The average total cost per workers’ compensation claim in Illinois decreased 6.4 percent since 2010, but remained higher than most of the 17 other states, according to a report released last month by the Workers Compensation Research Institute (WCRI). “The …
Injuries stemming from a lack of machine safeguarding significantly increase metal fabricators’ worker compensation premiums and mods. In addition, it can lead to expensive Occupational Safety and Health Administration (OSHA) citations, a figure that reached $6.8 million in 2015 for …
Museum visitors snapping selfies are driving a spike in accidents that are putting exhibits at risk, according to Linda Sandell, senior vice president and chief underwriting officer with Huntington T. Block, a fine art insurance broker based in Washington D.C. …
Everything is big in Texas, including hailstorms. The National Insurance Crime Bureau (NICB) reported that insurance claims for hail damage in Texas last year exceeded the previous two years combined. Hail damage fluctuates year-to-year, but 2016 was a particularly devastating …
Zurich Insurance is deploying artificial intelligence in deciding personal injury claims after trials cut the processing time from an hour to just seconds, its chairman said. “We recently introduced AI claims handling … and saved 40,000 work hours, while speeding …
State Farm Mutual Automobile Insurance Co., the largest U.S. home and auto insurer, plans to shut 11 U.S. facilities, displacing about 4,200 workers, after a $7 billion annual underwriting loss last year on auto policies. The insurer will exit Parsippany, …
In workers’ compensation, seemingly straightforward injuries may turn into prolonged and costly claims when comorbid conditions exist. These comorbidities can end up complicating treatment, recovery and return to work. Eric Patten, senior director of clinical at One Call Care Management, …
As mobile home ownership rises, the volatility of climate change and more tornadoes increases the risk of massive property damage and deaths in coming decades, according to a new study by Michigan State University researchers. The number of mobile homes …
A new study released by Colorado-based Valen Analytics, an Insurity company and provider of proprietary data, analytics and predictive modeling for P/C insurers, revealed that its workers’ compensation customers reported an average of 25 percent loss ratio improvement, nearly double …
Insurance companies have closed 87 percent of the 18,193 insurance claims filed in Beaufort County in the aftermath of Hurricane Matthew, resulting in a payout of more than $159.3 million. News outlets report that South Carolina Department of Insurance Director …