INSURANCE BRIEFS

INSURANCE BRIEFS

GEORGIA WON'T INCREASE

WORKERS COMP RATES

ATLANTA - Georgia Insurance Commissioner Tim Ryles has rejected a workers compensation rate increase for the second consecutive year.

Mr. Ryles said Wednesday that the National Council on compensation Insurance failed to justify its request because it did not use current claim information, and used incorrect profit provisions by relying on excessive medical-loss ratio trends and by inflating estimated future expenses.

The NCCI, which represents 300 of the state's insurers, sought a 47.7 percent rate increase for the assigned risk market, which includes policies covering high-risk jobs, and a 25.1 percent increase for lower-risk voluntary market.

An NCCI official said the insurance industry badly needs the rate increases.

"The Georgia Workers' Compensation Assigned Risk Plan suffered an operating loss of over $102 million in 1992 and is in desperate need of additional funding," said Ken Kennamer, the council's director of government, consumer and industry affairs.

IDAHO COMP RATES

INCREASE BY 0.2 PERCENT

BOISE, Idaho - An aggressive effort to contain costs and the state's solid economy have helped hold the increase in workers compensation insurance rates to 0.2 percent, Gov. Cecil Andrus said Wednesday.

The 0.2 percent increase in workers compensation rates was requested by the National Council on Compensation Insurance, Boca Raton, Fla., which oversees Idaho's programs. It was approved by Harry Walrath, state insurance director.

The state Insurance Fund covers about three-quarters of the employers in Idaho.

A&A OFFERS CONSULTING

ON PRIVATIZATION

NEW YORK - Alexander & Alexander Services Inc. has formed a privatization consulting group to assist governments, state-owned enterprises and other third parties involved in the privatization of companies by foreign governments.

The group, based in the brokerage firm's New York office, will be managed by Leonard J. Battifarano. It will help with all aspects of the process including risk assessment, valuation of assets and management training.