Average Filed WC Premium Rate Climbs 2.8%

Insurance Commissioner Dave Jones last fall called for California workers’ comp insurers to cut their 2012 pure premium rates by 3% to an average of $2.30 per $100 of payroll. But reports from the field and the rate filings by the carriers themselves indicated that this would not be the case and yesterday afternoon the California Department of Insurance (CDI) confirmed it.

The Department says that instead of a 3% decrease, the average pure premium rate in California is actually up 2.8% from last year. That equates to an average rate of nearly $2.44 per $100 of payroll, according to CDI spokesman Byron Tucker.

Read the Full WCEXEC Article Here

Governor signs Wage Theft Protection Act of 2011: EMPLOYER ACTION REQUIRED

Governor Brown has signed into law AB 469 (Chapter 655, Statutes of 2011) known as the Wage Theft Protection Act of 2011. Click here for the full TEXT of the Bill. The provisions of the Act become effective January 1, 2012. Labor Code section 2810.5 was added by the bill which requires that all employers must provide each employee at the time of hire with a written notice that contains specified information and must be provided in the language the employer normally uses to communicate employment-related information to the employee. The Section requires that the Labor Commissioner make available a template that complies with the requirements of the notice.

Here is the English version of the notice. PDF of Employee Notice Other languages are available on the Department of Industrial Relations website here.

Carlsbad Business Journal Now Available Digitally!

One of our favorite local publications, the Carlsbad Business Journal, published by the Carlsbad Chamber of Commerce, is now available in digital form. Check it out! Carlsbad Business Journal Online

CA State Fund Declares a $50 Million Dividend to Policyholders

State Fund Press Release, “We are pleased to announce a $50 million dividend to qualifying policyholders in the form of a premium credit.  This is approximately 5.2 percent of estimated annual premium for the 2011 policy year.”  For more information, follow the link! STATE FUND DIVIDEND PRESS RELEASE

Research shows bump in uninsured drivers in CA

Insurance Research Council analysis shows that one in seven drivers may be driving uninsured. Now is a good time to make sure you  have adequate uninsured motorist and underinsured motorist coverage. LEARN MORE ABOUT UNINSURED MOTORISTS

Refer us our next client, get pampered!

We love rewarding those that generously refer us to their friends and colleagues.  With our new referral rewards program, you can reap the benefits of benchmark’s growth.  Simply click THIS LINK to send us the name and contact information for someone who you think could benefit from our services, and you too could benefit!

 

benchmark Has a New Corporate Office

In May, we relocated our corporate office to our brand new building in Bressi Ranch, Carlsbad.  We took an empty shell and spared no expense on the tenant improvements.  From the “Big Ass Fans”, to the Italian commercial espresso machine at the front, this new space is like no insurance office you have ever seen.  We invite you to come by any time for an artful latte and a casual chat.

Welcome to the benchmark blog

We’ve set up this News area to post information we believe will be helpful for our customers. We all hope you enjoy reading the articles.