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Wolf Administration Announces Workers’ Comp Insurance Rate Cut, Further Lowering Cost of Doing Business in Pennsylvania

first_img Press Release Boyertown, PA –Wolf Administration cabinet secretaries for the Insurance Department and Labor & Industry today announced Pennsylvania businesses will see another cut in workers’ compensation insurance rates while maintaining benefit levels for injured workers.Insurance Commissioner Teresa Miller and Labor & Industry Secretary Kathy Manderino made the announcement at an event at Global Advanced Metals in Boyertown.Workers’ comp insurance rates will drop 6.21 percent, effective April 1, reducing a key expense for many companies and saving Pennsylvania businesses an estimated $150 million this year.“This significant rate cut comes on top of reductions during my administration’s first two years, which improved our state’s standing across the nation for this cost of doing business,” said Governor Wolf. “Today’s reduction will further help business owners create jobs that pay in Pennsylvania and at the same time, maintain fair benefits for workers injured on the job, something that is vital for families’ financial well-being and peace of mind.”Today’s rate cut announcement comes following a national study released last November, showing Pennsylvania improved its standing among states in workers’ comp insurance costs under the Wolf Administration, dropping from 17th highest to 26th highest from 2014 to 2016.  The Oregon Department of Consumer and Business Services conducted the study comparing workers’ comp insurance rates for 50 selected employment classes based on methods that put states’ workers’ comp rates on a comparable basis with a constant set of state-specific risk classifications.Commissioner Miller said her department under Governor Wolf’s leadership is working to maintain a vibrant and competitive workers’ compensation insurance market, helping keep costs down.“More than 325 companies offer workers’ compensation insurance coverage in Pennsylvania,” Commissioner Miller said.  “This means employers are able to find attractive, cost-efficient options for this vital insurance.”The rate reduction follows the Insurance Department’s approval of the Pennsylvania Compensation Rating Bureau’s annual loss cost filing. These loss costs are used to determine the premiums businesses pay for workers’ compensation insurance. The premium savings for an individual employer will vary based on the employer’s risk classification, claims experience and other factors. Not all employers will see a decrease.This is the sixth consecutive workers’ compensation insurance cut in as many years, and brings the cumulative savings to $720 million for the past six years. Workers’ compensation insurance covers the cost of medical care and rehabilitation for injured workers, and lost wages and death benefits for the dependents of those killed in work-related accidents.The other important component of today’s announcement is that benefit levels have been maintained for injured workers.  Labor & Industry Secretary Manderino said certified workplace safety committees, overseen by her department, are key for both cost and safety.“Certified workplace safety committees help employers and workers keep safety top-of-mind at all times,” Secretary Manderino said.  “And those companies with a committee receive a five percent discount on their workers’ comp insurance premiums.”More than 11,220 state-certified workplace safety committees have been established since March 1994, protecting more than 1,463,000 workers. Additionally, employers with certified workplace safety committees have saved close to $604.2 million in workers’ compensation premiums. These savings in insurance costs are due solely to the five percent premium discount provided to businesses that have these committees.Global Advanced Metals has a long-standing certified workplace safety committee and won a Governor’s Award for Safety Excellence in 2016. Global is a leading manufacturer of high performance tantalum metallurgical and powder products to the electronics, aerospace, automotive, and chemical manufacturing industries.“Global Advanced Metals, Inc. is proud of our safety record, which is a reflection of the hard work and dedication of our workforce to our safety process.  This dedication to safety has been instrumental in our successful certification as an OSHA VPP Star site since 2008, as well as receiving the Governor’s Award for Safety Excellence,” said Mark Lackey, Boyertown Facility General Manager.  “We could not have achieved this level without the safety focus and effort from all of our employees and contractors.  It is great to see that our efforts and the efforts of many companies in Pennsylvania have contributed to real cost reductions for current and future businesses in PA.”Secretary Manderino added her department’s Bureau of Workers’ Compensation Health & Safety Division provides employers with the most up-to-date and relevant safety information and benefits possible for employees.  Employers should contact their insurance company or agent for more information about how their workers’ compensation premiums will be affected.More information on Pennsylvania insurance products is available at www.insurance.pa.gov.For more information on making Pennsylvania’s workplaces safer, visit www.dli.pa.gov, “Workers’ Compensation Services.” March 30, 2017 SHARE Email Facebook Twittercenter_img Wolf Administration Announces Workers’ Comp Insurance Rate Cut, Further Lowering Cost of Doing Business in Pennsylvanialast_img read more


Reiner denies funds ill-used

first_imgSAN JOSE, Calif. – Hollywood director Rob Reiner denied any wrongdoing Thursday in response to recent scrutiny about possible misuse of taxpayer funds for a June ballot initiative he is spearheading. Reiner, who heads the state’s First 5 California Children and Families Commission that he helped create, is now leading a campaign for a ballot initiative that would establish a state constitutional right to preschool for all 4-year-olds and raise income taxes for wealthier households to fund a preschool program. A Los Angeles Times story earlier this week detailed, however, how the commission spent $23 million in state funds on ads that promoted the benefits of preschool. The television ads aired this winter, coinciding with the “Preschool for All” campaign for Reiner’s initiative, Proposition 82. The commission also earlier paid for a political consultant who now is the campaign manager for Proposition 82, the story noted. 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECasino Insider: Here’s a look at San Manuel’s new high limit rooms, Asian restaurant Part of the commission’s charge is to oversee the use of tobacco tax proceeds toward promoting proper childhood development, but the state law prohibits use of public funds for campaign activities. Reiner’s attorneys have asserted that the First 5 ads were legal and proper, and Reiner himself on Thursday dismissed the Times story as “the price of being a public figure.” After a speech in San Jose on Proposition 82, Reiner was asked to comment about the money spent on the commission’s ads, and he contended, “There is absolutely no conflict of interest.” last_img read more