California’s excess workers’ comp insurance industry grew by more than 10% last year as written premium climbed past $240 million, according to the latest reports from the California Department of Insurance. The expansion follows a 6% increase in 2014 and experts say the continued growth is being driven primarily by payroll expansion on both the …
California’s excess workers’ comp market grew 6.5% last year to top $216 million in written premium (see chart right). It’s an increase that insiders say is driven primarily by expanding payrolls rather than increasing premium rates. The number of carriers actively writing in the excess market also increased to 18. State Compensation Insurance Fund, which is …
California’s public entities and private employers that self-insure for workers compensation purposes, either individually or through self-insured groups (SIGs), experienced increased premium costs for excess workers’ comp insurance coverage last year. The rebound in 2013’s written premium totals, which are up approximately 11% to over $200 million, follows several years of declining premium totals and a …
Carriers wrote less excess workers’ comp premium for California self-insured employers, self-insured groups (SIGs) and public entities last year, according to the latest data from the California Department of Insurance. Overall, the excess workers’ comp insurance market generated just over $183 million in written premium last year, which is down from nearly $190 million in …
American International Group (NYSE: AIG) gave an official confirmation earlier this year that the carrier was curtailing its writing in the excess workers’ comp market and new numbers from official reports prove it means business. The carrier trimmed its California writings for excess workers’ comp coverage in 2011 by one-third to $19.8 million in total, …
Officials at American International Group (NYSE: AIG) now publicly acknowledge what many in the industry have observed for some time – that the carrier’s Chartis unit is pulling back from the excess workers’ comp insurance market. AIG announced as part of its annual report to the Securities and Exchange Commission (SEC) that it made the …