Highlights from JULY 2011 MeeTing

submitted by Glen Phares

The following items were discussed at the July meeting. The CRA Insurance Committee meets quarterly with members of our preferred provider Jenkins Insurance Services to review various matters affecting our industry within the liability, workers compensation and health care arena.

 

Paul Lindsey, Dana Thompson and Ryan Gonsalves presented for Jenkins.

 

Liability insurance rates remain largely unchanged. Surprisingly some softness has crept into the marketplace. Rates continue to be down 1-3%.The CRA group’s claims ratio remains strong at 42.33% for the 2008-2011period.

 

Workers Compensation reform is eroding. Currently experiencing rate increases of 10-20% upon most renewals. The market in California is hardening, right now the state loss ratio is 109%. The states system is not in good shape right now. Claims coming from party and event rental companies seem to be on the rise.

 

Health insurance is trending up at 20% per year. There is massive confusion over the new health care law. This is causing uncertainty from the insurers, businesses and individual policy holders. Until the confusion subsides look for rates to continue rising. Political climate is exacerbating this.

 

HR consulting services are available for Jenkins customers. Jenkins can help with employee handbook review, regulatory compliance issues, employee counseling and can provide folks to come out for HR consulting services. Please contact your local Jenkins Representative for more details. The committee is currently working towards adding education and safety materials to the CRA website for our members benefit.

 

Your feedback is appreciated. If you have any questions for the Insurance Committee please feel free to contact the CRA or myself.