Premier NW Insurance is once again happy to be recognized by Nationwide for our continued role as one of Oregon’s leading writers of Agribusiness insurance.
FOR IMMEDIATE RELEASE:
DES MOINES, IA – Premier NW Insurance qualified for the Nationwide® Agribusiness annual FAST Track contest. This qualification is earned as a result of new farm sales and signifies their place among Nationwide® Agribusiness’ leading writers of farm insurance. While more than 6800 agencies write farm insurance for Nationwide®, only 72 qualified for the 2016 Fast Track Contest.
“Our FAST Track contest qualifiers represent an exceptional group of Nationwide® Agribusiness Farm agents who have shown a true focus and drive as it relates to new farm sales. These agents provide important advice and counsel to customers in a highly complex type of business. We value the partnership we have with each of these agents and appreciate the level of service they provide to the agriculture community,” said Dirk Pollitt, Vice President Agribusiness Sales, Nationwide®, the #1 insurer of farms in the United States.*
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; pet, motorcycle and boat insurance. *Based on 2016 SNL data based upon AM Best. For more information, visit www.nationwide.com.
Salem, OR—Oregon employers will see a key portion of their workers’ compensation costs drop by an average 6.6 percent in 2017, the Department of Consumer and Business Services (DCBS) announced today. This marks the fourth year in a row – and eighth year in the past decade – that businesses will experience an average decrease in the “pure premium.”
The average decrease in pure premium – the portion of the premium employers pay insurers to cover claims costs for job-related injuries and deaths – is part of a mixture of rate changes designed to invest in workplace safety and health programs while preserving historically low costs.
The other rate changes include:
• An increase in the premium assessment, which funds state costs of running workers’ compensation and workplace safety and health programs, from 6.2 percent to 6.8 percent. The increase is needed to invest in worker protection and related programs to keep pace with an expanding economy.
• A decrease in the payroll assessment, which supports the Workers’ Benefit Fund, from 3.3 cents per hour worked to 2.8 cents per hour. The fund pays for highly successful return-to-work and other special injured-worker programs. It is financially stable to the point that a reduction in the assessment is warranted.
The combination of the changes in pure premium rates and assessment rates is a net reduction in costs for the average employer. The average employer would pay $1.02 per $100 of payroll for claims costs and assessments, down from $1.10 in 2016.
“These rate changes preserve the integrity of our workers’ compensation system,” said Patrick Allen, DCBS director. “They do so by helping maintain a positive business climate for Oregon employers while also bolstering worker protections and benefits.”
The decrease in pure premium is based on a recommendation from the Florida-based National Council on Compensation Insurance Inc. (NCCI), which analyzes industry trends and prepares rate recommendations for the majority of states. Pure premium reflects only a portion of workers’ compensation costs, but is the key factor behind annual cost changes. The decrease is an average, so an individual employer may see a larger decrease, no change, or even an increase depending on the employer’s own industry, claims experience, and payroll. Also, pure premium does not take into account the varying expenses and profit of insurance companies.
The decrease in the pure premium is effective Jan. 1, 2017, but employers will see the changes when they renew their policies in 2017. The changes to the premium and payroll assessments are effective Jan. 1, 2017.
Workers’ compensation pays injured workers for lost wages and medical care for job-related injuries. A steady decline in average medical care costs and stable wage replacement costs are the key factors continuing to drive down the pure premium.
Oregon’s workers’ compensation premium rates have ranked low nationally for many years. Only seven states and the District of Columbia had average rates lower than Oregon in 2014, according to a biennial study conducted by DCBS. In contrast to changes made in some other states, Oregon has seen no meaningful reduction in worker benefits since at least the early 1990s.
*Public hearing set for Monday, Oct. 17, at 8:30 a.m. at the Labor and Industries Building, Room 260, in Salem.
**Public hearing set for Friday, Sept. 23, at 3 p.m., at the Labor and Industries Building, Room 260, in Salem.
The Department of Consumer and Business Services is Oregon’s largest business regulatory and consumer protection agency. For more information, visit http://www.dcbs.oregon.gov/.
