As the 2023 group health open enrollment season nears, more employers have heard concerns among their staff and are focusing on affordability and easier access to health care services, according to a new study. Mercer’s “Health & Benefit Strategies for 2023” study, which surveyed more than 700 employers, found that more than two-thirds of businesses…
For the third year in a row, California Insurance Commissioner Ricardo Lara has rejected the Workers’ Compensation Insurance Rating Bureau’s proposal for a workers’ compensation rate increase, and has ordered instead that benchmark rates remain the same. Lara rejected the WCIRB’s proposal that benchmark rates increase 7.6% for policies incepting on or after Sept. 1,…
How effective is your insurance program? This question is answered by completing a Total Cost of Risk analysis, at which time the answer will be qualitative. A + B + C = Total Cost of Insurance. What is TCOR? The Total Cost of Risk, or “TCOR,” equips business owners with tools to analyze how their…
It is common for business owners to feel frustrated by insurance premiums consistently on the rise. As insurance brokers, we hear the frustrations daily. But in response, we ask, “Did insurance rates change, or has your business grown?” The three operational factors that impact the price of insurance are: Gross sales Payroll Assets, including fleet,…
InterWest’s Distinguished Employee: Cody Miller Cody is very inclusive and leads by example. He possesses the best qualities of a positive role model and has been a wonderful mentor to both the Interns and new staff members. It’s obvious that he truly cares about InterWest and all the work he does. Cody dives in with…