Workers comp costs

[Mandelon]

My costs are coming way down....my premiums have dropped nearly 40%
I like it. :cool: :cool:

[OGShocker]

My costs are coming way down....my premiums have dropped nearly 40%
I like it. :cool: :cool:
Mine dropped by 30%. Fockin' Arnie! :p

[INSman]

We have thankfully taken (4) consecutive rate decreases, starting on 7/1/04, 1/1/05, 7/1/05 and 1/1/06.
This is great, but this doesn't mean your broker is doing a great job or a poor job when rates turn back around and start heading north again, which they will.
Keep an eye on your Experience Modification and make sure the broker is doing the same. This is the one thing that you can help to control, whereas rates you CANNOT. :cool:

[Stingray69]

Who is the company?

[Ziggy]

Mine dropped $1500 a month.........hope it stays that way or better....got good exp# anyhow so its going in the direction it shouldv'e always been.

[OutCole'd]

Mine has dropped over 25% in the last two years. :rollside:

[YeLLowBoaT]

Who is the company?
What he said.... my rate for my 1 "part time" employee( less then 30 hrs a week) is just nasty....

[ROZ]

Mine has dropped over 25% in the last two years. :rollside:
he's talking about workman's comp rates and not your pants you HOMO!

[OutCole'd]

he's talking about workman's comp rates and not your pants you HOMO!
Sorry, I always get the two confused. :cry:

[ROZ]

Sorry, I always get the two confused. :cry:
come to think of it, one doesn't happen without the other when it comes to insurance:D

[Scream]

We've saved a crap load lately because of a couple facts; Rates are coming down due to legislation and the market opening up a bit, and our Xmod was at 106% (OUCH) and dropped back down to about 80.
Now if they could deal with the incredible fraud rate we'd have it licked...
Scream

[jbtrailerjim]

We are going to see almost a 50% decrease this year. Of course our mod rate dropping from around 150% down too 106% has definitely helped. :jawdrop:

[Kilrtoy]

So how is exactly is this dropping.....
Are the workers suffering beause of it?

[HM]

So how is exactly is this dropping.....
Are the workers suffering beause of it?
Only the union workers. :D

[Kilrtoy]

Only the union workers. :D
And the TRULY INJURIED

[Havasu Cig]

And the TRULY INJURIED
That's the f@#$ed up part. I was retired out on an injury (no choice, my department forces retirements after a certain percentage of rated disability) to my back where I blew out 3 of the disc in my lower back. My case was settled before Arnie was even the governer, and in my settlement I took future medical care on my injury because I knew I would need surgery someday.
I could have taken a lump sum of $$$ instead but decided the medical care was more important. Now they are going back and trying to take future medical awards away from people. I have fought it and have won all the battles so far, but i also have a significant injury that you can clearly see on an MRI. Instead of looking at the questionable cases they are just trying to screw as many people as possible (at least in my case).
Now I own a business with about 25 employee's and I have yet to see a significant drop in my Work Comp rates. Hopefully I will see a decrease in my premiums, but after being on both sides of the issue I have a different perspective. The problem is the people that claim B.S. injuries, but unfortunately the insurance company, or the county in my case treats everybody the same. My.02