Employers who insure with SAIF may be eligible for two dividends this year: one based on premium, and another tied to safety performance.
September 14, 2016
Contact: Lauren Casler | laucas@saif.com | 503.373.8615
When it comes to workers’ compensation, safety pays the best dividends. The reason is simple—costs remain low because accidents and injuries are avoided in the first place.
To underscore this point, the SAIF Board of Directors today declared two dividends for customers: a $120 million primary dividend to be paid to all eligible policyholders based on their premium, and a new, $20 million safety performance dividend to be paid based on each policyholder’s safety results.
“The safety performance dividend creates an important incentive for policyholders to maintain and improve safety,” said President and CEO Kerry Barnett. “It advances our mission to make Oregon the safest and healthiest place to work.”
This is the seventh year in a row SAIF has returned a substantial dividend to its customers, but it’s the first time since 2000 SAIF has rewarded safety performance through a dividend. The safety component will be distributed on a graduated scale based on the policyholder’s losses and premiums, with the greatest amount paid to those with the best safety results as measured by paid losses to standard premium.
Together, the dividends represent a return of approximately 22 to 26 percent of premium that eligible customers paid in 2015. They are possible because of SAIF’s overall financial results, including investment returns and favorable trends in claim costs.
“We’re able to pay dividends because of strong financial results, and the best driver of those results are the injuries that don’t happen as Oregon workplaces become safer and healthier,” Barnett said. “More importantly, safety and health programs have helped thousands of workers avoid the pain and anguish of a workplace injury. That’s the best dividend of all.”
More than 46,000 customers are eligible for SAIF’s primary dividend. Of those, about 95 percent are also eligible to receive all or part of the additional safety performance dividend.
Checks will be mailed in October to those who are eligible for the dividends.
About SAIF
SAIF is Oregon’s not-for-profit, state-chartered workers’ compensation insurance company. Since 1914 it has been caring for injured workers and helping to make workplaces safer. For more, visit the About SAIF page on saif.com.
Premier NW Insurance is growing and we are looking to add an experienced Account Executive to our Commercial Lines team in our Salem branch office. We are an independent agency with a strong emphasis on customer service. We value our clients and our staff and have long-term relationships with both. We are not a large downtown shop. We are a team of down-to-earth individuals who enjoy making a difference for our clients.
DUTIES OF THE POSITION:
– Processing carrier paperwork including endorsements, renewals, cancellations
– All aspects of customer service
– Maintaining up to date and accurate client files in the agency management system
– Issuing Certificates of Insurance and ID Cards
– Quoting and issuing new business
– Creating Proposals and Premium Breakdowns
– Gather renewal updates/changes from the clients and report to carriers
– Establish and maintain excellent relationships with the customers
– Keep up to date with industry changes and laws
DESIRED TRAITS / SKILLS:
– Current P&C License with 3 years of industry experience
– Typing speed of 50+ wpm
– Ability to self-motivate without need for supervision
– Ability to prioritize and manage workflow efficiently for maximum productivity
– Knowledge of Microsoft Office Suite of products
– Experience with Applied (TAM) management system is preferred but not necessary
– Ability to foster a team cooperative environment
Our agency offers a comprehensive benefits package including health insurance, dental, LTD, 401k, flex spending account, paid vacation and bonuses.
To apply, please email a cover letter, resume and references to mjohnson@premiernw.net. Resumes will be reviewed and qualified applicants will be contacted to schedule an interview. Compensation will be based on experience.
If you are currently one of the 15,000 people affected by this news and need assistance finding replacement coverage, please contact our office. We have many plan options available and can help walk you through the complicated enrollment process.
Health Republic Insurance, one of two federally created Consumer Operated and Oriented Plans in Oregon, won’t offer plans in 2016 and is winding down operations, it announced today.
The decision comes after the federal government announced if would pay only 12.6 percent of what is owed to insurers under the “risk corridor” program. The decision has a negative financial impact of more than $20 million on Health Republic, CEO Dawn Bonder said, in a statement.
