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Falling Work Comp Rates: The Good, the Bad, and the Ugly

R&R Insurance

On October 1, 2024 Wisconsin continued its trend entering a ninth consecutive year of reduced workers compensation insurance rates. It's the same story as was originally published in 2019, just more intense! Rates in 2024 fell an average of 10.5% compared to 2023, which is the most dramatic reduction in over a decade.

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Understanding the Impact of Frequency and Severity on Workers’ Compensation Premiums

AMAXX

These metrics are fundamental in determining the experience modification factor (often called “mod”), which ultimately influences the cost an employer will pay for workers’ compensation insurance. Underwriters view very large losses as rare and unlikely to repeat. All state laws vary.

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Blog Post: Frequently Asked Questions on Complex Employment Issues for California Workers’ Compensation

LexisNexis

The subcontractor does not have a contractor’s license nor workers’ compensation insurance. Does the general contractor have liability for the injured worker’s workers’ compensation benefits? Insurance Code section 11663 provides that liability for workers’ compensation insurance follows payroll.