Workers' Comp Rates Increase for Many in January

Recent rate filings with the California Department of Insurance indicate that most companies are making significant increases in their workers’ compensation effective Jan. 1, 2012.

Medical costs have continued to rise and the numbers of injuries have increased as well, forcing most workers’ compensation insurance companies to increase their rates in order to maintain sustainability in the marketplace. A few companies filed increases of less than 10 percent, but many companies have filed increases between 10 and 30 percent. Most companies reflect the general trend of large increases to try to keep pace with rising costs in the workers′ compensation system.

If you are are concerned about a potential increase from your carrier, Western Growers Insurance Services can assist you in finding competitive alternatives to your current workers’ compensation coverage. With access to more than 30 companies and workers′ compensation specialists with an average of 20 years of experience to assist you, WGIS can secure very competitive quotes from a number of markets, as well as provide you with all of your safety, first aid and other required certificate training. Avoid being surprised by your policy renewal. Please contact us for more information.