Bureau: 2021 Workers’ Comp Rate Increase

The Workers’ Compensation Insurance Rating Bureau’s governing committee members approved a filing that will boost 2021 pure premium advisory rates by 2.6%. The filing would have been a 1.3% decrease but for the Bureau’s new COVID surcharge. It is 4.6% higher than the public’s actuary recommended. The increase, against a backdrop of record profits for … Read More »

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🚨Compline to provide 2020 X-Mods Daily – Plus Lower Rating Thresholds, Classification Changes & More

Beginning today as the Bureau promulgates the 2020 X-Mods Compline will be releasing them daily. Through a special arrangement with the Bureau, daily updates will last for at least one week. Compline has already updated all its various systems for calculating X-Mods and other affected functions. What was adopted is lower thresholds that qualify an employer … Read More »

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Bureau Adopts New Rate Filing Schedule

California employers used to workers’ comp rates being updated every January 1st and sometimes (nearly every) July 1st will soon have to adjust to a new schedule. The Workers’ Compensation Insurance Rating Bureau is moving to make a single, annual filing that would have new rates taking effect every September 1st. The move is still … Read More »

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Insurance Industry Sticks with Rate Filing

The Bureau is opting not to make an amended rate filing for Jan. 1, 2019 California pure premium advisory rates. The agency reviewed the industry’s second-quarter data and, despite continued improvement, opted not to alter its recommendation for a 4.5% rate cut. Based on the industry’s June 30 experience the indicated rate could come down … Read More »

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Bureau Yields To Union Pressure

The Workers’ Compensation Insurance Rating Bureau is changing course and will propose doubling the 2018 increase in the dual wage threshold for the carpentry and steel framing industries. The proposal will shift the threshold from $30 per hour to $32 per hour next year if approved by Insurance Commissioner Dave Jones. The proposal is a … Read More »

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Clients’ Results from New X-Mod Formula

We have been getting a lot of comments and queries from brokers and others who have had clients’ X-Mods change, sometimes dramatically, between 2016 and 2017. Is this the result of a change in the calculation or rating formula to the new California Variable Split Point Experience Rating Plan. Under the new formula, as most … Read More »

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Adjusting Costs A Growing Issue For Rates

The cost to administer California’s workers’ comp claims continues to increase in the post SB 863 world. Earlier expectations held that the workers’ comp reforms would ultimately reduce frictional costs in the system The latest pure premium rate recommendation from the Bureau allocates 27% of the proposed pure premium rates to loss adjustment and medical … Read More »

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Compline 2017 X-Mods Coming – Rating and Calcs Updated

The Commissioner issued the 2017 regulatory (not rates) decision on Friday. Compline, over the weekend, updated all of its X-Mod calculation tables. They are live and ready to go right now. Compline will begin publishing 2017 X-Mods as the Bureau issues and releases them to us. Compline has automatically updated all 2017 X-Mods for Members … Read More »

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