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North Bay Business Journal

Wednesday, July 4, 2012, 7:00 am

Share your thoughts: Workers’ comp insurance rates climb

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    How much are your company's workers' compensation insurance rates set to rise this year?

    • Up to 10% (4%, 2 votes)
    • 11%-20% (47%, 22 votes)
    • 21%-30% (26%, 12 votes)
    • More than 30% (4%, 2 votes)
    • No change (2%, 1 votes)
    • Don't know (17%, 8 votes)

    Total voters: 47
    Polling period: July 4, 2012 @ 5:00 am – July 10, 2012 @ 11:59 pm

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    This NBBJ Pulse Poll runs through July 10. View all polls.

    Share your thoughts in the comments section below.

    Workers’ compensation insurance rates are continuing to climb sharply in the North Bay this year, a trend that the region’s brokers attribute to the rising health care costs and increasing medical utilization that have helped inspire a third round of recommended rate increases by California’s insurance commissioner.

    Carriers are free to set their own rates, and the bureau’s rates are merely advisory. Yet as combined recommendations have surpassed a 40 percent increase this year, experts have said that some providers are now offering rates that are sometimes double those in 2011.

    Most employers can expect premium increases to the tune of 8 percent to 20 percent.

    Read more about rapidly rising workers’ comp rates in the Business Insurance report to be published in the July 9 issue of the Business Journal.

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    Comments

    2 Comments

    1. July 5, 2012, 2:04 pm

      by Robert Wallace

      The contractors I have interviewed including my son have had as much as 400% inceases. This being based on credit history, divorce, etc. Many cannot afford this and are doing without a bond and operating on suspended licenses. —R Wallace, Investigator, CSLB


    2. July 5, 2012, 4:58 pm

      by Q.A.Kruse

      Organizations that are comitted to safety and that have an ongoing and vigorous safety program will not have very many safety related incidents … therefore, their premiums will not increase at the same rate as those see safety as an after-thought.


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