CDI Focuses On Frequency in Workers’ Comp Rate Filing

The California Department of Insurance continues to review the insurance industry’s request for a 2.7% workers’ comp rate hike. Documents obtained by Workers’ Comp Executive indicate that an important area of focus is the Workers’ Compensation Insurance Rating Bureau’s indemnity claim frequency projection. The difference between the Bureau’s projection and one developed by an independent … Read More »

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The Case For a Workers’ Comp Rate Cut

The insurance industry officially asked Insurance Commissioner Ricardo Lara to approve a 2.7% hike in California’s advisory workers’ comp pure premium rates as of September 1, 2021. Employers are backing an alternative recommendation for an 8.2% decrease based on the analysis by actuary Mark Priven of Bickmore on behalf of the public members to the … Read More »

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Will Pure Premium Increase or Decrease?

Insurance Commissioner Ricardo Lara held a hearing regarding California workers’ compensation pure premium rates yesterday. He heard from both the insurance industry and from employers and organized labor representatives on … Read More »

Amid Pandemic, 2020 Combined Ratio Tops 100

The preliminary combined ratio for California workers’ comp carriers may have climbed past 100 last year for the first time in nearly a decade as COVID-19-related costs pushed up the industry’s average. The Workers’ Compensation Insurance Rating Bureau is projecting the 2020 accident year combined ratio at 102% inclusive of the COVID-19 costs. The Bureau … Read More »

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California Rate Recommendations’ Differences Largest In A Decade

The Workers’ Compensation Insurance Rating Bureau made its pure premium rate filing official last week and sought a 2.7% increase in California workers’ comp advisory rates effective September 1, 2021 – the first increase since rates began to fall in 2015. The filing is at odds with the recommendations made by the public members of … Read More »

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California Rate Fight Breaks Out

Updated Copy: This article has been updated to correct the rate recommendation from the public members’ actuary. The correct data is represented in the article. The Workers’ Compensation Insurance Rating Bureau and the insurance industry majority on its Governing Committee are filing again to increase workers’ comp pure premium rates for California employers. The carriers … Read More »

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Workers’ Comp Rates Likely to Increase

The Workers’ Compensation Insurance Rating Bureau’s staff of actuaries will be presenting their recommendations for a September 1st, 2021, California pure premium rate filing to the Bureau’s governing committee members later this morning. The actual rate recommendation was unknown as of deadline because the staff was still adjusting for the economic impact of the COVID-19 … Read More »

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