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Workers Compensation Insurance News

21 May 2013

Managing Jones Act Personal Injury Litigation

Even the safest, most careful marine operator will, at some point in time, have an accident aboard one of their vessels. And, despite the best of intentions, sometimes employees gets hurt. Once an employee is injured, the likelihood of employee filing a lawsuit because of it, especially on Jones Act tonnage, becomes a real possibility. The effective management and outcome of such a case lies in preparing for litigation. An understanding of how personal injury litigation under the Jones Act works will help you position your company for a positive outcome – or in other words…

19 Mar 2013

Risk Management

The old expression about getting one’s sea legs speaks to how different life can be in the ocean marine environment. Those who spend most of their time on land often need to adjust to the rhythms that are second nature to old sea hands. Similarly, any company that operates both on land and water needs to adjust its risk management strategies to account for exposures in both arenas. That can range from something as simple as making sure land-based workers have the right protective equipment when they move to the waterfront, to something as complex as coordinating insurance coverage to minimize the possibility of gaps or unexpected liabilities.

07 Nov 2011

Braving the Human Element in Safety

The maritime industry is notorious for braving the elements. One element however — the human one — poses greater safety risk than rough seas or gale-force winds and is requiring more companies to take an aggressive approach in emphasizing every employee’s role in their risk management efforts. While maritime companies have developed technologically sophisticated hull designs, stability systems, propulsion systems, and navigational equipment, overall the industry’s safety record could be better. It is undoubtedly one of the world’s most risky and complex industries. And as such, it requires very attentive focus on safety and risk management issues, especially in light of the economic and workforce issues facing the industry today.

28 Jan 2011

Great Lakes Shipyard Receives Safety Award

Great Lakes Shipyard, Cleveland, Ohio, has received the 2009 – 2010 Industry Leader Safety Award from the Signal Mutual Indemnity Association. This is the second time in recent years that the Great Lakes Shipyard was chosen to receive this award because of their outstanding safety performance with no “lost time” accidents. The shipyard’s commitment to safety is not new. The previous outstanding safety award was presented in 2004 - 2005. The company attributes its successful performance over the years to its extensive internal safety policies and training programs. Signal is the largest provider of Longshore and Harbor workers compensation insurance benefits in the United States.

03 May 2009

Amerisafe 1Q 2009 Results

Amerisafe, Inc. (NASDAQ: AMSF), a provider of high hazard workers' compensation insurance, announced results for the first quarter ended March 31, 2009. Net income in the first quarter of 2009 was $11.1 million compared to $11.9 million in the first quarter of 2008, a decrease of 7.2%. Pre-tax income for the first quarter of 2009 included $1.2 million of favorable prior year loss development. Pre-tax income for the first quarter of 2008 included $1.7 million of favorable prior year development. Return on average equity for the first quarter of 2009 was 15.7% compared to 20% for the first quarter of 2008. Gross premiums written in the first quarter of 2009 were $79.4 million, a decrease of 1.9%, compared to $81 million in the first quarter of 2008.