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Old 08-14-2012, 10:01 PM
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mjlcare2 mjlcare2 is offline
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Workers comp info

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.
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Old 08-14-2012, 10:10 PM
Duekster Duekster is offline
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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.
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Old 08-14-2012, 10:24 PM
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mjlcare2 mjlcare2 is offline
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Quote:
Originally Posted by Duekster View Post
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.
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Old 08-14-2012, 10:30 PM
Duekster Duekster is offline
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Quote:
Originally Posted by mjlcare2 View Post
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.
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Old 08-14-2012, 10:39 PM
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mjlcare2 mjlcare2 is offline
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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?
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Old 08-14-2012, 11:12 PM
Duekster Duekster is offline
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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
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Old 08-15-2012, 04:20 PM
keithslawnc keithslawnc is offline
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I have a policy through FUBA(Florida Citrus Brokers Ass.) they seem to be fair. Got the policy through Nationwide.
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Old 09-19-2012, 09:21 AM
mowerman87 mowerman87 is offline
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Workers Comp Confusion

Quote:
Originally Posted by Duekster View Post
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!
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Old 09-24-2012, 07:59 PM
Duekster Duekster is offline
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Quote:
Originally Posted by mowerman87 View Post
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.
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  #10  
Old 08-15-2012, 06:36 PM
RoyalTree RoyalTree is offline
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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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