California Business and commercial insurance trends as I see the California Insurance Market evolve from the perspective of a independent California commercial insurance broker. Industries I have clients in include non-profits, manufacturing, commercial property owners, technology and software to name a few. I'll be discussing the trends in California Workers Compensation, Property Insurance, E&O, Errors and omissions, Directors and officers, D&O, EPLI, and other coverages
Tuesday, December 23, 2008
California Businesses Should I shop my workers compensation policy?
California businesses can expect at least a 5% increase in their workers compensation policy during . This increase is due to higher medical and claims adjustment costs to the system. This is a much smaller increase than was expected earlier in the year when the market was expecting a greater than 15% increase. As returns slip, medical costs increase and management costs expand we can expect this minimal increase is only temporary and larger increases are expected for California.
It is important for California business owner's to understand they have options when it comes to their workers compensation coverage. Their are over 30 insurance carriers that offer worker's compensation coverage for California businesses, and many of these carriers are extremely competitive. Carriers from Traveler's, Chubb, The Hartford, Zenith, First Comp, Comp West just to name a few can be just as competitive in certain workers compensation classifications. Worker's Compensation quotes are easy to obtain and should take your broker only a day or two to turn around to you, and could help you save 10-30% on this mandatory coverage. Get a Workers Compensation Quote today and find out if you are in the right place.
