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Workers' Compensation News

Execs Guilty - Borrowed Money not Used For Comp 11/25/2002
State: Natl. | Segment: Top | 70 | 0
Two former Monon Corp. executives were found guilty by a federal jury Friday of directing the fraudulent borrowing of millions of dollars to keep the trailer maker operating before it went bankrupt, displacing more than 1,000 workers. Jurors on Wednesday convicted former Monon chief execut...Read More
Equity Mutual S&P Ratings Lowered to 'CCC' 11/22/2002
State: Natl. | Segment: Top | 44 | 0
Standard & Poor's Ratings Services yesterday said it lowered its counterparty credit and financial strength ratings on Equity Mutual Insurance Co. (EMI) to 'CCCpi' from 'BBpi'. "The rating action reflects the significant decline in capitalization and surplus, poor operating results, and ad...Read More
Employers Mutual Gets S&P 'BBBpi' 11/20/2002
State: Natl. | Segment: Top | 92 | 0
Standard & Poor's Ratings Services said yesterday that it affirmed its 'BBBpi' counterparty credit and financial strength ratings on Employers Mutual Casualty Co. and related pool members (collectively referred to as EMC) based on the companies' improving operating performance, partially offset by d...Read More
EBI Claim Rep Busted Forging Checks 11/08/2002
State: Natl. | Segment: Top | 36 | 0
Dakota County, Minnesota, Attorney James Backstrom announced that Patricia Yvonne Dunlap, 39, Farmington, Minn., has been charged with three counts of theft by swindle in connection with intentionally reproducing and passing negotiable company checks totaling more than $231,000 from her employer, E...Read More
Erie Indemnity Net Up, But Underwriting Reports Lo 11/06/2002
State: Natl. | Segment: Top | 83 | 0
Erie Indemnity Company (Nasdaq: ERIE) reported net income per share of $.65 for the third quarter 2002 compared to $.48 for the same period in 2001, an increase of 34.7 percent. Net income for the quarter ended September 30, 2002, increased to $46,161,999 from $34,430,497 for the quarter ended ...Read More
Everest Re Reports 3Q Net Up 176% 10/23/2002
State: Natl. | Segment: Top | 133 | 0
Everest Re Group, Ltd. (NYSE: RE) reported third quarter 2002 after-tax operating income, which excludes realized capital gains and losses, of $66.5 million, or $1.29 per diluted share, compared to a loss of $37.8 million, or $0.82 per diluted share, in the third quarter of 2001. Net incom...Read More
Equitable Factors No Place in LHWCA Penalties 10/14/2002
State: Natl. | Segment: Top | 64 | 0
An opinion from the 9th Circuit of the US Court of Appeals last week opined that equitable factors have no place in determining application of a penalty under the Longshore and Harbor Workers' Compensation Act, even if the late payment was due to an erroneous address provided by the claimant....Read More
Endurance Specialty Buys Equity from Zurich 10/01/2002
State: Natl. | Segment: Top | 54 | 0
Endurance Specialty Holdings Ltd., the parent company of Endurance Specialty Insurance Ltd., announced yesterday that it has purchased 100% of the equity interests in Endurance owned by subsidiaries of Zurich Financial Services. The transaction totaled $100 million. The Zurich investment was initial...Read More
ExpertHR Expanding with More PEO Contracts 09/13/2002
State: Natl. | Segment: Top | 42 | 0
ExpertHR, Inc., a wholly-owned subsidiary of Greenland Corporation (OTC Bulletin Board: GLCP) yesterday reported that it has signed additional PEO contracts for $1.23 million. ExpertHR, organized in August, now has annual billings of approximately $5 million. "We are pleased at the early s...Read More
EPIX Signs with AIG for its Comp Coverage 08/29/2002
State: Natl. | Segment: Top | 43 | 0
EPIX Holdings Corporation, one of the nation's largest privately held Professional Employer Organizations (PEO) and listed at No. 185 on the Forbes Largest Private Companies 2001 list, announced yesterday that it has elected to change its current workers' compensation insurance carrier. Formerly wit...Read More
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