WC disability benefit adjusted Oct. 1

The State Labor Commissioner has determined that the estimated average weekly earnings of all employees in Connecticut effective Oct. 1, 2014, has decreased from $1,184 to $1,175. Therefore, the maximum compensation rate for total disability and decedents' dependents is now $1,175 for injuries occurring on or after Oct.1, 2014. The maximum compensation rate for partial disability is equivalent to the average weekly earnings of production and related workers in manufacturing in Connecticut, which the commissioner has determined to increase from $985 to $991, effective Oct.1, 2014. More …  

NCCI files WC loss-cost and rates decrease

The NCCI recently submitted a workers’ compensation loss-cost filing that proposes an overall pure premium level decrease of 0.6 percent for the voluntary market. This includes a -0.4-percent change for experience and trend, a -0.2-percent change for benefits and no change for loss-based expenses. Also filed is a proposed overall decrease in assigned risk rates of 0.5 percent, which includes a +0.1-percent change in the loss-cost multiplier. The filing is proposed to be effective Jan. 1, 2015, for new and renewal voluntary and assigned-risk policies, and is pending review by the Connecticut Insurance Department. More …   

NCCI publishes its Experience Rating Update Report

The National Council on Compensation Insurance’s Experience Rating Update Report, which includes information about: the efficiency of experience rating; preliminary vs. final mod; when a mod factor will be revised; the new Riskworkstation^TM and manuals library; and enhancement of workers’ compensation knowledge has been published online.   

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Coming up: Fall CE Fest, Oct. 8

PIACT’s fourth-annual Fall CE Fest Wednesday, Oct. 8, 2014, 9 a.m.-4:30 p.m., at the Crowne Plaza, Cromwell, brings something for everyone. Earn seven continuing-education credits and catch up on what’s hot in the insurance industry. Mishell K. Magnusson, CIC, CISR, CPIA, AAI, FIPC, brings her expertise to the table for two dynamic education sessions: Commercial Lines Property Exposure Pitfalls (CTCE: 4 PC) and Commercial Casualty Exposure Pitfalls (CTCE: 3 PC). For more information, or to register, click here.   

Winter personal-lines newsletters are available for your clients

Now is the time to order your winter issue of Insights and Updates to send to your clients. This newsletter is perfect for your personal-lines clients and features the following topics: the risks of ride sharing; how to prevent ice dams; heating your home with a fireplace vs. traditional gas; the liability of sledding on private property; and travel during the busy holiday traffic. This newsletter, in which you also can include your agency’s privacy notice, can be personalized and sent through PIA Creative Services. For more information, contact dcramer@pia.org or call (800) 424-4244.  

PIACT’s Health Insurance Tool Kit

Many property/casualty insurance agencies include health and long-term care benefits as part of their books of business. Maybe you want to know how working with a navigator can help you expand your services. At the very least, every agency principal cares about health insurance for themselves, their families and their employees. Think PIA first. As your business partner, PIA has a cache of information you need to have on this universal topic for your agency’s well-being. PIA’s Health Insurance Tool Kit is available to PIACT members.  

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Last chance: PIACT offers Webinar on employee performance reviews

Agency managers: Annual review time is just around the corner, and compensation is the single biggest expense in an agency. Do you have competent staff and appropriate job descriptions? When it comes time to evaluate your staff's performance, is it something you enjoy or something you dread? Do you know how to seek good CSR candidates to hire? PIACT will hold Agency Staffing, Performance and Job Evaluations on Thursday, Oct. 2, from 10 a.m.-1 p.m. Led by Jonathan Persky, CPA, CIC, PHR, this course is not applicable for continuing-education credit. To register, click here. Can't make the live Webinar? No problem! Sign up and RSVP anyway and you will automatically get the replay.   

Additional upcoming PIACT Webinars

In addition to the Webinar on agency staffing, PIACT will offer the following Webinars in the next few months: E&O Hotspots … 2014 and Beyond^{^FF^UM} (Thursday, Oct. 16, from 10 a.m.-1 p.m., CTCE: 3 PC); Top Ten Personal Lines Endorsements (Tuesday, Oct. 21, from 10-11 a.m., CTCE: 1 PC); Ethics—Something Worth Pursuing (Tuesday, Dec. 2, from 10 a.m.-1 p.m., CTCE: 3 LRE); and Top Ten Commercial Lines Endorsements (Wednesday, Dec. 10, from 10-11 a.m., CTCE: 1 PC). ^{^FF^UM}—This course has been approved for E&O loss-prevention credit by Fireman’s Fund and Utica Mutual. Call the PIA E&O Department for details at (800) 424-4244. For more information or to register, click here.  

Employee separation agreements

Whether to offer a terminated employee a severance package in return for a release of claims depends on a number of employer-specific factors, such as employer policy, practice and employee relations philosophy. Providing severance in exchange for a release often can be a worthwhile investment, as the amount of severance generally is insignificant when compared to the cost of defending an employee claim. Severance agreements are particularly useful when the termination is a difficult one or the separated employee is viewed as the type of person likely to assert a claim; however, there are some important points to consider before using a separation agreement. To learn more about separation agreements or for a sample agreement, access QS90276 in PIA’s QuickSource library.  

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