TUESDAY, APRIL 26, 2022
Worker's Compensation continues to remain the only coverage line where rates generally remain flat or in negative territory, with an overall rate decrease approximately 6%.
That said, Work Comp continues to trend favorably in terms of rates, discounts and credits.
At Coastal Select, we are seeing that package carriers leverage this line of coverage against the commercial package | business auto | umbrella (excess) coverages in order to provide more competitive overall program pricing. It is also important to note that most Work Comp carriers have backed off the COVID-19 coverage restrictions and guidelines they previously had in place.
Every business should have Work Comp coverage, especially in higher hazard work environments. One slip and fall, back injury from lifting or any other event that results in employee pain and suffering should be covered to protect the owner(s) from this liability.
Posted 8:05 AM
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