Pricing for workers compensation insurance continued to harden in California during the first half of 2013, according to a report published Wednesday by SNL Financial L.C.
California’s 10 largest workers compensation insurers by premium volume, which account for roughly 60% of the state’s marketplace, increased their rates an average of 4.3% during the first half of the year, based on filings for new business effective between Jan. 1 and July 1, according to SNL Financial’s report.
Excluding a 7% decrease filed in March by the State Compensation Insurance Fund, which is the state’s largest workers comp insurer, the average rate increase among California’s market leaders through July 1 was 5.9%. Within that group, the largest rate increases belonged to American International Group Inc. and Liberty Mutual Holding Co. Inc., which submitted rate hikes of 10.0% and 10.9%, respectively.
Statewide, rates for new workers compensation accounts were at their highest in February, when insurers in California filed average rate increases of 9.8% on $1.1 billion in premiums written, according to SNL Financial’s report.
At least 20 insurers in California included in SNL Financial’s analysis filed rate increases of 15% or more for new business in the first half of the year. Seven firms — including units of Liberty Mutual, CNA Financial Corp. and Nationwide Mutual Insurance Co. — filed rate increases of 20% or more, while units of Hanover Insurance Group Inc. and American Financial Group Inc. filed rate increases in excess of 30%.
Few decreased rates
Only a handful of companies included in SNL Financial’s analysis reported rate decreases in the first half of 2013. Among them was Federated Rural Electric Insurance Exchange, Church Mutual Insurance Co. and units of Nationwide and Utica National Insurance Group.
California’s workers comp market has been particularly bothersome for Tower Group International Ltd., SNL Financial said in the report.
Tower Group cited market conditions in California, where roughly 44% of the company’s workers compensation premiums are written, as one key driver behind the $326.7 million reserve charge it reported in its second-quarter earnings statement. Several of the company’s operating units in March were granted rate hikes of 6.2% for new business in California, and one unit — Preserver Insurance Co. — filed a rate increase of 17.1%.
Read the entire article here.
Contact Scurich Insurance Services today at 831-722-3541 to find out how we can assist you with all of your business insurance needs including workers compensation.
Content provided by http://www.businessinsurance.com/article/20131218/NEWS08/131219828?tags=%7C338%7C309%7C305%7C87%7C304%7C92
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Homeowners insurance coverage can be tricky. Some claims that one would think would be considered in the original homeowners insurance policy, are not (i.e. earthquakes, floods, etc.). Here are a few of the possible scenarios that are covered:
1. The sky is falling!
Chicken Little was onto something there. If meteors or UFO’s fall from the sky and crash into your house, your homeowners policy will have “open perils” policies to protect you from anything that isn’t specifically excluded. Falling objects are included in the policy. So if Marvin the Martian crashes into your home, theoretically, you are covered.
2. The volcano is going to blow!
We love the “open perils,” policies. Should Dante’s Peak destroys your house, aside from tremors or earthquakes, your homeowners policy should theoretically, cover your loss. Including if your house gets swallowed in a lava flow.
If you live in Hawaii, chances are you will also have a state-run volcano insurance coverage that you will need to look into.
3. It’s a Stampede!
We are being invaded by goats and cows! The cows just ran through home but the goats came and ate our sofa, gnawed on our furniture and well, destroyed everything.
Your homeowners insurance can over stampeding animals, as long as the animals do not belong to you. The animals must be wild and not domesticated.
4. Your loved ones tombstones.
Tombstones are a reminder of the loved ones we once lost. However, there are pranksters that will deface and defile tombstones, especially around Halloween.
Your loved ones tombstones are covered by your homeowners insurance.
5. The truly frightful
Some homeowners policies will cover certain costs related to a murder, suicide or an unattended death in your home. Not all homeowners policies have this option, best bet is to get a policy review and make any necessary adjustments.
Give us a call today for a complete homeowners policy review.
Content provided by Transformer Marketing.
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Scurich Insurance Services know that there is so many different types of insurance needs that everyone has. Commercial insurance needs are different than personal insurance needs and of course specialties. We also know that running around to different agencies for different needs is inconvenient, that’s why we have such a large array of services that we can provide you with. Look below and see just a few of the insurance needs we can accommodate:
Commercial Insurance
Commercial packages
Business auto
Workers Compensation
Umbrella
Directors & Officers
Professional liability
Employee practices liability
Personal Insurance
Auto
Home
Umbrella
Recreational vehicle
Watercraft
Life & health
Individual medical
Individual life
Group Medical
Group benefits
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Take care of your plugs. Charging our phones, iPads and laptops. Enjoying the big game on your flat screen television and a countless array of appliances for your parties.
Electrical fires are bound to happen. It is important that you should have your wiring inspected, especially if you live in a home that is over 10 years old. Here are some other safety tips to help prevent electrical fires:
- Get new electrical cords. Throw out all the frayed, loose, or damaged cords. Replacing these cords is a fairly inexpensive investment to protect your home from an electrical fire.
- Make sure you run extensions cords in areas that are visible. Do not run extension cords under carpets or across doorways where they can become a serious hazard.
- Child proof your plugs.
- Any electrical work should be done by a qualified, licensed electrician that has a good standing.
