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Workers' Compensation News

S&P Gives Sable an 'R' Rating 05/18/2001
State: Natl. | Segment: Top | 87 | 0
Sable Insurance Co. (Sable), which was placed into conservation on May 11, 2001, by California's Department of Insurance owing to its insolvency of more than $12.9 million, was assigned an 'R' financial strength rating by Standard & Poor's yesterday. Sable, a subsidiary of Reliance National ...Read More
S&P Affirms Lumbermens/Kemper; Stable Outlook 05/17/2001
State: Natl. | Segment: Top | 99 | 0
Standard & Poor's has affirmed all outstanding interactive ratings on Lumbermens Mutual Casualty Cos. (the Kemper Insurance Cos., collectively Kemper) with a stable outlook. According to S&P, Kemper occupies a strong business position as one of the top five players in the workers' compensat...Read More
SB 71 Moves Out of Committee 05/11/2001
State: Natl. | Segment: Top | 167 | 0 | Popular with Legal
On May 9, 2001, SB 71 moved out of committee on a 5 to 3 vote. The bill, sponsored by Senator Burton and coauthored by Senators Alarcon and Calderon, has undergone substantial changes, with open areas for inclusion of specific rate increases, along with other items. Specif...Read More
S&P Removes SCIF from CreditWatch 05/08/2001
State: Natl. | Segment: Top | 87 | 0
Standard & Poor's removed from CreditWatch and lowered its counterparty credit and financial strength ratings on the California State Compensation Insurance Fund yesterday to triple-'B'-plus from single-'A'. These ratings had been placed on CreditWatch on April 17, 2001, with negative implications. ...Read More
Santa Ana Jockey Arrested for Comp Fraud 05/05/2001
State: Natl. | Segment: Top | 83 | 0
California Department of Insurance (CDI) Investigators have arrested a Santa Ana resident on insurance fraud. Carlos Cristo, 31, was arrested at his residence pursuant to an arrest warrant issued by the Orange County Central Court. Cristo was transported to Orange County Central Jail and hi...Read More
Sierra Health Reports Improved Performance 05/03/2001
State: Natl. | Segment: Top | 79 | 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 | 253 | 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 | 119 | 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 | 110 | 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 | 112 | 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
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