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Another Reduction in Workers’ Compensation Pure Premium Rates for California
Greg Fears August 28, 2018 Posted in: Blog Posts, Workers’ Compensation
Reforms to the California workers’ compensation system implemented over the past few years have led to moderating trends in both claim frequency and claim severity. The upward trend expected in future average wage levels is also serving to lower pure premium rates. Given the relative stability in costs over the past several years, the reduction in the average pure premium rates should contribute to a healthy, vibrant and competitive market.
Significant Reductions in Workers’ Compensation Pure Premium Rates for California
Another big California workers’ compensation rate reduction is coming, effective mid-year 2018. This will be the seventh straight decrease, with the last reduction taken January 1, 2018.

This past week, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) approved and released the pure premium rate filing, effective July 1, 2018. This rate reduction has not yet been approved by the California Department of Insurance, and is open to a public comment period and hearing.

Unique Trucking Issues: The Risks and Rewards of Going in for the Long Haul
Greg Fears May 24, 2016 Posted in: Blog Posts, Commercial Lines
I remember cruising down the interstate as a child in the back of my parents’ station wagon. My brothers and I got such a kick out of being able to name all the different models of cars and trucks. The best part of it was getting the semi-truck drivers to honk their horns when we pumped our fists up and down. Nowadays, driving down the interstate means counting the number of different trucking companies with which I am involved in pricing their insurance and reserving for their losses.
Greg Fears

Commitment to the Actuarial Profession

Pinnacle Supports ISU Minority High School Scholars

Commitment to the Actuarial Profession
Greg Fears August 20, 2015 Posted in: Blog Posts, General, Community Involvement
This year marks the 20th anniversary of the Minority High School Scholars Actuarial Academy (MHSSAA) at Illinois State University (ISU). This program provides minority students from around the country with information and insight into the actuarial profession. Each year only 20 of the estimated 70 applications submitted are selected for the week-long program which includes presentations from actuaries and professors, lab exercises and visits to local insurance companies. This valuable program allows the students to gain perspective of the actuarial profession.
Greg Fears

How Many Non-Captives Will Proposed 831(b) Changes Impact?

Deductible Premium Threshold May Increase

How Many Non-Captives Will Proposed 831(b) Changes Impact?
Greg Fears February 19, 2015 Posted in: Blog Posts, Captives, Insurance / Insurers
There is currently a proposal from the Joint Committee on Taxation (JCX-21-15 and JCX-44-15) that would modify section 831(b) of the tax code to increase the $1.2 million threshold for tax deductible premium contributions to $2.2 million and index this amount for inflation. These changes will benefit both small insurers and the U.S. economy. This will likely make the 831(b) election a more attractive option for small insurer formations and allow for growth in existing 831(b) insurance companies.
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