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On February 14, 2023, CompSource Mutual Insurance Company filed a notice of data breach with the Texas Attorney General’s Office after determining that an unauthorized party accessed...
Oklahoma Bill Would Create Workers’ Comp Assigned Risk Plan April 21, 2021 A bill working its way through the Oklahoma Legislature would allow for the creation of an assigned risk plan providing workers’ compensation insurance. Senate Bill 524 would also repeal the CompSource Mutual Insurance Company Act; CompSource Mutual is currently the state’s workers’ comp market of last resort. The insurance commissioner would be directed to develop the plan and would determine the rates to be charged, which can’t be excessive, inadequate or unfairly discrim...
Oklahoma’s CompSource Mutual Insurance Assigned ‘A’ Rating by AM Best December 11, 2020 The outlook assigned to these ratings is stable. The ratings reflect the monoline workers’ compensation insurer’s balance sheet strength, which AM Best categorizes as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. CompSource Mutual’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is categorized as strongest. The balance sheet strength assessme...