While California’s Insurance industry waits for the results of recent reforms to workers compensation, employers in the state will most likely still see increases in their Workers Compensation premiums in 2013.
While Senate Bill 863 was signed into law last year attempting to lessen rate increases with a number of changes including how benefits are calculated for injured employees, we are still seeing some double-digit increases. Those who have experienced these increases unfortunately may not see any relief until the second half of the year.
California Workers Compensation has been incredibly under priced and the market has been hardening. This trend will most likely continue. Even for employers with little or no claims, premiums are increasing by approximately 8%.
If you feel you are paying too much for your California Workers Compensation coverage, let us shop the marketplace for you. We have several preferred markets we can obtain quotes from, including:
• Employers Insurance Company
• Travelers Insurance Company
• Amtrust Insurance Company
• Everest National Insurance Company
For a no obligation analysis of your workers compensation coverage, please contact either our Carlsbad insurance office at 760-795-2002, our Temecula insurance office at 951-296-6833. Additional information is always available on our website at www.hwpinsurance.com