Because SUNZ is a national workers’ compensation carrier, we ensure our team stays updated on insurance policies and procedures across all states and jurisdictions where we sell insurance and, most importantly, where our clients businesses and operations are impacted.
For example, in Pennsylvania, the Insurance Commissioner recently approved a new filing (PCRB No. 311), which implements a revised methodology to calculate workers’ compensation loss costs for all temporary staffing risks for policies effective 12:01 a.m., April 1, 2021 or later.This modified methodology calculates loss costs for temporary staffing risks by applying factors to the associated direct employment class loss costs. The loss costs for the temporary staffing codes were calculated on a revenue-neutral basis relative to the temporary staffing loss costs approved in the April 1, 2020 annual loss cost filing.
Our research has shown that the primary reason for this change is to improve the overall consistency and accuracy of the loss costs between the direct employment class codes and the associated temporary staffing class codes. As temporary staffing data has been continually collected and monitored over the years, the experience has indicated that there is a meaningful and consistent difference between these exposures. The revised approach creates individual temporary staffing class codes to allow the experience of each temporary staffing class to be more directly considered when calculating their loss costs.
For more information on this new filing, click here.