A few articles like this in the Insurance Industry news lately. Again, it makes no sense. With a strong economy and hiring on the rise (and unemployment decreasing), premiums should be increasing. Once again, the CSLB and other regulators need to do a much better job of enforcement. Overall premium should be up, and growing, despite the fact that rates for some classifications may be dropping somewhat. Compliance to the mandatory law of carrying Workers’ Compensation whether EEs are W-2 or 1099 must be adhered to/enforced.
A few articles like this in the Insurance Industry news lately. Again, it makes no sense. With a strong economy and hiring on the rise (and unemployment decreasing), premiums should be increasing. Once again, the CSLB and other regulators need to do a much better job of enforcement. Overall premium should be up, and growing, despite the fact that rates for some classifications may be dropping somewhat. Compliance to the mandatory law of carrying Workers’ Compensation whether EEs are W-2 or 1099 must be adhered to/enforced.