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 …
Despite a 22.8% recommendation from the Workers’ Compensation Insurance Rating Bureau of California there will be no official pure premium rate increase. Insurance Commissioner Steve Poizner moments ago announced that he was – for the second time – rejecting WCIRB’s recommendations regarding the workers’ compensation claims cost benchmark (AKA the pure premium rate). The rate …
Unfazed by last month’s rejection of its recommendation to increase the workers’ comp claims cost benchmark, the Workers’ Compensation Insurance Rating Bureau is going to come back with a recommendation for a 22.8% boost for policies incepting or renewing on or after January 1, 2010 — a difference of just a point from its mid-year …
Unwise. Unrealistic. Unsustainable. Those are a few of the early reactions to Insurance Commissioner Steve Poizner’s decision to deny in its entirety the Workers’ Compensation Insurance Rating Bureau’s filing for a 23.7% hike in the workers’ comp claims cost benchmark AKA the pure premium rate. Actuaries at the California Department of Insurance discounted the Bureau’s …
Calling on the Bureau to eliminate the nearly 6% increase in its current rate filing attributable to the recent en banc decisions by the Workers’ Compensation Appeals Board in Almaraz, Guzman and Ogilvie impacting permanent disability ratings until the judicial process has run its course, Insurance California Commissioner Steve Poizner is heeding the call of …
Citing revised data from Zurich, the Workers’ Compensation Insurance Rating Bureau has lowered its pure premium rate recommendation to a 23.7% increase, down from 24.4. The change came after a data call in which Zurich US Group submitted revised aggregate financial data that pushed the curve for the claims cost benchmark. The lower filing won’t …
The Workers’ Compensation Insurance Rating Bureau’s actuarial committee met yesterday. It appears likely that the Governing committee will recommend a whopping 27% mid-term pure premium rate increase when it meets on Wednesday. Bureau’s staff is continuing to crunch some of the numbers, but that’s the recommendation from the actuarial committee to the Governing Committee. …