Mass. Workers Comp. Residual Market Update
The Worker’s Compensation Rating and Inspection Bureau of Massachusetts (WCRIB-MA) recently issued its bi-monthly Special Bulletin No. 09-17 which provides indications of the “…directional movement of the ‘Residual Market Share’ in Massachusetts.
In the latest bulletin, the Rating Bureau estimates the residual market share as 18.9% for the preceding 12 months ending on June 30, 2017.
The Standard Moves To a Bi-Weekly Publishing Schedule
The Standard has announced it has moved to a bi-weekly publishing schedule as of September 2017.
The venerable insurance weekly has been continuously reporting on the New England Insurance industry since its inception in 1865. In addition, to the now bi-weekly publication, the Standard Publishing Company also is the publisher of the John Liner Letter, The CSR Advisor, Risk Management Insurance Audit Techniques, Workers Compensation Outlook, and Workers Compensation: Exposure, Coverage, Claims.
Brady Risk Opens A New Office In New England
New York’s Brady Risk Management has announced this month that it is openeing a new MGA in New England. Based in Portland, Maine, the Brady Risk New England Property/Casualty Managing General Insurance Agency will serve retail insurance agencies throughout the NE region including Massachusetts, New Hampshire, Vermont in addition to Maine.
In explaining the company’s decision to open a new office in the area, the company stated the following, “We continue to believe, and support, the Independent Agency system as evidenced by our commitment to providing specialized products, superior claims management expertise, advanced technology together with underwriting expertise on behalf of several insurance carriers to our preferred agency distribution platform.”
The company, which has operated for over 25 years in the New York area says initial product offerings for its NE office will include “… include workman’s compensation, loss forecasting, claims management, underwriting and marketing services on behalf of Carriers either not previously represented in certain New England States or who’s market share has been understated.”