California workers’ comp carrier’s written premium was down some 4% for the first quarter of 2025 compared to last year. At the same time, carriers’ average charged rates were up 1% — the first increase in average charged rates in over a decade (see charts). The findings are from the Workers’ Compensation Insurance Rating Bureau’s …
Insurance Commissioner Ricardo Lara and the California Department of Insurance are reviewing and evaluating testimony by the Workers’ Compensation Insurance Rating Bureau in support of its request for an 11.2% increase in the September 1st, 2025, advisory pure premium rates. They are weighing it against a competing proposal recommending an 8.1% increase that was developed …
The Workers’ Compensation Insurance Rating Bureau and its insurance carrier members are filing for an 11.2% overall increase in the advisory pure premium rates for policies incepting on or after September 1, 2025. The industry says the increase in experience alone justifies a rate hike of over 13%, but the independent actuary representing employers and …
The California Nurses Association’s ongoing effort to enact a workers’ comp presumption for private industry frontline healthcare workers cleared its initial policy committee hearing with only a single vote against it. The same committee also advanced a bill to enact an annual cost of living adjustment for permanent disability benefits. Employer interests heavily oppose both …
Workers’ comp medical costs showed a sharp uptick in 2024, and the news is worrisome for the industry. Payments for all medical services increased by 12% per claim, but several cost categories were growing much faster than others. Actuaries for workers’ comp insurers and the Workers’ Compensation Insurance Rating Bureau discussed the latest trends as …
The Workers’ Compensation Insurance Rating Bureau says that through the first six months of the year, written premium is down 2% to roughly $8.3 billion compared to $8.5 billion at the same point in 2023. Charged rates, however, are up a similar amount. The Bureau is a private organization with quasi-governmental responsibility. It is financially …
The Workers’ Compensation Insurance Rating Bureau’s Classification and Rating Committee received a briefing on the Bureau’s plans to develop advisory pure premium rates and expected loss rates (ELRs) extending to three decimal places. The change is under consideration to make it easier to adjust rates for low-hazard, low-rate classifications without running afoul of the 25% …
The California workers’ comp industry is on pace to see written premium exceed pre-pandemic levels this year. Higher wages and payroll growth are driving the increase. Through the first six months of the year carriers wrote some $8.5 billion in workers’ comp premium. The full year rate would put the industry at $17 billion, which …