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CRMBC News Coverage

CRMBC Leads Charge Against Rising Insurance Costs for California Restaurants

CRMBC Leads Charge Against Rising Insurance Costs for California Restaurants

Dec 21, 2023 – CRMBC responds to increased insurance assessments for 2024 announced by the Department of Industrial Relations. CEO Kaya Stanley highlights the shift from a soft to hard market, emphasizing the need for strategic responses from brokers and restaurant owners. The article discusses the impact on brokers, including communication of rate changes and enhanced risk management, while encouraging restaurant owners to reassess insurance options and focus on safety measures.

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Balancing Longer Lifetimes and Workers' Comp Costs CRMBC Self Insurance California Restaurant Mutual Benefit Corporation

Balancing Longer Lifetimes and Workers' Comp Costs

Aug 14, 2024 – In this article, CRMBC CEO Kaya Stanley explores the impact of longer life expectancy on workers’ compensation costs. She discusses how medical advancements have extended claim durations, driving up expenses and creating ethical and financial challenges for businesses. Stanley offers strategies for balancing care quality with financial sustainability, particularly for industries like restaurants that are heavily affected by these trends.

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A business woman shaking hands with a business man during a meeting. CRMBC adds another member to bolster workers' comp strategies It has a workforce of 400 and operates four establishments

CRMBC Adds Another Member to Bolster Workers' Comp Strategies

Feb 20, 2024 – The California Restaurant Mutual Benefit Corporation (CRMBC) has welcomed the Tahoe Restaurant Group (TRG) as its latest member.

TRG operates four establishments in resort communities and has a workforce of 400. The company is known for its family-friendly, full-service casual dining.

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business hands holding dollar bank, Bookkeeper financial inspector checking a money

California Workers' Comp Brokers: Brace for Double-digit Rate Increases

December 19, 2023 – The California Department of Industrial Relations has announced a significant $1.7 billion increase in assessments for the fiscal year 2023/2024, affecting workers’ compensation insurers. As a result, brokers should prepare for an 11% rate hike in 2024. CRMBC highlights the necessity for strategic responses and comprehensive risk management consultations to navigate this shift from a soft to a hard market, impacting the state’s restaurant industry.
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CRMBC Achieves Remarkable 71.8% Revenue Growth with Strategic Leadership and Tailored Solutions

07/11/2024 – The California Restaurant Mutual Benefit Corporation (CRMBC) has announced a 71.8% increase in annualized revenue, growing from $10 million to $17.2 million. This growth reflects CRMBC’s commitment to exceptional workers’ compensation solutions for the restaurant industry. CEO Kaya Stanley attributes this success to the hard work of the team and the strategic leadership of the board.
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California Self-Insured Group Applauds Workers’ Comp Classification Changes Staff Attending Team Meeting In Empty Dining Room

CRMBC Achieves Remarkable 71.8% Revenue Growth

04/12/2024 – The California Restaurant Mutual Benefit Corporation (CRMBC) is welcoming the upcoming changes in workers’ compensation classifications for the state’s restaurant and hospitality sectors, effective September 1. Announced by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB), the update introduces six new classifications to better reflect the industry’s diverse operations and risk profiles.
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CRMBC Achieves Remarkable 71.8% Revenue Growth with Strategic Leadership and Tailored Solutions

CRMBC Achieves Remarkable 71.8% Revenue Growth with Strategic Leadership and Tailored Solutions

07/11/2024 – CRMBC, a leading workers’ compensation provider for California’s restaurant industry, announced a 71.8% revenue increase, rising from $10 million to $17.2 million. This growth underscores CRMBC’s strategic leadership and tailored solutions. CEO Kaya Stanley credits the dedicated team and new board members for their roles in this success.
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California Restaurant Captive Names New TPA Young couple having a lunch and drinking fresh squeezed juice in the restaurant

California Restaurant SIG Names New TPA

06/06/2024 – The California Restaurant Mutual Benefit Corporation (CRMBC) has appointed Pacific Claims Management as its new third-party administrator (TPA). CEO Kaya Stanley highlighted the importance of a TPA in maintaining group health, speeding claims closures, and improving financial performance. CRMBC, with 126 affiliates operating about 500 locations, saw nearly $20 million in member equity in 2022.
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ABOUT CRMBC

CRMBC is a California Self-Insured Group (SIG) formed BY restaurant owners FOR restaurant owners. Choosing to opt out of commercial insurance that uses premiums to boost their substantial profits and overhead, CRMBC is a group of business-savvy restaurant owners who joined forces to self-insure their work comp for sustainable cost savings.

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CRMBC is a California Self-Insured Group (SIG) formed BY restaurant owners FOR restaurant owners.
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