Florida, Wisconsin Are Outliers in WCRI’s Latest Medical Price Growth Gauge
- The 2025 edition of the WCRI Medical Price Index for Workers’ Compensation found that while prices for professional services varied significantly across the 36 states measured, Florida was 33% below the index’s 2024 median while Wisconsin was a whopping 172% above that threshold.
- The report’s analysis of the impact of fee schedules found that states with no fee schedules had prices 35-177% higher than states with fee schedules in 2024.
- As well, most of the states without fee schedules clocked faster growth in prices for professional services in the 12 years to 2024, with a median growth rate of 40%, compared with 15% in states with fee schedules.
- WCRI said that unlike other measurements of prices of all medical professional services provided to the general population, this index is a more relevant benchmark of medical inflation in workers’ compensation as it focuses on those services commonly provided to workers with injuries.
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Relation Insurance Services Continues Acquisition Expansion
- Chicago-based Relation Insurance Services has acquired the assets of California’s Engle and Associates Insurance Brokers.
- The 45-year-old San Luis Obispo firm’s business lines include workers’ compensation and specialty insurance.
- No financial details were disclosed.
- Relation is backed by private equity firm Aquiline Capital Partners.
- Larger brokers, often backed by private equity, are actively acquiring smaller firms to expand their market presence, diversify service offerings, and achieve economies of scale. This “roll-up” strategy is a common PE playbook, according to S&P Global.
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Energy Producers Reap $2M in Texas Mutual Dividends
- The Texas Oil & Gas Association’s Workers’ Compensation Safety Group said Tuesday that member companies collectively earned $2.28 million in safety group dividends from Texas Mutual Insurance Company for prioritizing workplace safety and keeping the group’s loss ratio low.
- Texas Mutual said earlier this month that it expects to distribute $330 million in general dividends to qualifying policyholders.
- Some TXOGA members may earn both Safety Group and general dividends from Texas Mutual.
- Since 2001, members of the group have received $48.8 million in Safety Group dividends and $385.2 million in general policyholder dividends.
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