As long as there are the corrupt judges in Oxnard, lawyers in Ventura county will be encouraging WC claims to be filied by immigrants. Lawyers do not get paid unless there are settlements.
So the commissioner lowers our commissions and wanted the state fund to increase rates because they were writing to much business. Now he says there rate decrease is not enough!!!??? What does he want them to write more business? from what I have experienced recently the states rates are still the lowest in the state!!! what does quackamendi want really?
The issue of workers compensation rate DE-creases has been one of the “hottest” political potatoes in recent history. Rightfully so, as many businesses have suffered to the point of having to CLOSE due to such increases. However, we see a LOT of posturing by various individuals (including our current insurance commissioner) which makes me “wonder?” Just how much of this “posturing” is for the benefit of California’s employers….and how much is for the political value of running for higher office in the future? Here’s a message from the business men and women I insure with workers compensation insurance to ANYONE who might have any influence on rates: BRING THEM DOWN and stop with the political shannanigans! We’re NOT stupid and can CLEARLY see when an individual is attempting to take advantage of the situation to “feather” his/her/their own nest. Thank you.
Garamendi is a self serving politician and always has been. He speaks out of both sides of his mouth and uses his own press releases to advance his real agenda, still aspiring to be govenor one day.
With Garamendi’s move to lower commissions with State Fund to a maximum of 5.5%(some classifications pay 0%), brokers cannot afford(or barely afford) to offer risk management, claims management, or safety support on accounts under $250,000 or $300,000. What this does is cause the smaller clients to rely on State Fund to manage, which as we all know their claims handling is among the worst in the industry. The result is increasing reserves and claims expenses as a result of the broker left with limited resourses to contain his clients’ losses.The result is soaring experience modifications. Try to do a claims review for unit stats with State Fund. They don’t want you to challenge their methods. There’s where a large part of the reform needs to be targeted, not cutting our commissions by 45% and more.
Also notice their aggressive loss control push of recent to establish direct contact with your clients.Anyone see a potential of the broker disappearing from this relationship one day soon?
Garamendi’s real agenda is to cut the broker out of the loop altogether, believing that we’re just an unneeded expense. It shows he still doesn’t get the picture, he just likes to throw the blame on other parties rather than finding real solutions.
It’s interesting that our Commissioner takes credit for the reductions, as if he really had an impact on the pure premium rates.
What’s not discussed is that the WCIRB adjusted the factors utilized in the Experience Rating. The factors used to calculate the Experience Modification Factors changed significantly, causing most Mods to rise, effectively negating any rate decrease. What has our Commissioner done to stop this from happening? More political “Smoke and Mirrors”
gman are you an actual broker looking out for your interest or the interest of your clients? SCIF is higher than every private carrier I know of in CA.
MC…I am a broker that does not work for free..do you? In order to service you clients properly there should be an income stream of some kind. If the state fund is your highest commission paying company you need better carriers or ones that pay you to provide the services they don’t.
I agree with Bill P. I wonder how people realize that the pure rate premium and the loss rates percentages used to calculate the XMOD are two different things. While it will be nice if my carrier lowers the pure rate premium, the loss rate assigned to the XMOD calculation, could in fact wipe out any gains on a lowered pure rate premium. Yep, smoke and mirrors.
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As long as there are the corrupt judges in Oxnard, lawyers in Ventura county will be encouraging WC claims to be filied by immigrants. Lawyers do not get paid unless there are settlements.
I understand that the rate decrease will be offset by the elimination of the 10% Kaiser Alliance discount.
So the commissioner lowers our commissions and wanted the state fund to increase rates because they were writing to much business. Now he says there rate decrease is not enough!!!??? What does he want them to write more business? from what I have experienced recently the states rates are still the lowest in the state!!! what does quackamendi want really?
The issue of workers compensation rate DE-creases has been one of the “hottest” political potatoes in recent history. Rightfully so, as many businesses have suffered to the point of having to CLOSE due to such increases. However, we see a LOT of posturing by various individuals (including our current insurance commissioner) which makes me “wonder?” Just how much of this “posturing” is for the benefit of California’s employers….and how much is for the political value of running for higher office in the future? Here’s a message from the business men and women I insure with workers compensation insurance to ANYONE who might have any influence on rates: BRING THEM DOWN and stop with the political shannanigans! We’re NOT stupid and can CLEARLY see when an individual is attempting to take advantage of the situation to “feather” his/her/their own nest. Thank you.
Garamendi is a self serving politician and always has been. He speaks out of both sides of his mouth and uses his own press releases to advance his real agenda, still aspiring to be govenor one day.
With Garamendi’s move to lower commissions with State Fund to a maximum of 5.5%(some classifications pay 0%), brokers cannot afford(or barely afford) to offer risk management, claims management, or safety support on accounts under $250,000 or $300,000. What this does is cause the smaller clients to rely on State Fund to manage, which as we all know their claims handling is among the worst in the industry. The result is increasing reserves and claims expenses as a result of the broker left with limited resourses to contain his clients’ losses.The result is soaring experience modifications. Try to do a claims review for unit stats with State Fund. They don’t want you to challenge their methods. There’s where a large part of the reform needs to be targeted, not cutting our commissions by 45% and more.
Also notice their aggressive loss control push of recent to establish direct contact with your clients.Anyone see a potential of the broker disappearing from this relationship one day soon?
Garamendi’s real agenda is to cut the broker out of the loop altogether, believing that we’re just an unneeded expense. It shows he still doesn’t get the picture, he just likes to throw the blame on other parties rather than finding real solutions.
It’s interesting that our Commissioner takes credit for the reductions, as if he really had an impact on the pure premium rates.
What’s not discussed is that the WCIRB adjusted the factors utilized in the Experience Rating. The factors used to calculate the Experience Modification Factors changed significantly, causing most Mods to rise, effectively negating any rate decrease. What has our Commissioner done to stop this from happening? More political “Smoke and Mirrors”
gman are you an actual broker looking out for your interest or the interest of your clients? SCIF is higher than every private carrier I know of in CA.
MC…I am a broker that does not work for free..do you? In order to service you clients properly there should be an income stream of some kind. If the state fund is your highest commission paying company you need better carriers or ones that pay you to provide the services they don’t.
Insurance carriers are still paying fraudulent awards to applicants/Lawyers/Md’s
I agree with Bill P. I wonder how people realize that the pure rate premium and the loss rates percentages used to calculate the XMOD are two different things. While it will be nice if my carrier lowers the pure rate premium, the loss rate assigned to the XMOD calculation, could in fact wipe out any gains on a lowered pure rate premium. Yep, smoke and mirrors.