The insurer members to the Workers’ Compensation Insurance Rating Bureau approved a 2019 rate cut of 4.5% at a meeting a little while ago. The filing, which will be made official in the coming days, is the eighth straight request for a rate cut since the Baker workers’ comp reforms took hold. Overall, approved pure …
Continuing earlier efforts to pressure California’s workers’ comp carriers to share any savings they have reaped from the SB 863 –– the Baker workers’ comp reforms –– Insurance Commissioner Dave Jones is now turning to any savings carriers may have received from the federal tax overhaul. The Commissioner is ordering the carriers to reveal how …
The California Legislature is entering the final stage of its two-year session, and a couple of handfuls of bills of interest to the workers’ comp community are still pending. Legislators return from summer recess on August 6th to take up these measures. All bills have to be passed by the end of August. Here is …
Early expectations are that California’s workers’ comp premium will shrink this year after expanding steadily since the 2007 recession. The exposure base – payroll – continues to grow in the Trump economic expansion, but rate reductions are outpacing them leading to lower written premium. The value of the California workers’ comp market declined by 2% …
California’s taxpayers paid out nearly $670 million for workers’ comp benefits and associated adjusting costs during the 2016-17 fiscal year, according to state records. The payout amounts to 3.86% of the state’s payroll of $17.3 Billion. The total workers’ comp costs were up roughly $5 million from the prior year and included $134 million in …
Administrative law judges at the California Department of Insurance in recent weeks have held three evidentiary hearings in disputes between California employers and Applied Underwriters/California Insurance Company, and the understaffed …
The California Department of Insurance is considering increasing a proposed $3.4 million penalty against American Labor Alliance and the officials behind the purported alternative to workers’ comp insurance. The penalty …
Industry feedback on draft regulations for deductible workers’ comp insurance policies shows wide variation in industry practices. The California Department of Insurance also heard concerns from employer representatives who noted past and current abuses by carriers, but a key user of these policies remained silent on the department’s plans. Overall, the draft proposal generated surprisingly …