Bruce Cochrane Named Chair of Governing Committee, WCRIBMA
Bruce Cochrane has been named Chair of the Governing Committee, Workers’ Compensation Rating & Inspection Bureau of Massachusetts (WCRIBMA) for a one-year term as an insurance carrier representative for Meadowbrook Insurance. This marks Cochrane’s 26th year of service to WCRIBMA. During those years, he is the only person to have served as Chair five times and to hold the Chair for two consecutive terms.
For the first 17 years, Cochrane served as the representative of the Massachusetts Association of Insurance Agents (MAIA) and the next nine years, as an insurance carrier representative for Meadowbrook Insurance.
During his tenure, Cochrane was heavily involved with the passage of the state’s landmark 1991 Workers’ Compensation Reform Act, which served as a model for numerous similar states’ reform legislation across the country. This legislation has been credited for the dramatic turn-around in the Massachusetts workers’ compensation market, transforming from one of the nation’s most crisis-ridden workers’ compensation systems in 1990 to becoming one of the most stable workers’ compensation markets in the country. This stability continues to the present time: Workers’ compensation rates in MA today are 66 percent lower than they were in 1991, an achievement unparalleled by any other economic expense measurement in the country.
In addition to his work with WCRIB, Cochrane has pioneered numerous workers’ compensation innovations in Massachusetts, including the formation and management of successful self-insurance groups (SIG) and captives.
Cochrane is president and founder of Renaissance Alliance, one of the fastest growing insurance organizations in New England.
Renaissance Alliance, headquartered in Wellesley, MA, enables insurance agencies with the market differentiation, tools and time to maximize their sales, profits and equity. Member agencies enjoy unprecedented growth, increased operational efficiencies and higher commission and profit sharing revenues than they could generate as stand-alone agencies, while maintaining complete independence.
WCRIBMA is a private non-profit unincorporated association of insurers that is licensed by the Massachusetts Division of Insurance as a rating organization for workers' compensation insurance in Massachusetts. WCRIBMA has been serving the needs of insurers, regulators, insurance agents and employers in Massachusetts since 1915.