We are getting more and more questions about where work comp rates are heading in 2021 as a result of the pandemic.
A handful of states, including California and New York, have introduced bills requiring compensation for first responders, health care workers or what are considered critical workers rendered critically ill by COVID-19. A close look at data from the National Council on Compensation Insurance (NCCI) provide estimates on costs to employers for first responders and health care workers that could go as high as $16 billion. The cost for non-essential workers could range from between $2.7 billion to $80 billion for all states NCCI tracks data. See the NCCI report below.
https://www.ncci.com/Articles/Pages/Insights-COVID-19-WorkersComp-Modeling-Potential-Impacts.pdf
This could mean higher costs for staffing companies as they try to navigate what the various states are doing.
The Work Comp Staffing Solutions team of Licensed Agents are glad to secure Workers Comp policies, and always shop for the lowest rates and best programs. Same day indications, with binding of coverage typically in 3-5 business days. Our Agents can also make sure your G/L and P/L policies are appropriate for these new risks as well.
Please feel free to contact us at 202-302-1212, david@StaffingCompSolutions.com and visit us at www.StaffingCompSolutions.com
Stay Safe,
David Schek
President
StaffingCompSolutions.com