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Workers' Compensation News

Final Texas Form TWCC-66a Issued for Pharmacies 11/05/2002
State: Natl. | Segment: Top | 68 | 0
With the adoption of Rule 134.501, the Commission now issues a final Form TWCC-66a (dated 01/01/03 in the lower left corner), which replaces forms currently in use. This new form is required beginning January 1, 2003,...Read More
First Health 3Q Shows Record Revenue - Up 35% 11/05/2002
State: Natl. | Segment: Top | 60 | 0
Edward L. Wristen, President and Chief Executive Officer of First Health Group Corp. (Nasdaq: FHCC), announced yesterday the results of operations for the third quarter ended September 30, 2002. Highlights include: * Record revenue of $204.9 million, up 35% from 3Q 2001 * Record income of $33.7 mill...Read More
Florida Council Pitches Reform Ideas 10/31/2002
State: Natl. | Segment: Top | 81 | 0
The Florida Insurance Council reports that the Three-Member Panel on Workers' Compensation has approved the outlines of a reform plan that if endorsed by the Legislature would be the most radical change in the comp system since the introduction of wage loss in 1979. Dubbed "FairCare," the ...Read More
FL Moves to Liquidate Aries Ins. Co. 10/30/2002
State: Natl. | Segment: Top | 130 | 0
Florida regulators have requested that property/casualty insurer Aries Insurance Co. of Miami be liquidated immediately. The move comes seven months after the company volunteered to go into receivership. The company is contesting the Department's move and a hearing is scheduled for Nov. 4 on...Read More
Fitch Issues Lumbermens Credit Analysis Report 10/29/2002
State: Natl. | Segment: Top | 57 | 0
Fitch Ratings (Fitch) yesterday issued a credit analysis report on Lumbermens Mutual Casualty Company (Lumbermens), the lead property-casualty insurance underwriting subsidiary of the Kemper Insurance Companies (Kemper) group. Fitch currently rates the surplus notes of Lumbermens 'BB-'. Fitch also h...Read More
Fitch: No Rate Action vs. Lincoln, Still Strong 10/29/2002
State: Natl. | Segment: Top | 56 | 0
Fitch Ratings is not taking a rating action on Lincoln National Corporation (LNC) or any of its subsidiaries in response to yesterday's announcement that the company will increase reserves on its exited reinsurance business by a pretax amount of $270 million. Furthermore, although Fitch expects thir...Read More
Florida Coalition Presents Comp Reform Proposal 10/29/2002
State: Natl. | Segment: Top | 72 | 0
Yesterday a Florida coalition of business and insurance interests presented a workers' compensation reform package to the Governor's Commission. Picking up where it left off last year, the coalition of business and insurance has proposed a workers' comp reform package that would eliminate h...Read More
Fitch Places Cigna on Rating Watch Negative 10/23/2002
State: Natl. | Segment: Top | 81 | 0
Fitch Ratings has placed the ratings on Cigna and Connecticut General Life Insurance Company (CG Life) on Rating Watch Negative. The rating action affects approximately $1.6 billion of debt outstanding as of June 30, 2002. The rating action primarily reflects Fitch's concern regarding rec...Read More
Feds Do Not Get Priority Over St Guaranty Funds 10/16/2002
State: Natl. | Segment: Top | 98 | 0
Last month the U.S. Court of Appeals for the 1st Circuit ruled that the federal government does not automatically have priority over state guaranty funds in insurance company liquidations, but also that the federal government is not bound by claims-filing deadlines in states’ insurance guaranty fu...Read More
Florida Fatalities up 12% Led by Transportation 10/15/2002
State: Natl. | Segment: Top | 76 | 0
The Florida Department of Insurance, Division of Workers' Compensation, released a census report revealing that workplace fatalities in Florida rose by 12 percent in 2001, marking the first increase in three years. Specifically, there were increases in the number of fatalities due to exposure to har...Read More
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