The Board of Trustees evaluates loss projections every year to ensure premium rates are adequately set to respond to future claims experienced by the Trust’s members. Here is information about premium rates going into effect for property/casualty coverages renewing on or after Nov. 15, 2022, and for workers’ compensation coverages renewing on or after Jan. 1, 2023.

财产与意外险利率

What does property/casualty coverage include?

The Trust’s coverage is tailored specifically for Minnesota cities and related entities like HRAs, 联合权力组织, and other special districts and instrumentalities, and it’s generally broader than commercial policies. It includes coverage for things like loss or damage to city buildings, liability claims resulting from actions or incidents involving staff or elected officials, 土地使用, 下水道备用责任, 汽车责任和汽车物理损害, 以及与网络相关的索赔.

信托如何设定利率?

Rates are set at a level to generate enough premium to cover 1) projected administrative expenses for the program; 2) expected claim costs for the year based on actuaries’ calculations; and 3) a contingency margin to protect the Trust and its members from the possibility that losses will be higher than expected.

What do property/casualty rates look like for 2023?

财产与意外险利率 will increase by an average rate of 5%.

Specific rate changes by coverage are as follows:

  • 财产税将增加5%.
  • 负债率将提高5%.
  • 自动物理伤害增加5%.
  • 汽车责任率将提高5%.
  • Excess liability (optional coverage) rates will increase 15%.
  • No-fault sewer backup (optional coverage) rates will increase 20%.

其他变量呢??

Members should note their premiums will be affected by other individual factors such as changes in expenditures, 属性值, 工资, 经历评级, 和其他人. 联系 the Trust’s underwriting specialists for questions about your specific rates.

工人补偿率

什么是工人赔偿范围?

Workers’ compensation provides coverage for members that have employees who are injured while in the course and scope of employment.

信托如何设定利率?

Rates are set at a level to generate enough premium to cover 1) projected administrative expenses for the program; 2) expected claim costs for the year based on actuaries’ calculations; and 3) a contingency margin to protect the Trust and its members from the possibility that losses will be higher than expected.

2023年的税率变化是什么?

工人补偿率 will increase by an average of 3% for renewals occurring in 2023. There will be an additional rate increase of 3% for the volunteer firefighter job class (for a total 6% rate increase), because rates for this class of employees is based on population served, which does not increase with inflation in the same manner that 工资 does. Payroll is the rating base used for all other job classes.

Members and agents can contact their underwriter for member-specific details.

其他变量呢??

Individual member premiums for the workers’ compensation program will also be affected by other factors like changes in member expenditures, 非农就业人数, 经验费率, 以及其他暴露措施. It’s especially important to keep an eye on your experience mod if budgeting for workers’ compensation premiums.

Learn how 经历评级 are used to adjust members’ future premiums

What role does PTSD play in workers’ compensation rate increases?

PTSD claims now make up about 31% of the Trust’s annual workers’ compensation claim costs, with most of that arising from police claims. The majority of PTSD costs are attributable to covering lost wages for employees who do not return to work after their diagnosis.

What is the Trust doing to address PTSD costs?

The Trust understands pressures on city budgets faced with rising premium rates. The Trust and its members have taken a leading role — along with public safety professional organizations, other local government insurance pools across the country, and other significant stakeholders — to address workers’ compensation costs associated with PTSD.

基金会的创伤后应激障碍专家, 2020年招聘, continues to work with Trust staff and external stakeholders on outreach and educational efforts with members to promote PTSD prevention and treatment among public safety personnel. The 明尼苏达城市联盟 will continue to seek workable state legislative solutions that would relieve pressure on the workers’ compensation system.

会员可以做什么??

In addition to the financial burden posed on the workers’ compensation system, PTSD has a dramatic impact on law enforcement staffing, 部门的士气, and the well-being of affected employees and their families, 朋友, 和社区. 有关预防疾病的建议, 认识到, and acknowledging PTSD within your city’s law enforcement and first responder communities, 请访问信托基金 创伤后应激障碍和心理健康工具包.

Understanding and implementing the action steps described in these resources can play significant roles in mitigating costly PTSD claims. Even more important, it will help return injured employees to a full and healthy life.