Thursday, June 10, 2010
Property/Casualty Market Update
Workers comp rates are still at or near 10 year lows but after years of soft market, we are now seeing flat to slight increases in premiums on property and commercial general liability policies. Incumbent P&C insurer will usually keep any increase small, but that depends on claims activity.
Monday, May 17, 2010
Current Insights & Best Practices - California Workers Comp
California Workers Comp
Market Updates - As of 2010 markets have firmed up after 5-6 years of dropping rates. Businesses with best safety practices can still take advantage of good claims records, but employers with frequency or severity of worker injuries will see increased rates this year.
Apply for Coverage
Safety - Pro Active Worker Safety Measures, even for low hazard jobs to prevent carpal tunnel for instance, remains the only way to control long term costs. Mandatory safety plans often lack accountability, a two way system for communicating about hazards, and/or thorough safety orientation.
Outside the Box - Bundled employer services, for example merely pairing workers comp with payroll services, can save businesses money. The best professional employer organizations (PEOs) provide and support all human resource functions.
Market Updates - As of 2010 markets have firmed up after 5-6 years of dropping rates. Businesses with best safety practices can still take advantage of good claims records, but employers with frequency or severity of worker injuries will see increased rates this year.
Apply for Coverage
Safety - Pro Active Worker Safety Measures, even for low hazard jobs to prevent carpal tunnel for instance, remains the only way to control long term costs. Mandatory safety plans often lack accountability, a two way system for communicating about hazards, and/or thorough safety orientation.
Outside the Box - Bundled employer services, for example merely pairing workers comp with payroll services, can save businesses money. The best professional employer organizations (PEOs) provide and support all human resource functions.
Current Insights & Best Practices - California Group Benefits
California Group Benefits
Market Update - Rates are skyrocketing with all clients experiencing large premium increases, most recently 20% + for 2010 renewals. Most groups have increased deductibles on their coverage.
United States Health Reform - The U.S. Department of Health & Human Services has issued new guidelines to interpret the Patient Protection and Affordable Care Act put into law by the President on March 23, 2010.
Health Savings Accounts & Health Reimbursement Accounts - Employer groups have been moving in large numbers to these plans for the last 3-4 years, with increasing deductibles. Health Savings Accounts (HSAs) allow employers and employees to contribute pre-tax towards their individual or family deductible, and if the contributions are not used they remain the property of the employee. Health Reimbursement Accounts (HRAs) allow employers to fund only actual employee deductible expenses, with no contributions directly to employees.
Kaiser - Rated very high in quality of care, a network of captive doctors, and low price.
Non-Kaiser - Many overlapping networks of doctors are available, with varying quality of care, and contracted networks including both medical practice groups and individual doctors. United Healthcare, Blue Shield, HealthNet and Blue Cross are among the largest and lowest priced non-Kaiser networks.
Market Update - Rates are skyrocketing with all clients experiencing large premium increases, most recently 20% + for 2010 renewals. Most groups have increased deductibles on their coverage.
United States Health Reform - The U.S. Department of Health & Human Services has issued new guidelines to interpret the Patient Protection and Affordable Care Act put into law by the President on March 23, 2010.
Health Savings Accounts & Health Reimbursement Accounts - Employer groups have been moving in large numbers to these plans for the last 3-4 years, with increasing deductibles. Health Savings Accounts (HSAs) allow employers and employees to contribute pre-tax towards their individual or family deductible, and if the contributions are not used they remain the property of the employee. Health Reimbursement Accounts (HRAs) allow employers to fund only actual employee deductible expenses, with no contributions directly to employees.
Kaiser - Rated very high in quality of care, a network of captive doctors, and low price.
Non-Kaiser - Many overlapping networks of doctors are available, with varying quality of care, and contracted networks including both medical practice groups and individual doctors. United Healthcare, Blue Shield, HealthNet and Blue Cross are among the largest and lowest priced non-Kaiser networks.
Current Insights & Best Practices - Other
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