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 …
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 …
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 …
The Workers’ Compensation Insurance Rating Bureau’s plan to amend the workers’ comp experience rating system is out for public comment. The regulatory filing proposes to change the underlying basis for determining who qualifies for experience rating and will ultimately establish a new variable split point system for determining primary and excess losses. It will also …
Employers hoping to avoid a hit to their experience rating mod by refusing to cooperate with a year-end audit by their workers’ comp carrier might soon be out of luck. The Workers’ Compensation Insurance Rating Bureau is drafting a rule change to close a potential loophole in the experience rating system that is allowing some …
California’s experience rating system could be moving from a single split point for dividing primary from excess losses to one using 90 or more different thresholds based upon the size of the rated employer. The planned changes, according to the Bureau, have the potential to make the system a more accurate predictor, while lessening the …
California’s workers’ comp carriers, overall, are under reserved to the tune of nearly $12 billion according to the Workers’ Comp Bureau. The Bureau reports that carriers’ reported losses – paid losses and case reserves – are $11.9 billion less than what the bureau estimates it will cost to ultimately pay the claims. The amount equals nearly …
California’s insured employers paid some $5.2 billion in medical costs during 2013 for injured workers. So says California’s private Workers’ Compensation Insurance Rating Bureau (Bureau) in its upcoming annual report. It will contend the largest increases were made to physicians and payments directly to injured workers for future medical care as part of settlement agreements. Unlike …