Today’s issue of WorkCompRecap features the announcement from Eastern Alliance Insurance Group that their ParallelPay “pay-as-you-go” premium plan reached a major milestone, exceeding $30 million in direct written premium for calendar year 2013, less than five years after the program’s introduction. ParallelPay was introduced in April 2009, and allows policyholders to pay their workers’ comp premium one payroll period at a time with no premium down payments, escrow or installment fees. Find out more by clicking here!
Also in the news today is Maine Governor Paul R. LePage, who recently announced that workers’ comp rates in the state will decrease by nearly 8%, the largest decrease since 1998, translating to savings of over $15 million for Maine employers in the coming year. Find out more by clicking here!