Tuesday, April 10, 2012

WCIRB: Workers Comp Rates Rising 40%

Workers Comp rates will rise an average of 40% over the next year.  This is includes PEOs, or Preferred Employer Organizations, that lease your employees back to you.

How to beat this?

ExMod:  The Rating Bureau calculates a Experience Modification for your business.  Keep this low, by instituting safety programs, get-back-to-work programs, and anything else to mitigate the chances of a claim.  If an employee gets hurt, don't hide and hope it goes away.  Get active and involved, show the employee that you care enough to get them back on the job, because you value them.

Shopping:  If you're broker is not shopping you on a regular basis, you're losing out.  Period.

Subcontracting:  A last resort, but what can you place out?

Give me a call if you need to discuss.

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