CompWest Quarterly Q2 2019
Second Quarter 2019
We had the privilege of awarding an incredible group of agents during this year’s Agent Meeting Road Show, April 8-11. Marking the first year of our agent awards program, we recognized the best of the best for their outstanding production and partnership.
2018 CompWest Agency of the Year
Congratulations to the first ever CompWest Agency of the Year, HUB International! CompWest recognizes HUB as a consistent advocate and engaged partner. They pursue our appetite while advocating the strength of our Business Development, Claims, Loss Control and Keep at Work teams, and the results are tremendous growth in production and profitability. HUB wrote nearly $4.7M of new business in 2018, ending the year with more than $9.3M. Since the CompWest turnaround (2013), HUB’s book has generated a 79.4% combined ratio, generating more than $6.2M of underwriting profit.
Congratulations again to HUB International for earning the 2018 CompWest Agency of the Year Award and congratulations to all other 2018 agency award winners! Your efforts make the difference and we celebrate your well-deserved recognition.
Agency Partner of the Year
- Danielle Dweck (HUB)
Outstanding First-Year Awards
- Beach and O’Neill Insurance Associates
- CKFIS dba Cal-Kor Insurance Services
- ALERA – ARR Insurance Agency, LLC
- Coremark Insurance Services
- George Petersen Insurance Agency, Inc.
- Leaders Choice Insurance Services, Inc.
- Teague Insurance Agency
- Vantreo Insurance Brokers
President’s Club Awards
- George Petersen Insurance Agency, Inc.
- Heffernan Insurance Brokers
- HUB International Limited
- March & McLennan Insurance Agency, LLC
- Midwestern Insurance Alliance, Inc.
- Rancho Mesa Insurance Services, Inc.
- United Agencies, Inc.
We are continually grateful for the true partnership of our agents and we look forward to recognizing such dedicated partners year after year.
To download the 2019 CompWest Road Show meeting presentation and view 2018 results, please visit compwestinsurance.com/agent-news/road-show.
CompWest is immediately accepting submissions for 23 new class codes in the second phase of our three-part class code expansion. This is CompWest’s largest class code expansion and the sixth consecutive year our appetite has grown.
Phase 2 Class Codes
The following California classes (and their NCCI) equivalents are available for submission immediately:
- Concrete construction
- Concrete or cement work
- Elevator erection or repair
- Elevator service inspections
- Insulation work
- Irrigation pipe installation
- Reinforcing steel installation
- Steel framing
- Termite control work
See all available construction class codes – download our construction segment guide.
- Advertising companies
- Camps – recreational or educational
- Community health and wellness clubs
- Mail Delivery service companies
- Pest control
The following phase 1 classes were rolled out in May:
- Ice manufacturing and dealers
- Mortgage brokers
- Banks and credit unions
- Insurance companies
- Law firm support services
- Newspaper publishing, printing and delivery
- Fast-food restaurants (minimum premium of $10,000) and cloud kitchens – which prepare meals for delivery-only restaurants whose patrons order via apps or telephone
Stay tuned for new manufacturing class codes in August!
We appreciate your partnership in our continued growth and look forward to new opportunities that will serve your book of business.
Please contact your business development consultant with questions or for more information.
2018 was a remarkably successful year for CompWest and the AF Group enterprise. We, again, achieved unprecedented outcomes through partnership with agents like you. To learn how the enterprise and each of our brands performed, we encourage you to review the 2018 Annual Report.
Thank you for your consistent support and dedication – you have played a significant role in helping us achieve ongoing success. We look forward to your continued partnership.
You asked and we listened! Effective immediately, your agency’s agent inbox email address will be copied on all AccuPremium notifications sent to customers. After issuance, AccuPremium customers receive an email notification to register and will receive additional notifications if their account experiences any of the following:
- Late payroll (never reported/previously uploaded) – sent if payroll is not uploaded by the three-day grace period of their selected reporting date.
- Insufficient funds (first occurrence) – sent when initial draft for payment is unsuccessful – to inform customer we will be drafting for funds one more time.
- Insufficient funds (multiple occurrences) – sent to notify insured that the second draft for funds was also unsuccessful. Customer will need to review and correct any mistakes in banking information on file.
- Bad account – sent when unable to withdraw funds from customer’s ACH draft account – usually when the account is closed or frozen.
- Missing authorization – sent when an attempted ACH draft is returned “not authorized.”
- Account/system error – sent when the account number or routing number is incorrect. Customer will need to review and correct any mistakes in banking information on file.
- Re-attempt to collect – sent to inform customer that we will attempt to draft payment again after prior draft has been returned.
- Corrections – sent to notify customer that a correction has been made to their account.
Customer Tips – AccuPremium Payroll Reporting
To increase customers’ ease of reporting payroll, this help sheet will be included in the welcome email after policy issuance. The included tips can help customers avoid premium due once the audit is complete. Existing AccuPremium customers will also receive the tip sheet via email. For questions about class code classifications, please contact Premium Audit at 888-266-7937.
Click here for a list of our top 10 written class codes during the past six months in both our Southern and Northern California regions.
Please contact your business development consultant with questions or to learn more.
CompWest Loss Control Consultant II
Northern California and Central Valley
Fredrick McPherson has been in the industry since 1989. He has a Bachelor of Science in organizational management from Patten College. Fredrick has experience in manufacturing, healthcare, agriculture and construction. His focus is educating and motivating employees to work safely, through energetic and informative trainings and an emphasis on real-world benefits.
The workers’ compensation legislative environment is currently calm. Recent rate decreases are at an all-time low for the first time in more than 20 years. With a healthy marketplace, employers will be allowed to grow their employee base, improving the economy. But as the market prospers, there are pending legislative and regulatory issues now and, on the horizon, receiving our attention.
The United States Senate Committee on Banking, Housing and Urban Affairs held a hearing recently entitled, “The Reauthorization of the Terrorism Risk Insurance Program.” Congress made several improvements to the program during the 2015 reauthorization and it ultimately garnered overwhelming bipartisan support in the Senate with a vote of 93-4. The program is set to expire on Dec. 31, 2020. AF Group will work with industry allies over the next 18 months to execute a lobbying strategy aimed at securing reauthorization prior to the expiration of the Act.