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Workers' Compensation News

Sedgwick Gets ISO 9002 Certification of Quality 11/06/2002
State: Natl. | Segment: Top | 65 | 0 | Popular with Legal
Sedgwick Claims Management Services, Inc. (Sedgwick CMS) has been awarded ISO 9002 Quality Certification for clinical management services. The certification applies to all medical case management services provided by the Care30 offices of Sedgwick Managed Care, a division of Sedgwick CMS. SGS Intern...Read More
S&P Downgrades American Compensation 11/05/2002
State: Natl. | Segment: Top | 67 | 0
Standard & Poor's Ratings Services said yesterday that it lowered its financial strength rating on American Compensation Insurance Co. (ACIC) to single-'Bpi' from triple-'Bpi' because for year-end 2001 and 2000, ACIC had a total net after-tax loss of nearly $30 million. This loss weakened ...Read More
S&P Downgrades AON on Equity/Debt Announcement 11/04/2002
State: Natl. | Segment: Top | 45 | 0
Standard & Poor's Ratings Services said Friday that it placed its ratings on Aon Corp., including its single-'A'-minus counterparty credit rating, on CreditWatch with negative implications following the company's third-quarter earnings announcement, in which Aon said that it intends to raise $500 mi...Read More
Safeco Announces Big Rebound for 3Q 10/29/2002
State: Natl. | Segment: Top | 57 | 0
SAFECO (Nasdaq: SAFC) yesterday reported continued earnings growth as third-quarter net income increased to $75.2 million, or $0.59 per diluted share. Income before charges and realized gains increased to $86.4 million, or $0.68 per diluted share. This compares favorably with a net loss of...Read More
S&P Affirms New Mex Mutual Ratings 10/28/2002
State: Natl. | Segment: Top | 86 | 0
Standard & Poor's Ratings Services said Friday it affirmed its triple-'Bpi' financial strength rating on New Mexico Mutual Casualty Co. and its fully reinsured affiliate, Southwest Casualty Co. "Key rating factors include strong capitalization and favorable reserve development offset by hi...Read More
St. Paul Cos Post 3Q Net of $63.3M 10/24/2002
State: Natl. | Segment: Top | 50 | 0
The St. Paul Companies (NYSE:SPC) today announced third-quarter 2002 net income of $63.3 million, or $0.27 per share, vs. a third-quarter 2001 net loss of $658.7 million, or $3.16 per share, which included $606 million of after-tax losses associated with the Sept. 11, 2001, terrorist attack in the U...Read More
Sierra Health Announces 3Q Earnings 10/22/2002
State: Natl. | Segment: Top | 37 | 0
Sierra Health Services Inc. (NYSE:SIE) reported yesterday that income from continuing operations for the quarter ended Sept. 30, 2002 was $12.1 million or $0.38 per diluted share, compared to income from continuing operations of $4.6 million or $0.16 per diluted share for the quarter ended Sept. 30,...Read More
Seibels Bruce Releases QualSure Ownership 10/10/2002
State: Natl. | Segment: Top | 57 | 0
The Seibels Bruce Group, Inc. (OTC Bulletin Board: SBIG), which was disciplined in August for writing workers' compensation insurance in Arizona against a South Carolina Insurance Department order, yest...Read More
San Diego Transit Reserves Up 100%, Claims 13% 10/10/2002
State: Natl. | Segment: Top | 31 | 0
North County Transit District of San Diego has experienced a 100% increase from just two years ago in its reserves for pending workers' compensation claims even though the volume of those claims has increased only 13%, according to the San Diego Union-Tribune. As of June 30, the transit dist...Read More
SCIF President Says WC in Financial Crisis 10/02/2002
State: Natl. | Segment: Top | 60 | 0
Outgoing State Compensation Insurance Fund president, Ken Bollier, was quoted in the 10/01 issue of Insurance Day as stating that workers' compensation in California is in the worst financial crisis since the Great Depression.Citing the fact that many carriers have in recent times become in...Read More
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