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The executive added that her company had built in a possible rise in loss activity into its estimates, as payrolls move closer to pre-pandemic levels. -
Underwriting income plummeted to $2mn from $18mn last year, hurt by less favorable development and lower earned premiums.
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Workers’ compensation InsurTech Foresight is on track to underwrite more than $50mn in annual gross premiums by the end of 2021, co-founder and CEO David Fontain has told Inside P&C.
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The momentum for establishing workers’ compensation benefits for PTSD has grown, and it could accelerate even faster due to the pandemic, an NCCI report says.
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CEO John Swigart also said that an IPO is in the firm’s long-term future.
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The workers’ comp specialist opened the year with strong results but continued skepticism on the turn.
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“We really haven't observed any material signs of market hardening,” the executive tells analysts.
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The workers’ comp specialist's gross written premiums fell 20% for the fourth straight quarter as the pandemic-induced downturn continues to hit the top line.
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The Coordination of Medicare Payments and Workers’ Compensation Act has been proposed by a bipartisan pairing of senators.
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The cover will be distributed by CRC subsidiary 5Star Specialty Programs.
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The sale of the subsidiary is the latest step in CEO Kevin Rehnberg’s plan to dial down risk and free up capital at the carrier.
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The new unit is led by national product manager Justin Dorman.
