My specific focus at Aronson Insurance is on providing property/casualty insurance and risk management services for the construction industry. Many of the contractors that I deal with are unaware that they are eligible for The Massachusetts Construction Classification Premium Adjustment Program (MCCPAP), which can reduce an eligible employer’s premium if the employer’s average weekly wage is $18.00 or more per hour on average per construction employee.
Example of Eligible Classes Include:
Electrical
Plumbing
HVAC
Concrete Construction
Street Construction
Plastering
Masonry
Carpentry
Sheetrock Install
Iron/Steel Erection
Septic Install
Excavation
Fence
Roofing
Carpet
And more!
While the initial determination of any applicable credit is computed on a class-by-class basis, the credit (if any) will be applied to the employer’s entire Massachusetts modified premium in order to facilitate the carrier’s application of the credit. Credit percentages range from 5% ($18.00-$18.50 average hourly wage) up to 25% ($28.01 and over average hourly wage).
If you were not aware of this program, you could be losing out on literally thousands of dollars each year in premium savings!
Michael Kennedy is an Insurance Broker at Aronson Insurance in Needham, MA.