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Scurich Insurance Services has been serving the Monterey Bay Area since 1924. Our mission is to partner with our customers and provide them superior service and value. We are a member of United Valley Insurance Services, Inc., a cluster of over 70 California Independent Insurance agencies, which produced over $530,000,000 of annual premium last year. At Scurich Insurance Services we understand your business and our community. Our customers look to us for comprehensive solutions. We have established relationships with more than 40 of the nation’s leading insurance providers, which allows us to deliver multiple, competitively-priced options and a team of experts to guide you through the process. When you need to file a claim, change a policy or process a certificate you can depend on Scurich Insurance Services to respond quickly to your request. SERVICES In order to provide value added benefits to our customers that go beyond the insurance policy Scurich Insurance Services offers the following additional services: Safety Programs – English and Spanish OSHA Compliance Safety Policies – English and Spanish Online OSHA 300 Log Safety Posters and Payroll Stuffers - English and Spanish Certificates of Insurance – If received before 3:30pm done the same day Risk Management Consulting Brokerage Services Represent most major insurance companies to better market your account. Safety tapes/DVD’s BUSINESS LINES Commercial Commercial Packages Business Auto Workers Compensation Umbrella Bonds Directors & Officers Professional Liability Employment Practices Liability Personal Auto Home Umbrella Recreational Vehicles Boatss Life & Health Individual Medical Individual Life Group Medical Group Benefits
New Compensation Rating Formula Lowers Premiums For Most Businesses
1 A revision to the formula for calculating Workers Compensation rates is saving premium dollars for companies in a large number of states since the first of this year. The change involves the experience modification ("mod"), the premium credit or debit that businesses receive for their claims experience. The mod compares your claim experience to that of other firms in your industry; if your experience is good, you'll get a premium credit if not, you'll receive a debit. What has changed is the "split point" between the primary and excess portions of a claim. This value is important because the primary portion of each claim has a far larger impact on predicting an employer's mod than does the excess portion. For the past two decades, the split point has been $5,000. However, inflation has both eroded the primary/excess split point and hurt its predictive power; the mod doesn't give enough credit to good experience and doesn't penalize poor experience enough. The change raises the split point to $10,000 in 2013, $13,500 in 2014, and an estimated $17,000 in 2015. In 26 of the 38 states that have approved the new formula, a survey of more than 75,000 businesses by the National Council on Compensation Insurance found that 62% of them will see their rates fall by 5% or less this year. Another 11% will enjoy decreases of 5% to 10%, while rates will stay unchanged for 4.5%. Fewer than one in four (22.5%) - mostly larger businesses - would see a rate increase. Our Workers Comp specialists would be happy to discuss the revised experience mod formula with you - and make sure that you enjoy the cost savings that it can provide. Feel free to get in touch with us at any time.