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mjlcare2
08-14-2012, 11:01 PM
Anybody care to share who they use for workers comp and their current rates for class code 0042 and 9102.. Just got my yearly audit back and they raised my rates a by 43% for what I consider to be a small increase in payroll. All in all they are busting my balls and its getting ridiculous.

Duekster
08-14-2012, 11:10 PM
The cost is based on payroll. Did the percentage per 100 go up or just the wages?

So if you had 2 guys and hired 1 that is 33% but you could be playing catch up too.

mjlcare2
08-14-2012, 11:24 PM
The cost is based on payroll. Did the percentage per 100 go up or just the wages?

So if you had 2 guys and hired 1 that is 33% but you could be playing catch up too.

lol I understand how workers comp works.. the percentage per 100 went up I am guessing.. they did not specify on the new bill why it was raised.. the wages(not # of employees) did increase but it was not a significant amount to justify such a significant increase. overall I'm just unhappy with the company and searching for a new one with more competitive rates.

Duekster
08-14-2012, 11:30 PM
lol I understand how workers comp works.. the percentage per 100 went up I am guessing.. they did not specify on the new bill why it was raised.. the wages(not # of employees) did increase but it was not a significant amount to justify such a significant increase. overall I'm just unhappy with the company and searching for a new one with more competitive rates.

They should send you an audit letter explaining the changes.

I had one company they kept getting some charges on my bill., I would get it off and it would show back up. I finally switched, gave them grief and got almost 800 back. You really need to know your rates and what the surcharges are.

mjlcare2
08-14-2012, 11:39 PM
trying to get that kind of info from them let alone trying to PAY them is a headache.. hence the change. I had the rates before receiving the last bill. Seems they forgot to send the audit letter.. their billing is also sporadic. FirstComp supposed to be a reputable large company. I've had them for years and just dealt with it but enough is enough.. soo.. care to share who you use?

Duekster
08-15-2012, 12:12 AM
American First is the underwriter and they used some smaller ( owned ) company to get an even lower rate. I pushed on my agent to get me a better deal.
I am thinking right now I am running .45 on WC and .55 on GL but that is TX

keithslawnc
08-15-2012, 05:20 PM
I have a policy through FUBA(Florida Citrus Brokers Ass.) they seem to be fair. Got the policy through Nationwide.

RoyalTree
08-15-2012, 07:36 PM
I just got a renewal letter from my company and they raised the price. I have called for an explanation but have yet to receive one. I dont know if they changed my codes, rates or payroll. I have ascendant insurance. Never had any issues with them before.
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zturncutter
08-15-2012, 10:12 PM
http://funnybaby5.com/Accident_at_work/workers-comp-2012-workers-comp-rates-for-the-florida-landscaping-industry/

I use Black bear in Orlando. www.BearWiseLandscapers.com .

Rates went up again this year.

mjlcare2
08-16-2012, 12:03 AM
http://funnybaby5.com/Accident_at_work/workers-comp-2012-workers-comp-rates-for-the-florida-landscaping-industry/

I use Black bear in Orlando. www.BearWiseLandscapers.com .

Rates went up again this year.

thats who I currently use.. a 43% price increase is unacceptable. Gonna give Dawn a call on Monday!

zturncutter
08-20-2012, 08:38 PM
thats who I currently use.. a 43% price increase is unacceptable. Gonna give Dawn a call on Monday!

So what did you find out ?

mjlcare2
08-20-2012, 09:14 PM
nothing yet.. been a busy two weeks.. looking at purchasing another business so I've been dealing with all that paperwork for the banks, CPA, etc.. will update as soon as I make the call

zturncutter
08-30-2012, 07:42 AM
Any new info ?

mjlcare2
08-30-2012, 09:30 AM
Dang.. I keep forgetting to update this. Nothing set yet. I just picked up a new CPA and she is working on a couple of quotes. From what I gather the auditor took both owners dividends(investment payout) as payroll when it should not. They also changed our classification rate to 50/50 managment and labor when I stated both owners are out in the field (meant overseeing jobs,etc). Management rate is $4.x per $100, whereas labor is $7.x.. both are small mistakes by the company that can be fixed but that could have cost me thousands.. I am switching for that fact alone.. I can't afford them to make little mistakes and who knows.. maybe they made them on purpose to get more money out of us.. I doubt, but you never know. Will update again when I finalize with a new company and what not.
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mowerman87
09-19-2012, 10:21 AM
American First is the underwriter and they used some smaller ( owned ) company to get an even lower rate. I pushed on my agent to get me a better deal.
I am thinking right now I am running .45 on WC and .55 on GL but that is TX

Duekster- I noticed you're located in DFW and was just hunting for some regional info on Workers Comp. My situation is that I'm trying to bid on some municipal work and, as you know, government contracts require WC insurance. I feel like it may be worth adding this cost to my overhead given the volume of these contracts and the fact that they last for 2 years. 2 years ago, I tried to bid on these very same contracts (mowing parks, right-aways, etc.) and stalled out due to the WC issue. At the time, my research and conversations turned up agents who wanted the whole year's worth of premiums up front... Is this standard for the WC insurance biz? And if you don't mind saying, what kind of set-up do you have? Also, any other general info on the subject would be appreciated. Thanks!

mjlcare2
09-19-2012, 11:14 AM
You can go with a pay-as-you-go set up meaning it comes out with your payroll however frequent that is for you.. WC is no cheap and I can see why most people don't carry it.. roughly $7 per hundred in payroll, ( IE you pay your guys $400 a week, $28 a week is WC) you have to report your earnings to them every year when they audit you and if they find a mistake in payroll, you could be left with a couple thousand dollar bill.. not to scare you.. but I would consider hiring a CPA if you don't have one already.. they usually have pretty good contacts in WC companies and such.. otherwise to do it all yourself is a ton of paperwork and confusion.

jvanvliet
09-23-2012, 07:56 PM
thats who I currently use.. a 43% price increase is unacceptable. Gonna give Dawn a call on Monday!

Rates are promulgated in Florida, ask if they are projecting a higher payroll.

I go through Wells Fargo for payroll and comp; I only pay comp based on my actual payroll. Some independent agents will project a higher payroll than actual, maybe they get a bigger commission.

Duekster
09-24-2012, 08:59 PM
Duekster- I noticed you're located in DFW and was just hunting for some regional info on Workers Comp. My situation is that I'm trying to bid on some municipal work and, as you know, government contracts require WC insurance. I feel like it may be worth adding this cost to my overhead given the volume of these contracts and the fact that they last for 2 years. 2 years ago, I tried to bid on these very same contracts (mowing parks, right-aways, etc.) and stalled out due to the WC issue. At the time, my research and conversations turned up agents who wanted the whole year's worth of premiums up front... Is this standard for the WC insurance biz? And if you don't mind saying, what kind of set-up do you have? Also, any other general info on the subject would be appreciated. Thanks!


They want 20% upfront.

Problem with most Muni jobs is many want Bid Bonds. I just have not taken the time to be rated for bonding.