Amidst news of insurance rate hikes from throughout the country, the Pennsylvania Department of Insurance offers a change of pace. State regulators have announced the approval of a 5.7% decrease in workers’ compensation costs. The rate reduction is estimated to save the state’s employers approximately $160 million. The 5.7% decrease is a reflection of average reductions throughout the state and will not affect all consumers in Pennsylvania. Some will see higher rates while others see no changes at all, according to regulators. Insurance Commissioner Mike Consedine believes that the rate…
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Workers’ compensation exposure on the rise with more mobile workers
A clear growth of workers’ compensation exposure is now causing alarm among employers and risk managers with the remarkable rise in the number of mobile workers. This was discussed in this year’s meeting of Risk and Insurance Management Society (RIMS) held recently in Vancouver. In the said forum experts advised both employers and risk managers to formulate stable and concrete rules pertinent with workers’ use of any types of mobile devices at work. According to Maureen McCarthy, Liberty Mutual, manager of Workers’ Compensation and Managed Care it is a must…
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