Insurance Journal - Every year, errors and omissions (E&O) claims arising out of the placement of workers’ compensation account for approximately 10 percent of all claims. Many of those workers’ comp claims are well in excess of $100,000. Details of those claims show that there are several areas where “errors” can occur.
Wednesday, July 18, 2012
Business Insurance - Every performer worries about wardrobe malfunctions causing embarrassment, but Katy Perry’s insurers are worried certain parts of her on-stage costumes could cause permanent injuries, according to the London Evening Standard. Insurers have become particularly concerned with the mechanized, spinning peppermint candies attached to one of Ms. Perry’s bras, which the singer can be seen wearing in several scenes of her new film, “Katy Perry: Part of Me.” According to the Evening Standard, Ms. Perry’s hair has a tendency to get caught in the bra’s motors.
Friday, July 13, 2012
Insurance Journal - Workers’ compensation claim frequency declined slightly in 2011, by a modest one percent, after increasing in 2010 for the first time in more than a decade. According to the industry’s rating and statistical organization NCCI Holdings, frequency declined in 2011 for all industry groups, geographic regions, employer sizes and claim types. Percentage frequency declines were relatively consistent by type of injury. Claim frequency for workers compensation injuries increased three percent in 2010, which was the first increase since 1997.
Friday, July 13, 2012
Business Insurance - Lump-sum settlement of workers compensation claims encourage injured employees to return to work, the Workers Compensation Research Institute reported Wednesday. Whether lump-sum settlements discourage or encourage employees to return to work post injury has been a topic of debate, the WCRI said. Some observers believe that receiving a large, lump sum delays returning to work as employees feel less immediate need for income while other observers say the settlements provide a sense of claims closure that motivates restarting careers.
Thursday, July 12, 2012
North Bay Business Journal - Workers’ compensation insurance rates are climbing sharply in the North Bay, a trend that the region’s brokers attribute to the whittling away at system reforms, rising health care costs and increasing medical utilization that have helped inspire a third round of recommended rate increases by California’s insurance commissioner.
Tuesday, July 10, 2012
Fox News - The rotor blades of a helicopter landing on rugged, remote terrain struck a California Highway Patrol officer and severely injured him as he helped rescue an injured hiker, officials said Monday. Officer Tony Stanley was one of two officers called out to pick up a hiker who had broken a leg and dislocated an ankle during a hike Thursday through the Shasta-Trinity National Forest in Northern California, said CHP Lt. Scott Fredrick. After the helicopter landed on what Fredrick described as a granite rock next to a steep embankment, Stanley was hit by the aircraft’s rotor blades as he started to climb up the embankment to get to the hiker.
Tuesday, July 10, 2012
Insurance Journal - Illinois insurance regulators announced that Lumbermens Mutual Casualty Co. (Lumbermens) and American Manufacturers Mutual Insurance Co. (American Manufacturers) have agreed to being placed into rehabilitation. The Illinois Department of Insurance said under an Agreed Order of Rehabilitation payment of policyholder claims will continue under the direction of the department’s director.
Thursday, July 05, 2012
Insurance Journal - Insured losses from two wildfires in what’s shaping up to be a historic wildfire season for Colorado may be into the “hundreds of millions of dollars,” an insurance industry association executive said on Monday. The Waldo Canyon Fire near Colorado Springs, which started on June 23 and is now 55 percent contained, is the most destructive in Colorado history with 346 homes lost. The High Park Fire, which raged throughout much of June, is 100 percent contained, though it continues to smolder. It’s estimated 259 homes were lost in...
Tuesday, July 03, 2012 - A firefighter is recovering from burns he received while battling a Sanford house fire that left seven people displaced. Everyone got out in time, but the house on Elm Avenue suffered major damage. The firefighter, whose name has not been released, was transported to Central Florida Regional Hospital in Sanford with burns on both hands from the fire. The people who were renting the home told WFTV they heard a loud explosion in the back of the house right before the fire.
Tuesday, July 03, 2012 - After burning for two days, public safety officials in Cayce say an industrial fire at World Wide Recycling is out. The fire started just before 9 a.m. Friday, creating a plume of black smoke that could be seen for miles. Emergency crews cleared the scene Sunday morning. On Saturday, crews used heavy equipment to push and expose debris so they could douse the smoldering ruins. Fire crews had been on the scene since Friday morning.
Monday, July 02, 2012
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