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Pacific Automotive Recyclers & Machining Association, Inc. is an association dedicated to assisting after-market automotive industry professionals run their business.  We provide many services to our members and strive to make your experience a "One phone call" situation.  Business moves fast today and we want to be a resource you can count on!

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May 29, 2009

Dear Association Partner: 

    State Compensation Insurance Fund today announced it has filed an increase of 15 percent in collectible premium. The revised rates will apply to new and renewal workers’ compensation policies effective on or after July 1, 2009 and is an average across all classifications. While the rates for some classifications will undoubtedly increase, many will be lower than the average.

    The primary driver for the rate increase is medical inflation. The latest reports from the Workers’ Compensation Insurance Rating Bureau show that medical treatment costs have increased 16 percent annually since 2005. As a result, State Fund is increasing its rates to account for the rising costs.

    State Fund takes a conservative, long-term approach to pricing.  It is important to remember that State Fund premium levels have fallen significantly since 2003, when Governor Schwarzenegger implemented policy reforms that lowered premiums, and even after this increase will still be 46 percent below pre-reform levels.

    Because we are a vital provider of workers’ compensation insurance in California, State Fund is committed to maintaining its financial strength and open door policy of serving California’s small and large businesses across all industries.  State Fund continues to offer merit rating, claims-free credit, group and premium discounts to underwrite individual accounts.

    We are still the one carrier that can meet all the needs of your association and provide you with high caliber safety and claims programs to help you serve your members.

Regards,

Lauren Mayfield

Lauren Mayfield

Senior Vice President of Marketing