I’m up here in GWN, Sole proprieter, working in reno and repair market, on the finishing side of things. Some cabinets, some countertops, trim and doors, drywall repairs, tile work, painting etc.
Been doing it for a number of years. Had WCB coverage for most of em- in three province, zero claims. Rates were always reasonable.
Now, here in Alberta, WCB rates went up from 2.89/100$ of insurable earnings, to 3.70 for 2002. for 2003, they are going up to 6.91/100, and the following year they are stated as going up to 9.40/100, but conversations tell me that they are going up even more.
That is a 325% increase over three years.
I ain’t against insurance, but this is now gonna cost me about twice what my contractors policy does, and ya, even though I have a contractors package, WCB is required by law, for some of my clients.
Ergo, I’m getting insurance poor.
I’ve had long discussions with the WCB underwriters, and yes I could get cheaper rates if I only did say, finishing carpentry, but as I do more than one task, I end up in the category I am in (but could appeal it)
I have said to them that there must be some fundamental error in their categorization as my experience with other sole Props doing essentially the same kind of thing as I do is that no-one has ever related filing a claim. Course, if they were dead, I never woulda met em.
I have pointed out that there rates are so far out of line with other insurance coverages that common-sense says to review their rate increases. They assure me that they have the acturial data to substantiate their rates. I’d go shopping, but they are the only party (mandated by law)
So what are the rates elsewhere for others in the same sphere of operations. I don’t do roofs, ain’t a logger, seldom go over ceiling height, no employees, no gas-fitting.
And if you happen to be here in Alberta, the WCB category is 40401- now called “construction trade services”
Thats the question in a nutshell. Thanks for the input