Odyssey Re) (New York) [NYSE: ORH] $150 million 7.65% senior notes due 2013. Existing debt and shelf ratings of Odyssey Re as well as the financial strength ratings of A (Excellent) for the members of Ody...Read More
Baldwin & Lyons Releases 3Q Operating Income 10/29/2003
State: NA | Segment: Top | 88 | 0
Baldwin & Lyons, Inc. (Nasdaq: BWINA BWINB) yesterday announced record third quarter operating income, defined as net income before capital gains or losses, of $6.8 million, or $.46 per share. This compares to operating income of $6.1 million, or $.41 per share, for the third quarter of...Read More
Brown & Brown Increases Dividend 22% 10/23/2003
State: NA | Segment: Top | 115 | 0
Brown & Brown, Inc. (NYSE: BRO) yesterday announced that the Board of Directors has increased the regular quarterly cash dividend rate to $.07 per share. This is a 22% increase over the current rate of $.0575 per share. The Board declared that the first payment at the new dividend rate is...Read More
Benchmark Med Targets SoCal: Hires Allison Brigham 10/21/2003
State: CA | Segment: Top | 297 | 0
In a move it says intended to solidify the company's position in as medical-legal consulting, Benchmark Medical Consultants yesterday announced the hiring of Allison Brigham to spearhead the company's expanded operations in Southern California. Benchmark currently provides administrative s...Read More
Best Gives LA Self Insurers Fund A- Rating 10/16/2003
State: LA | Segment: Top | 275 | 0 | Popular with Insurance
A.M. Best Co. has assigned an initial financial strength rating of A- (Excellent) to Louisiana United Businesses Self Insurers Fund a.k.a. LUBA Workers' Comp (Baton Rouge, LA). The rating outlook is stable. The rating reflects LUBA Workers' Comp's strong risk-adjusted capitalization, its ...Read More
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