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Superior Court Jury Clears Aon Re in Unicover Collapse

04/07/2009
A Superior Court trial jury in Middlesex County N.J. has cleared Aon Reinsurance and one of its brokers Roger Smith in a six-year-old lawsuit stemming from the 1999 collapse of workers' compensation reinsurance pool manager Unicover Managers. The March 26 verdict follows years of lawsuits in

Category: News

National Trends in Workers' Compensation - 2

11/05/2005
pending approval for depending on the accrediting agency 2 hours of CE units. DON'T JUST READ THIS ARTICLE GET CONTINUING EDUCATION UNITS BY TAKING THE COURSE AT WORKCOMPSCHOOL.COM. Unicover

Category: Industry Insights

Fitch: US Life Exposure to WC Carve-Out Still Huge

10/13/2004
US life insurance companies remain precipitously exposed to the Unicover debacle of the late 1990's which was more responsible for the dramatic increase in workers' compensation rates than any other single event during the last decade according to a new report issued by Fitch Ratings. In a

Category: News

Universal Underwriters Insurance Co. v. Paradis

12/17/2020
The defendants Christopher Lamont and Jorge F. De Los Rios the administrator of the estate of Felix De Los Rios decedent appeal from the judgment of the trial court declaring that a unicover insurance policy issued by the plaintiff the Universal Underwriters Insurance Company does not provide

Category: Cases

Fitch Ratings Pessimistic on Life Exposure to Comp Still

10/21/2004
Why Fitch Expects Further Losses' it answers the questions why Unicover and similar workers' compensation carve out disputes have taken so long to settle and why Fitch believes that over the next 12-18 months these disputes may reach resolution. Unicover Managers Inc. was responsible for the

Category: News

Fitch Affirms Rating of Phoenix; Outlook still Negative

05/27/2004
Unicover Managers Inc. Unicover. While these pools have incurred substantial losses Phoenix's exposure has been mitigated through settlement and favorable arbitration decisions. However Phoenix made extensive use of reinsurance reinsuring to other reinsurers to reduce its gross exposure and

Category: News

National Trends in Workers' Compensation - 3

11/20/2005
By David J. DePaolo The following article is the third in a series on national trends in workers' compensation. Part 1 reviewed the "The Social Contract" and Part 2 discussed the Unicover debacle. This third part reviews deregulation of the market in California.The basis of this

Category: Industry Insights

Fitch: US Life Insurance Still Exposed to Work Comp

10/08/2004
Fitch Ratings' North American Life Insurance group will hold a 45-minute conference call Tuesday Oct. 12 at 300 pm ET200 pm CT to discuss U.S. life insurance's exposure to the workers' compensation line including Unicover. The ongoing exposure of the U.S. life insurer sector to workers

Category: News

N.D. Settles with Universal Underwriters

06/23/2006
reported the refunds stem from overcharges related to Universal's " Unicover" program a loss-control incentive plan that rewards policy holders for controlling losses and implementing loss-control practices. However a recent routine investigation revealed that Universal was not uniformly rewarding

Category: News

National Trends in Workers' Compensation - 1

10/24/2005
negatively but when combined destroyed the underlying fundamentals of workers compensation finance. These four elements were the Unicover scandal pricing deregulation in California the stock market crash and the curiosity of risk loss transfer portfolios and manipulation of stated workers' compensation

Category: Industry Insights

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