Transparency In Workers’ Compensation Premiums
Not everybody is extremely familiar with the Defense Base Act or Longshore laws. However, if the time comes where you or a loved one is injured working overseas for the government, you will become very familiar with them, very quickly. That is because these laws are your protection from delayed or denied benefits. As hard as you have worked, insurance companies may still do their best to keep you from receiving your entitled compensation. When that happens, you need a Defense Base Act attorney on your side, such as Kenneth G. Franconero, PLLC.
A strong bill has been proposed by the Illinois legislature. This measure would limit the premiums that workers’ compensation insurers could charge businesses. It would also do a number of other things, including clarify what constitutes a traveling employee, establish an employer/insurer contribution scheme for recovering amounts paid for certain injuries, establish a task force to study insurance and self-insurance data, and more. Overall, if enacted, the law would help injured workers, as well as small businesses (lower insurance rates).
In a less than surprising move, the American Insurance Association (AIA) has attacked the bill, claiming it would discourage competition and create a slower bureaucratic system. Unfortunately, what the AIA misses is that workers’ compensation rates have been traditionally set by the State Legislatures. Price has not been a factor in competition in the workers’ compensation market. Usually, good insurance companies can separate themselves with superior care and lower claims costs. In reality, the insurance companies just want free reign to charge high premiums.
In a perfect world, insurance companies would use their existing premium revenue to hire good adjusters, so that current ones could experience less case volume. Some are forced to handle hundreds of workers’ compensation claims each. But, as always, we take what the system gives to us, and work off that. If you have been delayed or denied your rightful benefits, you need a Defense Base Act attorney on your side. Kenneth G. Franconero, PLLC, is ready to fight for you and your loved ones. Contact him, today, and let him take a look at things with a free case review.
For more information visit https://www.defensebaseinjury.com or call (855) KGF-PLLC.