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Articles Tagged with premiums

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action-athlete-competition-158976-300x200At first glance, trainer Robertino Diodoro’s achievements in horseracing in New York should have made him a great success. Since early 2017, his horses have earned around $3 million, and he has won 69 races.

When asked if these wins have brought him money, his answer is simply: “I don’t think so.” The reason is how expensive it is to race horses in the state, especially factoring in the high cost of workers’ compensation insurance. New York has the highest workers’ compensation premiums in the country.
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cannery-row-71836_1920-300x225Salvatore Carbone, age 58, has pleaded no contest to a charge of workers’ compensation insurance fraud. He has been sentenced to 40 days in jail and three years’ probation. The judge suspended the statutory $10,000 penalty; it will remain suspended if he completes his probation satisfactorily.

Carbone operates and owns Sal’s Alley Side Café and Carbone’s Bar, in Monterey, California. Both locations opened in 2007 and are located next to each other on Monterey’s popular Lighthouse Street. In 2017, the Monterey County District Attorney’s Office received information that Carbone had lied to the State Compensation Insurance Fund (SCIF) about the number of people he employed. The Workers’ Compensation Fraud Unit investigated and confirmed that, for the period of August 2014 to August 2015, Carbone had fraudulently claimed he was the sole employee at Carbone’s Bar.
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coins-1523383_1920-300x200On December 1, workers’ compensation insurance rates in Delaware will drop by up to 10%. This marks the second year in a row where rates have decreased.

The Delaware Compensation Rating Bureau (DCRB) proposed a reduction in rates of 9.9 percent for the voluntary market. However, when Delaware’s Ratepayer Advocate and the Department of Insurance reviewed the proposals, they increased the reduction slightly. For the voluntary market, rates will be reduced by an average of 10 percent.
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