17 Workers’ compensation Environmental liability Rate trends Rate trends • Rates generally remained 昀氀at or in negative territory with • The market remains favorable with an average renewal seeing an increase of decreases of around -2% to -6%. 2%–5% for most classes of business. Site pollution polices coming out of a multi-year term along with combined form general liability/pollution policies could see higher Considerations/conditions increases in the 5%–15% range depending on operations. • Market competition is strong and most carriers are Considerations/conditions now willing to entertain monoline worker’s • Airports and companies with operations 昀椀nancial loss due to virus or disease, compensation coverage. in recycling, waste disposal, water coverage may again be available for • Some industry classes are still challenging, such as treatment, and certain types of loss from related operations. manufacturing continue to be the biggest contractors that work from heights, sta昀케ng, and mining. challenge with underwriters hesitant • Companies can expect to see • Workers’ compensation is still being leveraged to temper increased environmental justice to o昀昀er coverages previously available. initiatives at the federal and state general and automobile liability rate increases. Additionally, these industries will most levels moving into 2023. Previous likely face increased scrutiny from • New York dropped out of the National Council on national and state run environmental e昀昀orts were focused on setting the groundwork but moving forward. Compensation Insurance rating program e昀昀ective agencies with action plans being October 1, 2022, adopting their own experience developed to stop the use and begin Environmental justice considerations are expected to have an in昀氀uence modi昀椀cation methodology designed to reward strong remediation of emerging contaminants. risk management and penalize others. in permitting, compliance, and • California’s Senate Bill 216 was signed into law last • Carriers are beginning to soften enforcement decisions. Several September and requires certain licensed contractors to carry restrictions for communicable states including California, Colorado, workers’ compensation insurance, regardless of whether disease, bacteria, and virus when Michigan, and New Jersey are further they have any employees. Contractors impacted include requested as the potential impacts along in this e昀昀ort and may be looked concrete, HVAC, asbestos abatement, and tree removal. from COVID-19 become more to as an example for other states established. While environmental currently developing programs. coverage does not intend to cover