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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Deep Cut In 2020 Pure Premium Rates

In his first workers’ comp advisory pure premium rate decision, Insurance Commissioner Ricardo Lara sided with both employers and organized labor. He approved a 9% rate cut for 2020 — far deeper than what insurance carriers through the Bureau sought. The Workers’ Compensation Insurance Rating Bureau’s recommendation was for a 5.4% reduction. The Bureau is … Read More »

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Construction Rate Decreases A Mixed Bag For 2019

Insurance Commissioner Dave Jones did employers and consumes a solid when he approved a 8.4% rate cut for California’s advisory pure premium rates for 2019.  It was four points deeper than the insurance industry sought through the Bureau. The move followed the 10.3% rate cut that went into effect July 1 of this year. The … Read More »

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Earthquake Load Possible For Future Rate Filings

The Workers’ Compensation Insurance Rating Bureau is considering building the earthquake exposure risk into the 2019 set of pure premium rates. The move follows the release of a new WCIRB funded study that calculates the potential losses to the workers’ comp industry’s if an earthquake should strike when and where lots of people are working. … Read More »

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CDI: Rate Cut July 1st

Insurance Commissioner Dave Jones rejected calls from employers (and labor) for a 9.6% rate cut for mid-year policies and instead sided with the Bureau establishment and insurance industry. The final decision is for a 7.8% cut from the pure premium rates approved for Jan. 1, 2017. The Bureau is a private, non-governmental organization financially supported … Read More »

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Adjusting Costs A Growing Issue For Rates

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 … Read More »

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How Much Will Rates Be Cut In January

The Workers’ Compensation Insurance Rating Bureau’s Governing Committee members minutes ago completed their review of industry experience and agree that a rate cut is in order. How big of one is still the question. Committee members, via a split vote, directed Bureau staff to redo its methodology to account for faster claims settlement rates that … Read More »

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Gigantic Rate Cut For 7/1 – Here it is

The Workers’ Compensation Insurance Rating Bureau’s governing committee just voted to seek a 10.2% cut in California’s pure premium rates. It will be effective for policies that incept or renew on or after July 1st. The motion passed on a 10-1 vote. The recommended cut would have been even larger if not for persistently high … Read More »

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