All current Health Republic individual and small group policies “remain in full effect through the end of 2015,” the company announced. The Lake Oswego-based health insurer has nearly 15,000 members, including employees from more than 800 small businesses.
“Since our inception in 2013, Health Republic designed and priced all our plans in reliance upon the risk sharing guarantees of the Affordable Care Act,” Bonder said, in a statement. “This has placed us in a difficult financial position that could jeopardize our members and partners. As a result, we believe the most ethical step is for Health Republic to refrain from entering the market in 2016 and begin an orderly wind down of business.”
Health Republic said it will work with the Oregon Insurance Division to “ensure a smooth transition” and will pay all claims through 2015.
The risk corridor program, which came up far short of the money insurers are owed, also hit Moda Health particularly hard.
One-third of the CO-OPs created under the ACA have failed, including those in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado.
There were 23 CO-OPs created in 2011 at a cost of $2.4 billion in order to ensure that consumers had plenty of choices and a direct voice in their insurance plans. Oregon was the only state with two CO-OPs, Health Republic and Oregon’s Health CO-OP.
Even with other CO-OPs around the U.S. starting to fail over the summer, Bonder wasn’t too worried.
“My pro formas had us always using money first two and a half years,” Bonder said in late August. “I scratch my head to figure out why it’s such a shock to folks that CO-OPs aren’t making money.”
And in late September, she said the company was “growing steadily and sustainably.”
Salem, OR—In 2016, Oregon workers’ compensation costs will decrease an average 5.3 percent, the Department of Consumer and Business Services (DCBS) announced today. This marks the third year in a row – and eighth year in the past decade – that Oregon businesses are seeing an average decrease.
The department approved the average decrease in “pure premium,” which is the portion of the premium employers pay insurers to cover anticipated claims costs for job-related injuries and deaths.
Workers’ compensation pays injured workers for lost wages and medical care for job-related injuries. A four-year decline in average medical care costs and stable wage replacement costs are the key factors continuing to drive down the pure premium.
“Keeping workers’ compensation costs low contributes to a healthy business climate for Oregon employers,” said Patrick Allen, DCBS director. “Oregon is unique in achieving these low costs while also maintaining strong benefits and programs for injured workers.”
The decrease is based on a recommendation from the Florida-based National Council on Compensation Insurance Inc. (NCCI), which analyzes industry trends and prepares rate recommendations for the majority of states. Pure premium reflects only a portion of workers’ compensation costs but is the key factor behind annual cost changes. The decrease is an average, so an individual employer may see a larger decrease, no change, or even an increase depending on the employer’s own industry, claims experience, and payroll. Also, pure premium doesn’t take into account the varying expenses and profit of insurance companies.
The rate decrease is effective Jan. 1, 2016, but employers will see the changes when they renew their policies in 2016.
Oregon’s workers’ compensation premium rates have ranked low nationally for many years. Only seven states and the District of Columbia had average rates lower than Oregon in 2014, according to a biennial study conducted by DCBS. In contrast to changes made in some other states, Oregon has seen no meaningful reduction in worker benefits since at least the early 1990s.
In addition to any change in pure premium, other workers’ compensation costs reviewed annually by the department include:
• An assessment on workers’ compensation premiums to fund the state costs of running workers’ compensation and safety and health programs.
• An assessment on hours worked to fund Oregon’s highly successful return-to-work programs that help injured workers return to work quickly and earn close to their pre-injury wages. This assessment also provides increased benefits over time for workers who are permanently and totally disabled, and gives benefits to families of workers who die from workplace injuries or diseases.
Approximately 23 to 27 percent of the premium employers paid in 2014 will come back to them when checks are distributed in October.
When thousands of companies all focus on health and safety, good things happen.
Due to a joint effort between SAIF and its policyholders to make workplaces healthier and reduce on-the-job injuries, more than 47,000 Oregon employers will receive a dividend in October.
SAIF’s Board of Directors announced the $120 million dividend today. It amounts to a return of approximately 23 to 27 percent of premium that eligible customers paid in 2014.
