Workers' Comp

Workers compensation fraud has been a particularly troublesome area for the industry, costing insurers and employers about $6 billion a year, according to the Coalition Against Insurance Fraud.

Early signs for this years workers compensation market show that it is struggling against some significant headwinds. Two forces, in particular, continue to buffet the industry: A troubled job market and regulatory uncertainty.

Dental claims appear in workers' compensation cases more often than one might think.

Liberty Mutual Group has filed court papers to oppose a proposed $450 million settlement American International Group Inc. made with seven companies to end a pending class-action federal civil lawsuit over alleged underreporting of workers’ compensation premiums.

Financial impairments at 11 property and casualty insurance companies were severe enough to trigger regulatory action last year, but none of the problems were the direct result of catastrophe losses, A.M. Best reports.

One issue of concern to both agents and customers is the future of the National Flood Insurance Program (NFIP)—still a subject of debate in Congress.

On the final day of the conference, agents met to hear a panel discussion with three insurance-industry CEOs and the president of the Insurance Information Institute on the state of the industry.

If Republicans were in search of a friendly venue for their message of spending cuts and regulation reduction, they found a warm embrace a few short blocks from Capitol Hill at the recent meeting of the Independent Insurance Agents & Brokers of America in Washington D.C.