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Part 2: Workers’ Comp Independent Premium Audits Explained

AMAXX

In this three-part series, we are examining nine elements of independent premium audits to help you better understand and control your workerscompensation premiums. These foundational aspects are crucial for ensuring accurate premium calculations and avoiding costly mistakes.

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WCIRB: California Workers’ Comp Written Premium in 2023 Was up Slightly

Insurance Journal

California workerscompensation written premium in 2023 was slightly above 2022, while written premium for the first six months of 2024 is 2% lower than the first six months of 2023, a new report shows. The WorkersCompensation Insurance Rating …

Premium 277
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‘Dr. Taxes’ in Georgia Charged with Taking Workers’ Comp Premiums from Clients

Insurance Journal

A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workerscompensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …

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Maryland Report Says Many Workers Misclassified, Costing $59M in Workers’ Comp Premiums

Insurance Journal

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workerscompensation premiums each year, according to a report from a state task force. Maryland’s Joint Enforcement …

Premium 255
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Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago

Insurance Journal

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the WorkersCompensation Insurance Rating Bureau of California. The WCIRB released its …

Premium 276
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Part 1: Workers’ Comp Independent Premium Audits Explained

AMAXX

When an employer receives a revised workerscompensation premium bill, the accuracy of the bill can be uncertain and confusing. To ensure fairness and correctness, an independent premium audit is highly recommended. It is crucial to segregate payroll accurately by the correct classification codes.

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Washington Workers’ Comp Premium Going up in 2025

Insurance Journal

The average cost of workerscompensation insurance in Washington will go up about 3.8% Employers and workers together will pay on average roughly $1 per week more for each … in 2025, the Washington State Department of Labor & Industries announced.