- Add more circuits our outlets by a qualified, licensed electrician so you don’t need extension cords.
- Use Instructions. When plugging in an appliance in an outlet, follow the directions of the manufacturer.
- Unplug appliances when not in use. Having too many appliances in one outlet can overload the outlet.
- Call your qualified electrician when you start noticing frequent problems with flickering lights, blowing fuses or if outlets and switches feel warm.
- Make sure all lamps are away from flammable objects and are leveled. Follow the appropriate wattage for each lamp.
- You need to have ground fault circuit interrupters (GFCIs) in the kitchen, bathrooms, laundry room, basement and all outdoor areas.
- You need to have arc-fault circuit interrupters (AFCIs) should be installed to protect your electrical outlets.
Feel free to contact our office today for a review of your homeowner’s policy.
Content provided by Transformer Marketing.
Scurich Insurance Services has proudly served the Monterey Bay area since 1924. Scurich will take care of all of your insurance needs. Are you a business owner, did you get a new car or maybe you are looking to protect your family in the event of a tragedy? Give us a call, we can help!
Let Scurich Insurance Services know if you are a Happy Customer!
We are located at:
Scurich Insurance Services
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
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When wood, coal, natural gas and gasoline burn carbon monoxide is the invisible gas that emanates from those fuels.
Carbon monoxide is released when using gas in your cooking or heating, having a fire in the fireplace or grilling with charcoal. Yes, even your gas dryer releases carbon monoxide.
People even die from carbon monoxide poisoning and in 2010, fire departments treated more than 80,000 carbon monoxide incidents.
Carbon Monoxide Prevention
Contact a professional and inspect all carbon monoxide emitting equipment. Make sure the equipment has unobstructed ventilation areas. After a snowfall, make sure that vents are still clear.
Grills should be used outdoors, not inside. Do not use the stove to heat your house, don’t run your car in the garage, yes, even with the garage door open.
Make sure you have carbon monoxide alarms.
CO alarms
Just like fire alarms, carbon monoxide alarms should be in central locations. Right outside of bedrooms and on every level of your house. Test your alarm monthly, and replace as needed
Read the entire article here.
Content provided by: http://blog.cinfin.com/2013/10/22/carbon-monoxide-dangers/
Scurich Insurance Services has proudly served the Monterey Bay area since 1924. Scurich will take care of all of your insurance needs. Are you a business owner, did you get a new car or maybe you are looking to protect your family in the event of a tragedy? Give us a call, we can help!
Let Scurich Insurance Services know if you are a Happy Customer!
We are located at:
Scurich Insurance Services
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Website | Facebook | Blog | LinkedIn | Happy Customer
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One of the questions we are frequently asked is, “How can you offer low prices?”
Our answer is simple. We work with a multitude of insurance companies and we shop around to get the best value for the types of coverage you need. We will look for discounts including bundling packages and other applicable discounts based on the types of policies you need. Here’s the list of companies we work with:
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ACE
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Allianz GSC Marine
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Allied Insurance Group
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AMTrust
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American Bankers – Flood
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Arrowhead
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BHHC – Berkshire Hathaway Homestate
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Chartis
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Chubb
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CIG – Capital Insurance Group
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CNA
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Commerce West
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Deans & Homer
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Employers Insurance Group
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EMC – Employers Mutual Casualty
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Encompass
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Everest National
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Financial Pacific
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Fireman’s Fund
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First American Specialty
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Foremost
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GMAC Insurance
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Golden Eagle
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Great American – Non-Profit
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Guard Insurance Group
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Guide One
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Hanover Insurance Group
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Hartford Insurance Group
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ICW – Insurance Company of the West
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ILM- Indiana Lumbermens Mutual
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Kemper – Personal Lines
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Liberty Mutual Middle Market
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Magna Carta
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Majestic
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Markel Risk Solutions
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MetLife Auto & Home
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MGAlive
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Midwest Insurance
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Nationwide Ag
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Navigators
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NIAC-Nonprofit’s Insurance Alliance of Calif.
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One Beacon
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Oregon Mutual
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Philadelphia
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Preferred Employers
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QBE Agri Insurance
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Republic Indemnity
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Safeco
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Seneca
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Sequoia
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State Compensation Ins. Fund
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Titan-( Victoria Insurance)
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TOPA
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Travelers
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Unigard Insurance Group
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Zenith
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Zurich
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Contact us if you are in need for car insurance, homeowners insurance, or commercial insurance. We will work hard for you to get the best price possible for your needs.
Content provided by Scurich Insurance Services
Scurich Insurance Services has proudly served the Monterey Bay area since 1924. Scurich will take care of all of your insurance needs. Are you a business owner, did you get a new car or maybe you are looking to protect your family in the event of a tragedy? Give us a call, we can help!
Let Scurich Insurance Services know if you are a Happy Customer!
We are located at:
Scurich Insurance Services
320 East Lake Avenue, PO Box 1170
Watsonville, CA 95077-1170
Office: 1-831-722-3541
Toll Free: 1-800-320-3666
Website | Facebook | Blog | LinkedIn | Happy Customer
Read more
Pricing for workers compensation insurance continued to harden in California during the first half of 2013, according to a report published Wednesday by SNL Financial L.C.