Happy New Year! 2013 Here We Come!

Wishing all of my readers a very happy and safe New Year's!  

Which Workers Comp Wage Thresholds are Increasing for 2013???

Many of us don't agree with the wage threshold hikes, but we're just the messenger for the Workers Compensation Bureau & Insurance Commissioner.  Brokers in our office have had to make difficult phone calls in the past few weeks to our clients and explain the wage threshold increases.  And believe me, no one is happy about the changes.

Here are the workers compensation class codes that will see an increase in wage threshold effective January 1, 2013:

5403 & 5432 - Carpentry $26 per hour to $29 per hour

5467 & 5470 - Glaziers $26 per hour to $29 per hour

5027 & 5028 - Masonry $24 per hour to $27 per hour

5632 & 5633 - Steel Framing $26 per hour to $29 per hour

5446 & 5447 - Wallboard $26 per hour to $31 per hour

Electrical, plumbing, sheet metal and refrigeration class codes were all proposed to be increased but were not approved by the insurance commissioner.   

Also, for California, S.B. 863 was signed into law this past September and effective January 1, 2013.  It's overall goal is to reduce costs within the workers' comp system by addressing critical cost-drivers: minimizing delays in medical treatment, improving access to MPN care and increasing permanent disability benefits.  For more information on new insurance laws coming into effect in 2013 across the nation, check out this Insurance Journal Article HERE.  

Many of our clients are having to reevaluate their books for 2013 and beyond.  We hope that even due to these wage threshold increases that everyone has a prosperous and healthy new year!

Less Clients, More Service

'Tis the season for being thankful!  And this season I am absolutely thankful for my each and every one of my clients.  They make my day colorful with emails and phone calls.  But the true test is actually being able to be there for a client when accidents or claims do occur.

Late last night I received an email from a client that one
of their properties had been damaged severely from the storm this past weekend.  I was able to respond to them immediately, via my trusty iPhone, and give my client a call first thing this morning to hop on the claim.  In this particular case my client owns an entire block of town homes and there were quite a few town homes that suffered severe water damage due to the storm. Not only was the owner and property manager worried about the damage, but also wanted to put their tenants at ease that this big mess would be taken care of.  

How inconvenient to have to deal with a storm right before the holidays???  Imagine presents, etc., on the floor around the tree that are soaked while you're out running errands.  Not a fun way to come home.  In cases like this, it's my job to make sure things are followed up on and processed accordingly.  I spoke with the owner and the property manager this morning.  I also filed the claim on behalf of the insured to make sure that an adjuster would be assigned to the claim right away.  Now, is it my duty to file the claim on behalf of the insured?  No.  But do I feel better making sure it is filed and being handled properly because of this?  Absolutely.  

Sometimes brokers take the easy way out and redirect insured's to call a 1-800 claims number.  While this may be the most "efficient" way of handling a claim since there is no longer a middle man, it's definitely not the most personal to handle a claim.  Claims are extremely sensitive.  Someone's property is damaged, or in the worst case, someone's injured.  As a broker it's my responsibility to take time out of my day and make sure my clients are O.K.  That is the least I can do when a claim occurs.  If your current broker isn't taking the time to make sure your business is O.K. when a claim occurs, maybe it's time to start thinking about finding someone who has less clients and is more concerned with their clients well-being than their bottom line.