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2010 SUMMER MEETING IN NEWPORT
The 2010 NYSEC Summer Meeting has been booked at the vibrant and
historical summer hot-spot of Newport, Rhode Island.
We have selected the majestic Hotel
Viking, which is situated in the famous mansion district- just a few
blocks walk to all the waterfront action. The dates are
Sunday July 18 - Wednesday July 21, 2010,
with a number of rooms blocked for early arrival on Saturday the 17th.
This is a new destination for the Association- we look forward to
enjoying all that the Newport area has to offer!
VICTORY FOR WC TRUSTS
50-5f
assessments ruled unconstitutional
Acting State Supreme Court Justice Kimberly A.
O’Connor ruled April 14, 2010 that the NYS Workers'
Compensation Board can no longer raise its
assessments on self-insurance groups to make up for
the unfunded liabilities of a series of defaulted
self-insurance trusts.
13 First Cardinal groups, including our ELEC-CON
TRUST, sued the State after receiving bills for
unrelated trust defaults back in early 2008.
These liabilities are currently estimated at over
$450 million, and were by law transferred to the
self-insurance industry. That law has now been
overturned on constitutional grounds, representing a
tremendous victory for our former trust members.
OSHA requires firms
with 11 or more employees to record injuries during the 2009
calendar year on the 300 log, and then post the summary form 300A for
the period February 1 to April 30, 2010. Note that it is not necessary
to record cases where only first-aid was rendered. If there were no
injuries, form 300A must still be posted (indicating zero’s and signed
by an officer).
Note that form C-2,
used to report workers’ compensation claims, is helpful when completing
the 300 log. The C-2 is also an allowable substitute for OSHA form 301.
Incidents involving
one or more fatalities, or hospitalization of 3 or more employees from
the same incident must be reported within 8 hours to OSHA at
1-800-321-6742.
If you have any
questions regarding the enclosed, please feel free to contact the
Association office.
NOTE: The Standard
Classification Code for Electrical Wiring is 1731.
NYSEC WORKERS COMP GROUP
Fully-insured group program without the potential liabilities of
self-insurance.
NYSEC retains its
partnership with CardinalComp to offer a workers' compensation safety
group (not related to State Insurance Fund) designed specifically for
our NYSEC electrical contracting membership. The group provides
competitive up-front pricing, outstanding claims handling, superior
customer service and
potential dividends.
Coverage through the group may now be extended to your operations
outside New York, including PA, NJ, VT, CT and MA.
The NY Compensation Rating Board has announced an
average "loss cost level" rate increase of 4.5% effective with policies renewing October
1, 2009 and after. Changes to individual classification codes will
vary based upon industry experience. The NYS Assessment charge
will be increased from 13.4% of premium to 14.2%.
The rating system involves the
calculation of just the loss component of rates, and each industry
classification will have a state determined loss cost. Carrier
profit and overhead are no longer contained within the manual rates
calculated by the state, rather each carrier will file a "loss cost
multiplier". The loss cost rate, multiplied by the
loss cost multiplier will yield the total rate charged by the carrier.
Each carrier's final rates will vary based upon their approved
multiplier.
The new "Loss Cost" rate for Code 5190- Electrical Wiring is
4.04, a 0.7% increase from the current rate of 4.01. The "Loss Cost" rate for Code
5191- Low Voltage is 1.21, an increase of 21%.
The Association's workers' compensation group will
be incorporating these new rates upon renewal. If you would like further information on Workers'
Compensation rates and reforms or a quote from the
Association's Workers' Compensation Group, contact Jay Mangione at
the Association office.
PROPERTY & LIABILITY GROUP
NEARS $4 MILLION
Interest running high in this members only
program!!
The State Association has partnered with
Harleysville Insurance
Company and Cool Insuring
Agency to offer a property and liability group. The
program is tailored to specifically address electrical contractor
coverage issues, and offers an additional discount for State Association
members.
Those currently insured with Harleysville should
speak with their broker to learn of the additional benefits and savings
available through the group. Quotes and further information may be
obtained by visiting
electrical
contractors group.
•Scholarship Awards Program
The New York State Association of
Electrical Contractors Scholarship Awards Program is funded
by NYSAEC and by contributions from our members. Use the link
below to download and/or print the application.
The New York State
Association of Electrical Contractors
is located at:
16 Wade Road
Latham, NY 12110
TEL 800.724.1904
FAX 518.785.0912
MISSION STATEMENT:
The New York State Association of Electrical Contractors, founded in 1899, is dedicated to promoting the exchange of information and ideas, fostering of business relationships and networking opportunities, development of group business and insurance programs, and the advancement of State legislative interests common among all member firms in the electrical contracting and related industries.
