Bureau Combines Circuses and Theaters

The Workers’ Compensation Insurance Rating Bureau’s next regulatory filing will include a proposal to split the current class covering carnivals and circuses. The plan is to have the handful of risks operating circuses move to the state’s theater classification. The Bureau is a private organization with quasi-governmental responsibility. It is financially supported exclusively by insurance … Read More »

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Will 10,000 Employers Be Added To Experience Rating?

The Workers’ Compensation Insurance Rating Bureau says its experience rating model can effectively rate employers with expected annual losses as low as $500 but is considering a go-slow approach that would lower the rating threshold in stages. The WCIRB is looking at adding 10,000 of the 300,000 employers that it believes can be effectively rated … Read More »

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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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