Archive for the ‘Uncategorized’ Category

The Most Important Time for July 1st Renewals for Workers Compensation Is Now

November 10, 2014 Research done by Apex Services (, a leading company in workers compensation premium recovery, has shown that a large percentage of employers renew their workers compensation policy on July 1st. Brokers who have accounts who have July 1st renewals may not be thinking about these accounts yet, as they don't renew for […]

Workers Compensation Loss Cost Increase Disapproved by NYDFS

  July 17, 2014 The request to increase the loss cost level by 6.8% filed by The New York Compensation Insurance Rating Board (NYCIRB) effective October 1st has been disapproved by the New York Department of Financial Services (DFS). Consequently, the current loss costs and rating values will remain in effect. As experts in workers […]

Victory for Brokers: Certificate of Insurance Bill Passes

June 23, 2014 IIABNY New York legislators have passed a bill that will put an end to abusive certificates of insurance requests from businesses and government agencies.  The passage of this bill marks a significant victory for The Independent Insurance Agents & Brokers of New York (IIABNY), which managed to pass through its top legislative […]

The Time to Secure Workers Comp January Renewals is Now

May 7, 2014 The most popular date for workers compensation policy renewals is January 1st. Chances are, you have a couple of pretty important clients in your book of business who will renew on January 1st. Therefore, the next few weeks will be absolutely crucial in determining whether or not you will keep them as […]

Workers Comp Rates Approved for 3.6% Increase in New Jersey

November 27, 2013 Workers compensation and employers liability rates have been approved for a 3.6% increase in New Jersey effective January 1st. Classifications are limited to a maximum 15% increase over the current year’s rate. Minimum premium will also increase from $850 to $900 and New Jersey employers will have to pay a 6.56% surcharge […]

NY Comp Lower Assessments Offset by Loss Cost Increase, NYSIF Taking Biggest Hit

With the closing of the reopened case fund, the estimated cost for carriers is $1.6 billion in unfunded liability. Consequently, the New York's State Department of Financial Services approved a workers comp loss cost rate increase of 9.5% to become effective Oct. 1. 2013. Nearly 5% of the approved loss cost increase is due to […]

Workers Compensation Rates Could Rise Again in Florida

August 16, 2013 Wink News Insurance companies are seeking a one percent increase in workers compensation rates in Florida. If granted it would mark the fourth straight year of rate hikes. Employers purchase workers compensation insurance to cover on-the-job injuries. The state Office of Insurance Regulation announced Friday it had received a proposal from the […]