Big Drops Expected in 2019 Colo. Workers’ Compensation Rates

The Colorado Division of Insurance has approved a reduction of an average of 16.7 percent for the “loss costs” and the “rating values” components of workers’ compensation premiums for 2019.

Aviation companies, oil field trucking firms and casinos are among the employers that could see nice-sized drops in their workers’ compensation rates in 2019. Insurers have yet to come out with their own figures, but the Colorado Division of Insurance has approved a reduction of an average of 16.7 percent for the “loss costs” and… Read more »

Insurance Companies Change their Hail Policies

The days of an insurance company paying in full for a brand-new roof when yours is damaged in a hail storm are over. Here's how hail policies have been changing.

Hail season is about to arrive and so it’s hard not to think of May 8, 2017. Late that afternoon, a massive storm barreled through the Denver area, unleashing baseball-sized hail just as many of us were leaving the office for the day. The damage was widespread, although it was most evident around the Colorado… Read more »

Steel Tariffs Carry Potential to Bump Up Insurance Premiums

Premiums are set in part based on the value of goods. So if you’re in the construction business, the steel tariffs will influence your insurance costs.

Among other items, President Trump’s plan to impose a 10 percent tariff on aluminum could lead to higher beer prices and job cuts. But that’s only the beginning. The impact of the tariff on aluminum and an even bigger tariff (25%) on steel will influence prices on cars, refrigerators and all kinds of other manufactured… Read more »

Case Study: An Eye for Details Yields Big Workers’ Compensation Savings

workers' compensation

BUSINESS: Medical laboratory EMPLOYEES: 99 THE CHALLENGE: When it comes to workers’ compensation, a company’s experience modification rate, or E-Mod, can be the difference between night and day, profit and loss, exotic travel and staycations. A national workers’ comp rate-setting body determines a company’s E-Mod based on its record of injury claims in the workplace…. Read more »

How to Control your Commercial Auto Policy Costs

Respondeat superior. Yes, that’s another Latin phrase few of us learned in school. But if you’re the owner of a company whose employees drive company-owned or even their own vehicles for work, it’s a phrase you’d better understand. Very simply, we’re talking about a legal doctrine that translates into “let the master answer.” That means… Read more »

New Workplace Safety Tool Puts Your Employees First

GREENWOOD VILLAGE, COLO. (Sept. 14, 2016) – CCIG is pleased to introduce our new Risk Management Center platform as part of our commitment to help you improve workplace safety and keep claims and premiums under control. We’ve put all of the safety documents and loss-prevention programs you need in one place. Our new comprehensive web-based service… Read more »

Workers’ Comp Changes Coming in California

The formula that helps set workers’ compensation insurance premiums in California is about to change in a move intended to create parity for smaller employers. Beginning Jan. 1, the state will move from a fixed $7,000 claim split point to a variable split point based on a company’s size. There will be about 90 split points… Read more »