Monthly Archives: February 2012
Second Injury Funds
At one point in time, it was a standard feature of most workers compensation systems to have a Second Injury Fund (SIF) in place. A typical Second Injury Fund provides coverage for employers when an employee who already has a … Continue reading
Posted in General, National Workers Compensation
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Cell Captives Not Just for the Big Boys Anymore
In the not so distant past insurance captives required a ton of capital and were out of reach for many business owners. The cost required to start a captive, coupled with the overhead and expertise needed to manage it, made … Continue reading
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Retro Plans Help in Hard Market
Can a workers compensation retrospective rating plan be a good tool for larger accounts as the comp market hardens? Many insurance companies and industry professional expect the workers comp market ot begin to harden this year (2012). A hard market … Continue reading
Posted in General, National Workers Compensation
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The Hartford XactPay
The Hartford adapts XactPay program away from QuickBooks with XactPay Express Several years ago The Hartford introduced the XactPay program exlusively for QuickBooks Users. In 2011, The Hartford expanded the program to allow all employers with an Internet connection to … Continue reading
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Pay As You Go Workers Compensation
What is Pay As You Go Workers Compensation and how can it benefit an business? Pay As You Go Workers Compensation is a relatively new way to buy workers compensation coverage. The primary benefits of Pay As You Go include 1. reducing the … Continue reading
Workers Compensation by State
Workers Compensation Shop.com launches new state work comp directory. Each state directoy includes links to state specific comp information including state rates, forms, rules, laws, resources, and quotes. Workers Compensation Shop is a national insurance agency licensed in all states. They specialize … Continue reading
Posted in State Workers Compensation
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Retail Insurance vs Wholesale Insurance
In today’s world, it is getting hard to tell the difference between a retail insurance agency and a wholesale insurance agency. More and more states are dropping any distinction between a broker and an agent. So what’s the difference anyway? … Continue reading
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What is a Ghost Policy?
Ever heard the term ghost policy with regard to workers compensation insurance? Ever wonder exactly what it is? A Ghost Policy is the term used to describe a type of work comp policy issued to individual business owners that really … Continue reading
NCCI Quoting States
I was recently discussing all of the NCCI states around the country and an agent asked me how many states our firm could quote with NCCI. I honestly didn’t know exactly how many states NCCI provided residual market access for, so I looked … Continue reading
PA Workers Compensation Rates Reduce for 2012
The PA Compensation Rating Bureau has approved a 5.7% rate reduction for the average workers compensation premium rate in Pennsylvania for 2012. Some class code rates may increase or decrease depending on state loss ratios, but the overall affect should equal nearly … Continue reading
Posted in PA, State Workers Compensation
Tagged PA, PA workers compensation rates, Pennsylvania
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