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Workers' Compensation News

Safeco Repurchases 2.75 M Shares 07/26/2005
State: NA | Segment: Business | 100 | 0
Safeco announced Monday it has repurchased 2.75 million shares -- approximately 2.15 percent of its outstanding common stock -- through an Accelerated Share Repurchase (ASR) program. The shares were purchased from a dealer (JP Morgan) at $54.50 per share, for a total cost of approximately ...Read More
SEC Plans Civil Action against RenaissanceRe CEO 07/26/2005
State: NA | Segment: Business | 150 | 0
RenaissanceRe Holdings Ltd. announced Monday that the U.S. Securities and Exchange Commission gave notice that its staff will recommend civil action against Chairman and CEO James N. Stanard and former Senior Vice President Michael W. Cash in connection with the reinsurer's finite risk transactions....Read More
SCIF Foe Invites Congressional Probe 07/25/2005
State: CA | Segment: Other | 222 | 0
California injured worker Larry Nign, whose battle with State Compensation Insurance Fund is documented for TV in "Almost Broken," wrote a high-ranking senator asking that Congress investigate alleged wholesale violations of patient medical-records privacy law. In a June 21 letter to Senat...Read More
Shea to Replace McCarter on Mont. Court 07/25/2005
State: MT | Segment: People | 168 | 0 | Popular with Legal
The 12-year reign of Montana Workers' Compensation Court Judge Mike McCarter will end when his six-year term expires on Sept. 7. Gov. Brian Schweitzer appointed Jim Shea, a 39-year-old Missoula attorney who specializes in representing railroad workers' with their comp claims, to head the Wo...Read More
Study Suggests Delayed Treatment Increases Costs 07/22/2005
State: NA | Segment: Other | 165 | 0
A study by the Workers' Compensation Research Institute bolsters arguments that prompt and appropriate medical care controls claims costs. The research organization found that the workers' compensation systems in California and Texas experienced far more "adverse surprises" -- meaning case...Read More
Suffolk County Cop Charged With Faking Injury 07/22/2005
State: NY | Segment: Fraud | 189 | 0
A Suffolk County, N.Y., patrolman who spent two years on leave for an injured wrist was arrested and charged with larcency after fraud investigators videotaped him doing yard work and volunteering as a firefighter. Officer Michael Forman of the Suffolk County Police Department pleaded not ...Read More
Scheiber Picked to Head S.D. Insurance Dept. 07/21/2005
State: SD | Segment: Regulatory | 148 | 0 | Popular with Array
Sioux Falls insurance executive Merle Scheiber has been appointed to head the South Dakota Division of Insurance, Secretary of Revenue and Regulation Gary Viken's office announced. "Our department is indeed fortunate to have found someone as qualified as Merle to assume the Director of I...Read More
Small-Business Forum 7/28 in Albuquerque 07/21/2005
State: NM | Segment: Events | 110 | 0
The state of New Mexico is hosting a free seminar, "Understanding Workers' Comp for Small Businesses, at 10 a.m. Thursday, July 28 in Albuquerque. The class begins at 10 a.m. and will run 90 minutes, followed by a short question-and-answer period. The course is tailored to small-business ow...Read More
Safeco Reports 24% Drop in 2Q Net Earnings 07/19/2005
State: NA | Segment: Business | 151 | 0
Safeco on Monday reported a 24 percent drop in second-quarter earnings, but called its results strong, with "profitable underwriting performance across all major lines of business." The company produced net income for the second quarter of $187.3 million, or $1.46 per diluted share. This ...Read More
Safeco's McGavick Quits for Possible Senate Run 07/19/2005
State: WA | Segment: Politics | 162 | 0
Safeco Chairman and CEO Mike McGavick announced Monday that he plans to resign his post on Aug. 31 and "give full consideration to public service." The Seattle Times reported that McGavick, a Republican, is considering a run against Democratic U.S. Sen. Maria Cantwell. Safeco is based in Se...Read More
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