Thursday, March 04, 2010

Workers Compensation/ AB 32 Global Warming

On Tuesday I spoke at the Department of Workers Compensation conference. Dave Belluschi from the Workers Compensation Insurance Rating Board also was a speaker and he reported that he expects that combined loss ratio for workers compensation for 2009 was going to be around 125%. The combined loss ratio for 2008 was 111%. As I have said before at some point there is going to be double digit increases for small businesses for their comp insurance.

You all may know that there is a movement afoot to put a measure on the ballot to suspend implementation of AB 32.The measure will delay implementation until California’s unemployment drops to 5.5% for a year. Currently the unemployment rate is just over 12%.

Yesterday Valero Energy Corp and Tesoro Corp Texas based refiners have pledged $2 million to get signatures to put this on the ballot. What are your thoughts on this?

Scott Hauge
Small Business California
2311 Taraval Street
San Francisco, CA 94116

1 comment:

john..... said...

very well written and intriguing post. thanks author. i would like to have a say on Compensation Claims, The workers compensation insurance helps protect people from missing wages that are a result of a workplace injury or accident. If a worker is injured on the job, the compensation boards will evaluate the claim and determine whether or not the work is entitled to their claim. The most important part about this insurance it is a no-fault insurance. This means that even if the accident is your fault, you can still get compensation.