Do the rates go up, and how can you keep them down for us ?

The rates are guaranteed for 15 months and then you will receive a renewal every 12 months after that. The renewal will be based on the demographics at the time such as average age and claims history.  For example, let’s say that when you started you have 5 employees with an average age of 40 and over the course of next 12 months with new hires, your average age is 50 then your rates will go up at the next renewal.  Claims usage also has a lot to do with rate changes, but what I have cynically found is that at every renewal, most insurance companies prepare about a 25 page report justifying why they need to increase your rates – whether deserved or not.  They are trying to sell a story. I also have stories.My job is to tell them why they should not raise the rates. For example if your claims experience was too high, I will find out why and if it was because 2 people abused the plan who are now gone, I will try to sell the story that the high usage will not continue because the abusers are gone and last year’s claims history does not represent what will likely happen in the future.  I have many stories.I can always threaten to move your group to another carrier who agrees with me.

My job is to represent you to them and not the other way around – as is the custom of many brokers and agents.

Contact Ron today at (604) 644-7662