Insurex Announces Additional 15% Decrease in Workers’ Comp Rates

Insurex, a San Diego-based insurance brokerage, announces an additional 15.0 percent rate reduction on California workers’ compensation insurance effective Oct. 1, 2005 for affiliate agencies. The rate reductions are in addition to the 14.5 percent average rate reduction implemented in July 2005.

Independent agents who are affiliates of Insurex will be using its new web-based system to rate and qualify workers’ comp insurance for their clients in California. Most rate indications can be completed in less than 5 minutes.

“We are excited about the market potential for this product,” said Dan McCarthy, CEO, Insurex. “Research indicates that brokers have a substantial need for an efficient and highly responsive method of transacting workers’ compensation business, and the new Insurex on-line rating systems give agencies 24-hour access to these new rate reductions.”

Insurex provides a multi-state offering with more than 400 workers’ compensation programs. These programs can also accommodate employers with operations outside of California. In addition, Insurex can offer coverages to qualifying contractors and new ventures.

“These rate reductions are being offered to small and mid-size employers. Insurex carriers bring financial strength, superior service and competitive prices to this market segment. These businesses are the backbone of the California economy and we are pleased to provide this product offering,” explains McCarthy.

“We believe Insurex product offerings will set the standard in workers’ compensation. Providing quick and accurate rate indications is a driving force behind the development of the product, and utilizing our top-rated carriers allows us to bring this valuable offering to our appointed agents,” said McCarthy.

For more information contact Dan McCarthy, CEO, Insurex, at (619)229-7770 ext. 302.

Topics California Trends Agencies Workers' Compensation Pricing Trends New Markets