NCCI Drill Down Looks at Frequency Trends for Carrier Book Comps

• The National Council on Compensation Insurance (NCCI) latest Industry Drill Down report examines the impact of employment on frequency trends, beginning with the Construction and Manufacturing sectors.
• The reports are designed to help carriers compare their books of business with overall industry trends.
• Looking at three trends — tenure, voluntary quits vs. layoffs, and a tight labor market — NCCI researchers said construction is an example where full-tenured workers are less likely to incur work injuries.
• NCCI plans to publish other sector drill downs, including for Retail Trade, Wholesale Trade, and Transportation and Warehousing.
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CannGen Introduces WC Coverage for Cannabis Sector

• CannGen Insurance Services has started offering workers’ compensation coverage nationwide for the legal cannabis industry through specialty insurance provider Crum & Forster.
• The program offers access to three different writing papers, and it is intended to allow for flexible pricing for different types of risk profiles.
• Roseville, California-based CannGen is a managing general underwriting firm that provides P&C lines of coverage to the cannabis and related markets.
• According to data compiled by Flowhub, there are 440,445 full-time equivalent jobs supported by the U.S. legal cannabis industry.
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Kentucky General Contractors SIF Gets AM Best Upgrade

• Kentucky Associated General Contractors Self Insurers’ Fund has been upgraded by AM Best.
  The Fund provides workers’ compensation coverage to approximately 3,600 construction-related contractor members.
• The agency has upgraded KYAGC’s financial strength rating to A (Excellent) from A- (Excellent) and the long-term issuer credit rating to “a” (Excellent) from “a-” (Excellent). The outlook of these credit ratings has been revised to stable from positive.
• AM Best said the ratings reflect KYAGC’s balance sheet strength, which it assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
• The improved assessment is the result of several factors: strong surplus growth over the past five-year period; decreasing underwriting leverage; maintenance of a solid reinsurance program with a manageable retention; and continued financial flexibility to assess members, something that has never happened.
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