New Jersey and Pennsylvania unveil new rates

• New Jersey and Pennsylvania have released 2024 workers’ compensation temporary total disability benefit rates based on the statewide average weekly wage.
• The New Jersey Department of Labor has released the New Jersey Workers’ Compensation Rate Schedule.
• For 2024, the maximum temporary total disability rate has been raised to $1,131, and the minimum rate has increased to $302.
• The Pennsylvania Bureau of Workers’ Compensation has announced that for injuries sustained on/or after Jan. 1, 2024, the Statewide Average Weekly Wage or maximum compensation rate is $1,325. This new number represents a 4% increase over the maximum compensation rate for 2023.
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Louisiana approves rate decrease

• Louisiana Insurance Commissioner Jim Donelon approved the annual loss cost filing of the National Council on Compensation Insurance for a 9% reduction in workers’ compensation rates. The decrease will take effect in May 2024.
• Workers’ compensation rates have fallen consistently over the past two decades.
• Rates had a cumulative drop of -37% over the last five years, -49% over the last ten years, and – 66% over the past 20 years.
• The total Louisiana workers’ compensation insurance market in 2023 is estimated to have about $950 million in written premiums.
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Rochester woman is a victim of scam

• An 83-year-old woman from Rochester, New York, was scammed out of thousands of dollars over a fake workers’ compensation benefit program.
• A friend of the woman reached out to her via Facebook Messenger on November 13, about a workers’ compensation benefit program.
• The friend claimed he received $10,000 from applying for the program and recommended she also apply.
• That individual, later determined to be the scammer, directed the victim to get a $1,000 Apple pre-paid gift card to determine if she was eligible for the program.
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Firm wins award from insurer

• Channellock Inc., a toolmaker based in Pennsylvania, was recently recognized for employee safety by the firm’s workers’ compensation insurer, PMA Companies.
• The Risk Management Commendation Award goes to a very small percentage of PMA clients who demonstrate a strong commitment to employee safety, effective risk mitigation strategies, and contingency planning.
• Channellock’s ongoing safety initiatives and strong employee engagement have contributed to a significant reduction in workplace injuries resulting in fewer work claims over the past three years.
• Channellock has more than 350 full-time employees at its two Meadville facilities.
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