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23 Results

Rumor: Reliance Liquidation Near Settlement?

10/01/2004
matter pushing for settlement. Reliance started showing signs of financial cracks in 2000 succumbing to an insurance hard market participation in the ill-fated Unicover scandal and continued profligate spending by Saul Steinberg his sons and management team the DOI says using company money on

Category: News

Re: QME Panel from WCAB? (California) (California)

09/23/2011
administration that vilified injured workers at the expense of the system even though the math behind the 2004 reforms never added up And no one went chasing after the 400 BILLION that the Unicover Partners reinsurance fraud stole and moved off shore between 1993 and 2001 interesting timing between 400

Category: Forums

Alternatives to Workers' Comp and Long-Term Issues

05/16/2012
longer function. Self insureds likewise make payments into guarantee systems to protect injured workers over the long term.This backstop was beautifully played out in the late 1990s when so many insurance companies fell victim to the intoxication of Unicover brew and laid so many claims into

Category: Industry Insights

Fitch Ratings Says WC Cycle Peaked, Prices Going Down

08/17/2004
overall low premium pricing throughout the early and mid 1990's was the result of heightened commercial lines market competition and overly generous reinsurance market underwriting and pricing. Though not specifically identified Fitch intimates the huge Unicover reinsurance fiasco where reinsurance

Category: News

Reliance Liquidator Seeks Court Approval for Commutation Settlements with Reinsurer

12/04/2014
. The company was hit hard by a tough insurance market and the Unicover reinsurance scandal. The Property Casualty Insurance Association of America opines that its collapse was caused by mismanagement of its risks and the underpricing of policies although Pennsylvania regulators also levied

Category: News

Work Comp Fraud; Stop the Hypocrisy

11/18/2006
system on clever reinsurance chicanery see our various stories and articles on Unicover so they can make a half-billion dollars in fees Why isn't the Employer's Fraud Task Force and other self-appointed overseers of malicious intent and do-gooders directing their energies towards

Category: Industry Insights

National Trends in Workers' Compensation - 6

12/31/2005
The following article is the sixth and final article in a series on national trends in workers' compensation. Part 1 reviewed the "The Social Contract" Part 2 discussed the Unicover debacle part 3 reviewed deregulation of the market in California the fourth part of the series looked at the stock

Category: Industry Insights

Disaster Means Deepwater Trouble for WC Carriers

06/09/2010
The most immediate impact on reinsurance premiums is for oil operations obviously. But ultimately the grand scheme of spreading the risk hits all P&C lines and workers’ compensation which has seen its share of reinsurance supply and demand problems in the past following the Unicover

Category: Industry Insights

Deepwater Horizon is a Work Comp Disaster (All States)

06/07/2010
the risk hits all P&C lines and workers compensation which has seen its share of reinsurance supply and demand problems in the past following the Unicover debacle is not immune. Workers compensation known as a long tail line generally provides for medical attention through the life of the

Category: Forums

National Trends in Workers' Compensation - 5

12/17/2005
The following article is the fifth in a series on national trends in workers' compensation. Part 1 reviewed the "The Social Contract" Part 2 discussed the Unicover debacle part three reviewed deregulation of the market in California and the fourth part of the series looked at the stock market and

Category: Industry Insights

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