News

Work Comp Loss Costs To Decrease 6.4%

  • Post category:News

​The New York Compensation Insurance Rating Board (NYCIRB) announced yesterday that its filing for a 6.4% decrease in Workers' Compensation insurance loss costs has been approved. The new loss costs apply effective Oct. 1, 2021. Many of your clients may see reductions in their base loss costs.The NYCIRB files proposed loss costs with the New York State Department of Financial Services for approval every summer. Individual insurers periodically file a numerical factor called a "loss cost multiplier" with DFS. The loss cost multiplied by the loss cost multiplier produces the final rate that an insurer charges an employer for Workers' Comp insurance. The NYCIRB said that this is…

Continue ReadingWork Comp Loss Costs To Decrease 6.4%

​New Webinar Series: Website Wording Liabilities

Th​e Big “I" Professional Liability Risk Management team invites Big “I" members to attend the second set of sessions in its complimentary new webinar series, Your Website Says WHAT? How Your Agency's Online Presence Puts Your Business at Risk.This series of webinars is focused on the errors & omissions issues created by agency websites and an agency's overall marketing efforts. The sessions will help you understand how the words you use can create unrealistic expectations and what you can do to prevent that. During each 30-minute session, you'll learn about this topic from one of multiple angles, including agents, attorneys, claims adjusters, auditors, and the Big…

Continue Reading​New Webinar Series: Website Wording Liabilities

HR July 2021 Q&A – Is one of our employees job hunting?

​Q: I just received a call asking for a verification of employment for one of my employees. I thought everything was good based on recent conversations, but now I’m not sure what is going on. Can I ask them if they are job hunting?A: Legally, yes, you can ask since you learned about the job search through a legitimate source. However, you should not if you learn of it through an unreliable method such as the rumor mill, by searching an employee’s social media page, or by finding the employee’s resume on a job site.The more important question is SHOULD you ask and if so,…

Continue ReadingHR July 2021 Q&A – Is one of our employees job hunting?