News & Notes

NEW PA WORK COMP CLASS CODE

The Pennsylvania Compensation Rating Bureau announced a new workers’ compensation classification. Beginning on April 1, 2023, Code 822 will apply to clerical employees who spend over 50% of their time telecommuting.

PCRB.com (see Circular No. 1785)

ANALYSIS OF MD WORK COMP SYSTEM

The National Council on Compensation Insurance this fall released reports on the Maryland Workers’ Compensation system. Review them for insights on key cost drivers, loss ratios, loss distributions, and state comparisons.

NCCI.com/articles/pages/ II_STATEADVISORYFORUMSTATE_ MD.ASPX

DE WORK COMP RATES DROP

The Insurance Commissioner in November approved the Delaware Compensation Rating Bureau’s amended rate filing. On average overall, residual market rates will change -19.72% and voluntary market loss costs will change -14.76% on a new and renewal policy basis as of Dec. 1, 2022.

DCRB.com (see Circular No. 1016)

NFIP FACES (ANOTHER) DEADLINE

As this issue of Primary Agent went to print, the National Flood Insurance Program (NFIP) once again faced a lapse. On Sept. 30 – just hours before it was last set to expire – President Biden signed legislation passed by Congress that extended its authorization until Dec. 16, 2022. This was the latest in approximately 20 last-minute, short-term extensions of the program since its most recent five-year authorization expired in 2017. Stay tuned to Agent Headlines for updates.

IA&B UNDERGOES STRATEGIC PLANNING

The IA&B Board of Directors and senior staff attended a two-day strategic planning retreat in November. Consultants of Minding Your Business – a firm that focuses specifically on helping associations thrive – led the future-focused discussion. Watch for exciting outcomes to benefit IA&B members in the months ahead.

IA&B Board members at November strategic planning retreat.