Workers Comp Audit Stress Reducer
Use It For Your Next Premium Audit

January 1 Renewal Date Can Cost you $ On Your Workers Comp Premium


January 1 Renewal Date Costly Choice

Usually, a January 1 renewal date will end up costing your company more in Workers Comp premiums.  Addressing this situation is one of the easiest ways possible to reduce your Work Comp premium. Renewing your policy on January 1st is akin to shopping on Christmas Eve or getting a tax professional’s help the week of April 15th.

Vector Graphic of January 1 Renewal Date Calendar

Understanding the insurance business cycle benefits all the players including the insured employers.

You may find a gift on Dec 24th or you may find tax help on April 14th, but you may not get the service you deserve as the merchants or tax professionals are overloaded at certain times of the year. It is the same with your Workers Compensation policy.

The majority of policies renew on January 1.   Agents, underwriters every department is completely overloaded then. If we have any issues where we need to contact an agent, we try to avoid them between today (12/10) and the end of the year. Everyone suffers, but who pays the bill for the possible inattention?

Of course, it is the policyholder. You are lumped in with most of the policyholders. In tracking our clients’ files, we find that 60% of them renew on 1/1. Why not use one of the 364 other days to give your agent and carrier time to spend on your policy?

Woman Holding Bundled Money January 1 Renewal Date Picture

We recommend in all our presentations and to our clients to also avoid July 1, when most of the public entities renew. We recommend renewing in the middle of the month if at all possible, and if your budget allows this to occur.

Strange, but true…………….

Up Next – A List of Red Flags that You May be Overpaying on your Workers Comp. This is one of our most requested Workers Comp documents.

©J&L Risk Management Inc Copyright Notice



James J Moore - Workers Comp Expert

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Management Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications


Get the latest workers' comp news FREE!

This field is for validation purposes and should be left unchanged.