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Workers' Compensation News

Sierra Health Reports Improved Performance 05/03/2001
State: Natl. | Segment: Top | 55 | 0
Sierra Health Services, Inc. (NYSE: SIE), Las Vegas, NV, reported that income for the first quarter ending March 31, 2001 was $3.2 million or $0.12 per diluted share, compared to $1.6 million or $0.06 per diluted share, including charges, for the same period in 2000. Revenues for the first quarter o...Read More
Senators Call for Repeal of HIPPA 04/24/2001
State: Natl. | Segment: Top | 209 | 0
According to a report by the National Underwriting Company, seven Republican senators are urging the U.S. Department of Health and Human Services to reconsider the HEALTH INSURANCE PORTABILITY AND ACCOUNTABILITY ACT OF 1996, its controversial rule on medical privacy which went into effect 4/...Read More
SAFECO Performance Improving 04/24/2001
State: Natl. | Segment: Top | 86 | 0
Troubled P&C carrier, SAFECO, is reporting financial results that are 'right on target with our plans for the first quarter, and consistent with our goal to improve performance and create shareholder value,' according to Mike McGavick, president and chief executive officer in a press release yesterd...Read More
Supreme Crt: ADA Protect CT Claim? 04/19/2001
State: Natl. | Segment: Top | 85 | 0
The U.S. Supreme Court has agreed to hear two cases in which the principal issue is whether a worker with a repetitive trauma work place injury that prevents the worker from returning to his or her regular job qualifies for protection under the ADA when the company refuses to accede to the injured w...Read More
S&P Places SCIF on CreditWatch 04/18/2001
State: Natl. | Segment: Top | 85 | 0
Standard & Poor's placed its single-'A' counterparty credit and financial strength ratings on the California State Compensation Insurance Fund on CreditWatch with negative implications. S&P says that this rating action is based on concerns over the gradual deterioration of the fund'...Read More
S&P Lowers Rating on Paula Insurance 04/10/2001
State: Natl. | Segment: Top | 60 | 0
Standard & Poor's rating service (S&P) has lowered its financial strength rating on PAULA Insurance Co. (PAULA Insurance) to triple-'Cpi' from single-'Bpi'. The rating action reflects the company's deteriorating surplus, unfavorable recent reserve development, sustained high leverage, and contin...Read More
Sacramento Man Arrested for WC Fraud 03/26/2001
State: Natl. | Segment: Top | 65 | 0
Following a five-month investigation by the California Department of Insurance (CDI) Criminal Investigations Branch, a Sacramento man surrendered himself to authorities after a warrant had been issued for his arrest for insurance fraud. Richard Wayne Bento, 30, was arrested for five felony ...Read More
Sacramento Employer Arrested for WC Fraud 03/05/2001
State: Natl. | Segment: Top | 69 | 0
Following a joint 13-month investigation by the California Department of Insurance (CDI) and the California Employment Development Department (EDD), a Fair Oaks couple surrendered on four felony counts each of insurance fraud and two felony counts of tax fraud. Raymond Nunez, 54, and Sand...Read More
Supreme Court: Prejudgement Interest on 132a 02/26/2001
State: Natl. | Segment: Top | 67 | 0 | Popular with Legal
The California Supreme Court yesterday mandated that pre-judgment interest in accordance with Civil Code section 3287 be paid to an injured worker wrongfully denied reinstatement due to an industrial injury under Labor Code section 132a. The case is Lorne Currie vs. WCAB (LA County Metropol...Read More
Safeco Cuts Dividend in Half 02/09/2001
State: Natl. | Segment: Top | 34 | 0
Safeco Corp. has cut its quarterly dividend 50%, began a review of all of its operations and will make a series of 'tough decisions in the coming months.' The carrier...Read More
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