Worker Safety a Key Need as Construction Industry Rebounds
A recent report citing data from the U.S. Bureau of Labor Statistics notes that the construction industry’s 2012 fatality rate increased to 9.5 per 100,000 workers from 9.1 per 100,000…
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Underwriting
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Four Ways Insurers Use Tech to Outperform the Market
In the last 5 years, the level of premiums written by commercial insurers have decreased by double-digit percentages. However, certain “Alpha” companies have used big data and analytics to outperform…
Commercial Lines Insurance Pricing Up 5% in Third Quarter
According to Towers Watson & Co.’s most recent Commercial Lines Insurance Pricing Survey, commercial lines insurance premiums were up 5%. The lines of business recording the biggest price increases included…
Dave Jones Approves 7.6% CA Workers’ Comp Hike
In a late November announcement California Insurance Commissioner Jones approved a 7.6% increase for the 2014 workers’ comp pure premium advisory rates. The decision by the California Department of Insurance…
NCCI Recommends 2.3% Increase in GA Work Comp Rates
Due to Georgia’s work comp medical claim severity climbing 5% in 2011 from 2010 and lost-time claim frequency in the state growing 4.5% in 2011 compared with the prior year,…
Underwriting and Business Intelligence: Art Meets Science | PropertyCasualty360
“There is a significant cultural issue. nsurers need to be willing to embrace business intelligence to transform the art of underwriting into a blend of science and art. It has to…
Several States Seek Work Comp Rate Hikes for 2014
The NCCI made recommendations to several states to increase workers’ compensation rates. Among them are FL at 0.7%, CO at 2.6% and AZ at 3.2%. Do you have the latest…
Commercial Property/Casualty Insurance Rates to Rise This Year
U.S. commercial property & casualty rates should continue increasing for the rest of the year, according to Moody’s Investors Service: Commercial property/casualty insurance rates to rise this year: Moody’s |…