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7/1/2016 Mass Workers' Compensation Rate Change

The Commissioner of Insurance has approved a Stipulation for the general revision of workers’ compensation rates, effective 12:01 A.M., July 1, 2016, applicable to new and renewal policies.

The stipulation includes an overall average increase of 1.5% in the existing workers’ compensation average rates and will vary by class. Rating values in the Experience Rating Plan and the Retrospective Rating Plan will be revised, as well as premium credits in the Massachusetts Benefits Deductible Program and Massachusetts Benefits Claim and Aggregate Deductible Program.

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Jacquelynne Maloney at the Tonry agency has helped us immeasurably navigating the bonding process.  She took the time to get to know us and develop a complete picture of our company, our goals and objectives, our capabilities, our needs and the history of our company.  Her knowledge of the market allowed her early on to recognize what program would work for our company.  Other bonding agencies simply asked for a copy of our financial statement, balance sheet and work on hand.  They appeared to have no interested in whether we were making cupcakes or nuclear missiles.  Jacquelynne took the time to get to know us personally.  To her we were more than just our financial statement.

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Richardson Electrical Company, Inc.

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