As employers have found in the last few years, hiring has become more difficult as the labor market has tightened amid a strong economy. With slim pickings, many firms are having to settle for workers they may not normally hire – but that can lead to issues. Some employers even have a hard time finding […]
Despite the state’s rating agency asking for a 2.6% increase in workers’ compensation rates due to costs related to the coronavirus pandemic, California’s insurance commissioner has instead ordered that benchmark rates be cut 4.6%. Besides the rate increase, the Workers’ Compensation Insurance Rating Bureau had recommended that all policies be subject to a COVID-19 surcharge […]
One outgrowth of a new California law that applies more stringent criteria for what constitutes an independent contractor is that many employers are likely to see more audits and calls for additional premium from their workers’ comp insurers. In fact, it’s already happening in some industries, according to the insurance industry trade press. More and […]
Workers’ compensation insurance rates will likely continue sliding in 2020 after California’s rating agency submitted its recommendation that the state insurance commissioner reduce the average benchmark rates by 5.4%. If the recommendation is approved, it will be the ninth consecutive rate decrease since 2015 (some years had two decreases), which have resulted in the average […]
Workplace injury rates rise during the summer months. When summer rolls around, companies in many sectors, including agriculture and construction, significantly increase production. Increased road construction raises risks for workers and drivers. Many of the newly hired workers are young and inexperienced, creating a high potential for workplace injuries. Toiling in the sun is also […]
No company owner wants to undergo a workers’ compensation audit, but they are a fact of life if you run a business and have employees. Unfortunately, many audits don’t go smoothly and sometimes your insurer may make mistakes. Missouri-based Workers’ Compensation Consultants, which helps employers through the workers’ comp audit process, recently listed the 10 […]
Sometimes, injured employees are afraid to file a workers’ comp claim after being injured at work because they fear the specter of retaliation by their employer. Experts suspect that up to 10% of workplace injuries are never reported because the workers choose to have the injuries covered by their employer-sponsored health plans. Most employers may […]
A new method for calculating workers’ compensation experience modifications (X-Mods) took effect in California on Jan. 1. The Workers’ Compensation Insurance Rating Bureau of California has created a new simplified formula for calculating X-Mods as part of its efforts to add more transparency to the process. The new formula excludes the first $250 of every […]
Most goods in the U.S. are delivered by truck. Trucking companies, businesses that deliver their own product and their customers rely on well-functioning vehicles and drivers for the success of their operations. Too often, though, driving a truck is not conducive to good health. That can spell trouble for the drivers and for the profitability […]