Tagged in: Bureau

Timekeeping Requirements For Dual-Wage Classes Clarified

There is widespread confusion and inadequacy of an employer’s timekeeping records for workers’ comp purposes for employees in the dual-wage construction and erection classifications. These issues lead to misreporting and therefore inaccurate rate development. They are also one of the staple methodologies of employer premium fraud. Both the California Department of Insurance and the Workers’ … Read More »

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27% Rate Hike Recommendation Coming

  The Workers’ Compensation Insurance Rating Bureau’s actuarial committee met yesterday.  It appears likely that the Governing committee will recommend a whopping 27% mid-term pure premium rate increase when it meets on Wednesday.  Bureau’s staff is continuing to crunch some of the numbers, but that’s the recommendation from the actuarial committee to the Governing Committee.  … Read More »

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News Digest 9/12/2008

Ohio BWC Rolls Out New Claims Reserve System The Ohio Bureau of Workers’ Compensation recently rolled out new features to its Web site that allow employers to view factors driving … Read More »

Bureau To Stick With 16% Increase

The Workers’ Compensation Insurance Rating Bureau will make an amended rate filing with the California Department of Insurance to modify the methodology and the data used to determine its pure premium rate recommendation, but the overall rate proposal will not change. The Bureau’s governing committee yesterday rejected an initial suggestion to also boost the recommendation … Read More »

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News Digest 9/11/2008

North Carolina May See First Rate Decline in Five Years Workers’ compensation insurance rates paid by employers are poised to decline in 2009 for the first time since 2004. The … Read More »

LXXVIII Another Inconvenient Truth

It doesn’t appear that much of a stir was created by the recent announcement that the Workers’ Compensation Insurance Rating Bureau is seeking a 16% increase in California workers’ comp … Read More »

Whopper Rate Increase For January

With medical inflation on the rise and a full year with no change in California workers’ compensation pure premium rate, the Workers’ Compensation Insurance Rating Bureau of California is recommending a 16% overall average increase to pure premium rates. It is for new and renewing policies as of Jan. 1, 2009. The recommendation could actually … Read More »

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News Digest 8/13/2008

A New Computation for LAE? Insurance Commissioner Steve Poizner rejected the Workers’ Compensation Insurance Rating Bureau’s methodology last year for computing loss adjustment expense projections. What parts of the data … Read More »