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Workers' Compensation News

Florida Contractors Guilty of $2.7M Fraud Scheme 10/25/2001
State: Natl. | Segment: Top | 80 | 0
Two South Florida residents and two construction companies have been ordered to make restitution in the amount of $1.4 million to FCCI Mutual Insurance Co. of Sarasota for workers' compensation fraud. William D. Johnson of Miami and Debra Carman of Miami Beach each pleaded guilty to one count of ...Read More
Fitch Rates Zenith an A- 10/11/2001
State: Natl. | Segment: Top | 120 | 0 | Popular with Legal
Fitch has assigned an `A-' insurer financial strength rating to Zenith National Insurance Corp.'s (Zenith National) three insurance subsidiaries, Zenith Insurance Company (Zenith Insurance), ZNAT Insurance Company and Zenith Star Insurance Company. Fitch has also assigned a long-term issuer rating o...Read More
Fitch Downgrades At. Mut. and Kemper 09/24/2001
State: Natl. | Segment: Top | 51 | 0
Fitch has downgraded the insurer financial strength (IFS) ratings of the Atlantic Mutual Companies (AMC) from `A' to `A-', and of the Kemper Insurance Companies (KIC), lead by Lumbermens Mutual Casualty Co. (Lumbermens), from `A' to `A-', and has also placed the ratings on Rating Watch Negative.A...Read More
Frontier Pacific in Conservation 09/08/2001
State: Natl. | Segment: Top | 76 | 0
Frontier Pacific Insurance Company (FPIC), based in San Diego, was placed in conservation Friday after California Insurance Commissioner Harry W. Low received a conservation order from the Superior Court of San Diego. The court found the company insolvent after an audit determined that FPIC was...Read More
Florida Defense Attorneys Paid Most per Claim 08/31/2001
State: Natl. | Segment: Top | 45 | 0
Workers' compensation claim costs grew significantly in Florida in the late 1990s, according to a study by the Workers Compensation Research Institute. The study reported that claim costs rose nearly 9.5 percent in 1998, the latest year with available data, following several years of double-d...Read More
Firemen's Fund Downgraded by A.M. Best 08/31/2001
State: Natl. | Segment: Top | 149 | 0 | Popular with Insurance
The financial strength rating of Fireman's Fund Insurance Companies (FFIC), Novato, California has been downgraded by A.M. Best Co. from A++ (Superior) to A (Excellent). A.M. Best says that they are concerned with the treatment of FFIC as a core subsidiary of the Allianz A. G., Munich, German...Read More
Florida Rate Increase Recommended at 7.2% 08/28/2001
State: Natl. | Segment: Top | 91 | 0
The National Council on Compensation Insurance, Florida's rate advisory body, has recommended a statewide average 7.2 percent rate hike for Florida's work comp policyholders next year. The proposed hike includes a 4.7 percent rise for carriers' experience, trend, and benefit changes, 0.8 percent for...Read More
Fremont Posts Gain on Financial Services; WC Down 08/13/2001
State: Natl. | Segment: Top | 78 | 0
Fremont General Corporation (NYSE: FMT) (the 'Company') reported net income of $14,813,000 for the second quarter of 2001. This was comprised of net income from continuing operations of $14,284,000 and an after tax gain on the extinguishment of debt of $529,000. On a per share basis, the Company rep...Read More
Farmers Adjusters Win $90 Million Verdict 07/12/2001
State: Natl. | Segment: Top | 116 | 0
In widely reported news yesterday, Farmers Insurance Exchange got dealt a $90 million judgment in a class-action lawsuit on behalf of claims examiners on the claim that the carrier for years cheated them out of overtime pay. The judgment, by an Alameda County Superior Court jury in Bell vs. Fa...Read More
Final Hospital Cost Outlier Regs Implemented 06/08/2001
State: Natl. | Segment: Top | 85 | 0
The Department of Industrial Relations has released the final regulations regarding reimbursement methodology for cost outlier cases; DRG weights to fiscal year 2001 levels established by the Health Care Financing Administration (HCFA); and the individual 'composite factors' based on HCFA's Hospital...Read More
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