“The most important dividend is the one received by workers who aren’t suffering the pain and anguish of a workplace injury,” said President and CEO Kerry Barnett. “Our employers have earned this by making their workplaces safer and reducing the costs of on-the-job injuries.”
“Our goal is to make Oregon the safest and healthiest place to work, and this is another sign that we’re headed in the right direction,” he said.
The dividend is possible because of SAIF’s overall financial results, including investment returns and favorable trends in claim costs. In recent years, there has been a particular emphasis on overall worker health and wellness, which is closely connected to prevention of workplace injuries.
Approximately 85 percent of the 47,000 employers who will receive dividends are small businesses. SAIF board chair Jenny Ulum said small businesses and their workers will especially appreciate the dividend because they often have less ready access to capital to seed growth or invest in additional safety measures.
This is the sixth year in a row in which SAIF has returned a substantial dividend to its customers.
About SAIF
SAIF Corporation is Oregon’s not-for-profit, state-chartered workers’ compensation insurance company. Since 1914 it has been caring for injured workers and helping to make workplaces safer.
Premier NW Insurance is currently searching for a Producer to add to our successful B2B sales team at our Salem branch office. Premier NW is a locally owned, customer focused organization that provides Producers with the flexibility and support necessary to achieve their financial goals. Our agency has an outstanding reputation for professionalism, integrity and providing top tier advice and solutions to our clients. Our Producers have access to the leading insurance companies in the Northwest.
For those looking at insurance sales as a new career or as a first time career decision – insurance sales is an often misunderstood and under-appreciated profession. The most effective insurance Producers develop a close, personal relationship with their clients and become an important resource to them in the successful operation of their business. Compensation potential is unlimited and is directly related to the efforts and success of the Producer. Insurance Producers have a significant advantage in that insurance is a recession resistant industry.
We currently have opportunities available in our Clackamas and Salem branch offices. Whether you are an experienced Producer or are interested in making a career change, we have the resources and positive agency culture to enable your success.
We are looking for outstanding people with the following traits:
•Outgoing personality with the ability to develop close relationships with clients
•Strong work ethic, self-motivated with effective time management skills
•Ability to work effectively in a team oriented collaborative environment
•Strong community ties
•Ability to quickly learn and understand market dynamics affecting the businesses of our customers
•Ability to assess and analyze customer needs and develop recommendations
•Above average written and oral communication skills
•Capable of working with owners and senior management of businesses
•B2B sales experience
•Ability to build a successful referral network
We are willing to provide in depth sales and insurance product training to the right individual. We have resources available through our insurance company partners and agency mentorship to help ensure your success.
This is an excellent opportunity for sales minded individuals. Our producers enjoy a recurring revenue stream from their clients with strong new business incentives. Base compensation plus commission is provided to assist while building your client base. We offer favorable commission percentages for both new and renewal business and full vesting opportunity to our sales staff.
Premier NW Insurance is not a call center. We are not a captive agency who will place unreachable goals on you each year. We are a growing, family owned agency who cares about our customers and our staff.
If you have an interest in joining a successful locally owned agency with unlimited compensation potential, please contact Mitzi Johnson at mjohnson@premiernw.net.
Premier NW Insurance has been selected for membership in the Safeco Premier Partner Program, which recognizes the outstanding achievement and partnership of only the best agencies.
Fewer than 10% of independent insurance agencies that sell Safeco personal lines products receive this distinguished honor.
At Premier NW Insurance, we are pleased to be among the top agencies in the country!
As a member in the Safeco Premier Partner Program, Premier NW Insurance will receive access to special resources and programs that will support us in serving our customers even better with expert advice.
We strive to provide our customers with trusted guidance, so this Safeco honor makes us proud.
Please join us as we help celebrate the 46th annual NW Ag show, January 27th – 29th, at the Portland Expo Center. Everything for every farmer under one roof! Stop by our booth (D437) for your free Premier NW Insurance baseball cap. This year’s show promises to be memorable with 51 new exhibitors and everything from ag drones to wine tasting! For more information, please visit the NW Ag Show on Facebook at:
