News

The workers' compensation industry experienced a 5.4 percent growth in total pharmacy spend per injured worker in 2008, according to a study by Tampa, Fla.-based comp insurance services firm PMSI.

While maritime piracy off the coast of Africa has grabbed recent headlines, companies should be aware of increasing kidnapping and ransom risks for personnel traveling to many other areas of the world, an insurer is warning.

Avoca Insurance Holdings in Bermuda announced that Kevin D. Davidson has been hired as chief executive officer of DirectFac Inc., the company's facultative and program underwriting subsidiary.

Competing U.S. and Bermuda insurance interests have been ramping up lobbying efforts on Capitol Hill over a proposed tax code change that would impact treatment of U.S. business ceded to Bermudian carriers.

Despite the economic crisis, insurance buyers can expect flat rates overall into the fourth quarter, according to the latest poll of risk managers.

Moves by Florida lawmakers to provide a federal backstop to the state's severely underfunded Hurricane Catastrophe Fund are running into strong headwinds on Capitol Hill.