Another big California workers’ compensation rate reduction is coming, effective mid-year 2018. This will be the seventh straight decrease, with the last reduction taken January 1, 2018.

This past week, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) approved and released the pure premium rate filing, effective July 1, 2018. This rate reduction has not yet been approved by the California Department of Insurance, and is open to a public comment period and hearing.

With every product we buy comes an expected cost and a value proposition. Our individual purchasing decisions are always based on more than cost alone.  Hence, “Is the protection plan worth it?” is in the eye of the buyer.

On March 18th a transportation network company’s (TNC) self-driving car hit and killed a woman in Arizona. This crash brings up insurance questions similar to those generated by the December 31, 2013 fatal accident that first brought the issue of ridesharing and insurance into the spotlight. Transportation network companies wanted personal insurers to cover the exposure, but insurance industry trade groups believed commercial insurance should apply from app on to app off. This led insurance trade groups, insurers and TNCs to develop a compromise model bill. Since then, 48 states and the District of Columbia  have enacted TNC legislation. It also prompted insurers to create new products for TNC drivers.

I’ve been known to frequent Europe on a regular basis and even have an app on my phone that tracks the places I’ve visited. I enjoy seeing the world’s major cities and indulging in the regional cuisine. A very popular Polish dish is the pierogi – a dumpling filled with a variety of vegetables or meat. You can even fill one with blueberries for dessert.

Holiday shopping season is here, and so are all the deals. Psychological pricing strategies are implemented in transactions running the gamut from consumer goods to real estate and insurance. Buyers’ perceptions of value can be affected simply by the way a price or discount is presented.