Published Since 1865 Boston, Mass. March 5, 2010 Vol. 266 No. 9

Mass. Workers’ Comp Bureau
Requests 4% Average Rate Increase

AG Coakley Promises to Intervene in Case, Citing Economic Strain on Businesses

BOSTON — The Workers’ Compensation Rating and Inspection Bureau of Massachusetts (WCRB) this week proposed an average rate increase of 4.5% for workers’ compensation insurance.

If the filing were approved by the Massachusetts Division of Insurance, it would take effect for new and renewal policies on and after Sept. 1.

“The ongoing workplace safety efforts by insurers, em-
ployers, workers and regulators have helped drive down
the frequency of injuries in Massachusetts,” said WCRB
President Paul Meagher. “However, claim severity has
continued to trend higher due primarily to the persistent
increase in medical and pharmaceutical costs.”
The WCRB files rates on behalf of the over 300 insurers
writing workers’ compensation insurance in the Bay State.
All employers are required to carry workers’ compensation
insurance to protect their workers if they are injured on
the job.

continued on page 18

If approved, the WCRB’s 4.5% proposed increase would be the first rate hike since 2001, when the Division autho-

Conn. has hard Financial

In This Issue

Vermont Comp Costs Cut Approved 5

Times Ahead, Says Sullivan
PIACT Pres. Praises Relationships

5

Conn. Fines Zurich $235,000

5

MASHANTUCKET, CONN. — The insurance industry should expect tough times ahead, according to Connecticut Insurance Commissioner Thomas R. Sullivan, speaking at the annual Professional Insurance Agents of Connecticut (PIACT) convention this week.

Mass. AG Settles More Cycle Cases 7

Flood Program Lapsed as of Feb. 28 8

Court explores Comp-UIM Interplay 9

Federal financial reform bills are still a “sausage factory,” he commented – in the sense that no one wants to watch sausage or laws being made. Sullivan said he can only speculate on whether the insurance industry will be included in tighter regulatory controls, or the type of oversight that might be adopted.

Standard Answers: Coverage for Bloggers

10

Questions for the Library Keep Coming

11

State of the Market Appraised

12

continued on page 22

IIABA Critiques Crop Ins. Reform 15

AIA, Geneva Report Discuss Risk

16

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Classifieds

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Calendar of events

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Sidelights

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