Bickmore Risk Services is expanding its workers’ comp actuarial consulting operations in Oregon with the signing of a deal to acquire actuarial consulting firm Richard Sherman & Associates. The company’s office in Ashland, Oregon not only closes a gap in Bickmore’s geographic coverage but also broadens its areas of expertise to allow it to reach out …
Much has been made of what the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) new pure premium benchmark shows in systemwide costs and what may be obscured by the change in methodology. What hasn’t received much attention is the significantly lower workers’ comp rate recommendation offered up in testimony. It’s a message repeated many times in …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) has a new approach to its pure premium rate recommendations that highlights stark contrasts in the rates WCIRB says carriers have on file for various industry classifications and the rates the bureau says they need to cover costs. Overall, the bureau found in nearly 80 different classifications a …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) is preparing to file a new rate recommendation for Insurance Commissioner Steve Poizner to consider that would ease the proposed hit on employers by nearly 2 full percentage points for policies incepting and renewing January 1, 2011. Last month WCIRB filed for an average increase in pure premium …
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 …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) actuarial committee reviewed the latest data it collected about the California workers’ comp system last week and chose not to recommend a midyear rate increase. But this doesn’t mean cost drivers witnessed in prior quarters have disappeared. Nor does it mean carriers won’t file their own increases. The …
Barring an extraordinary decision by the Workers’ Compensation Insurance Rating Bureau’s governing committee to go against its own guidelines there will be no mid-year pure premium rate filing this year. The Bureau’s actuarial committee just completed its review of the latest numbers and saw too little change from its January 1, 2010 filing to justify …
Rate filings by California workers’ comp insurance carriers have continued unabated since Insurance Commissioner Steve Poizner denied an increase in the recommended pure premium rate, and the filings are coming in well south of the 22.8% increase recommended by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB). Some are even coming in as actual …