Workers’ Comp Costs Up for Some California Taxpayers

California’s self-insured cities, counties, special districts, and other public agencies saw an increase in workers’ comp costs during 2021 despite an overall decline in the number of newly reported workers’ comp claims. Overall, taxpayers paid $2.56 billion to provide indemnity and medical benefits to injured public employees – an increase of $81.9 million or 3.3% … Read More »

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CA Combined Lower Than Bureau Says

California’s workers’ comp industry is significantly more profitable than employers, legislators, regulators, and other policymakers are being lead to believe. The Workers’ Compensation Insurance Rating Bureau pegs the industry’s 2016 combined ratio at 96%, which is quite profitable. But a study commissioned by Workers’ Comp Executive extracted State Fund’s results and confirms private carriers have … Read More »

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Bureau Sees Prices Up, Costs Moderate

Through the first quarter of the year, California’s workers’ comp carriers have raised the average rate they charge the state’s employers by 3% as they gained ground on the system’s underlying costs. The Workers’ Compensation Insurance Rating Bureau (WCIRB) estimates that the industry’s loss ratio through the period is 71% — a two-point decline from … Read More »

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WCIRB Says 29.6% Rate Increase

As we reported last week, Workers’ Compensation Insurance Rating Bureau of California decided to file its largest ever recommended increase in the workers’ comp pure premium rate. It is 29.6%. It was decided on a “party-line” vote that divided the 8 carrier members from the 3 public members. Public members of the Governing Board all … Read More »

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SCIF Board Hears About Premium Loss

California’s ongoing soft market for workers’ comp coverage and the depressed-economy crisis are taking their toll on the state’s largest carrier, which continues to shed premium by the bucketload. State Compensation Insurance Fund (SCIF) ended 2009 with its lowest market share number in years after shedding $500 million in premium in 2009, and first-quarter numbers … Read More »

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SCIF LAE: In Or Out Of Rates – Let The Commissioner Decide

Unable to reach a consensus on which new methodology would be best for projecting loss adjustment expenses for California’s workers’ comp carriers and their impact on the state’s pure premium rate, the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) Actuarial Committee last week disagreed with its own actuary and ultimately settled on the “none of the … Read More »

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