In the latest of a series of RICO lawsuits, Roosevelt Road Re, Tradesman Program Managers and Ionian Re have sued Liakas Law and dozens of others over an alleged fraud scheme involving construction workers staging construction accidents and collecting workers’ compensation benefits.
Workers' compensation
AM Best has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the long-Term issuer credit ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent) of Reno, Nevada-based Employers Preferred Insurance Company and its affiliates, collectively referred to as Employers Insurance Group (Employers).
Louisiana-based workers' compensation carrier LWCC has acquired AM Best "A" rated sector rival Prescient National.
Tangram Insurance Services has brought a new security guard industry-focused program to market that will provide specialty liability and workers’ compensation coverage backed by capacity from Accelerant and Service Insurance Companies.
AM Best has upgraded Texas Mutual Insurance Company’s financial strength rating to A+ (Superior) from A (Excellent) and its long-term issuer credit rating to “aa-” (Superior) from “a+” (Excellent), with a revised outlook from positive to stable.
San Francisco-based insurtech company Stream has raised a $5.3mn seed round led by Spark Capital, with participation from Acrew Capital and TTV Capital.
US workers’ compensation state funds grew direct premiums for a third straight year in 2023, reaching $6.9bn compared to $6.8bn in 2022, according to a report from AM Best.
Michelle Glass, senior underwriter of North America casualty and workers’ compensation strategy lead, discusses key factors behind sustained profitability in workers' compensation, emerging challenges and how Axis Re is navigating this evolving landscape.
Enstar Group has completed its previously announced loss portfolio transfer transaction with SiriusPoint that sees a subsidiary of the legacy specialist reinsure a $400mn portfolio of workers’ compensation business covering the 2018 to 2023 underwriting years.
Workers’ compensation insurtech MGA EverPeak Insurance has continued to broaden its footprint with a move into Tennessee.
