Commercial insurance rates up 5% in June: MarketScout
Commercial P&C rates were up an average of 5% for policies that renewed in June, according to MarketSout. Commercial Auto and Work Comp had the highest increases at 6%, with…
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Workers Compensation
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Workers’ compensation is insurance that provides cash benefits and/or medical care for workers who are injured or become ill as a direct result of their job.
Employers pay for this insurance, and shall not require the employee to contribute to the cost of compensation. Weekly cash benefits and medical care are paid by the employer’s insurance carrier, as directed by the Workers’ Compensation Board. The Workers’ Compensation Board is a state agency that processes the claims. If Board intervention is necessary, it will determine whether that insurer will reimburse for cash benefits and/or medical care, and the amounts payable.
Missouri Governor Signs Bill Replenishing Disabled Workers Fund
The new law allows the business surcharge to rise to 6 percent starting in 2014 and continuing through 2021. It also limits the fund’s future coverage to only the most…
Combatting Rising Prescription Drug Costs In Workers’ Comp | PropertyCasualty360
While the overall share of prescription drugs as a percentage of medical costs in workers’ comp has stayed steady at around 18 percent, the drugs that are being prescribed and…
NYCIRB Proposes 16.9% Rate Increase for 2013
The NYCIRB proposed a 16.9% rate increase which, if approved, would be effective October 1, 2013. The rate filing awaits approval by NY Dept. of Financial Services: Rising indemnity, severity…
Continuing to Implement the ACA in a Careful, Thoughtful Manner
Obama Administration announces (via blog post) the delay in implementation of the employer mandate in the Affordable Care Act (ACA). All social media sites buzzing about this today… Have a…
NOAA Predicts ‘Extremely Active’ Hurricane Season
For the six-month season, National Oceanic and Atmospheric Administration projects a 70% likelihood of 13 to 20 named storms, including seven to 11 hurricanes (winds of 74 mph or higher) and three…
Recently Signed Bill Solidifies PEO’s ability to Write Carve-Outs in TX
Great news for PEOs with clients in Texas, Gov. Perry recently signed Senate Bill 1286 into law allowing, among other things, for PEO client companies in TX to elect work…
Download Latest NCCI Report Validating PEO Model: The Story Behind PEO
Click the following link to download NCCI’s latest report validating the PEO model: The Story Behind PEO