As the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) prepares to issue its first recommendation for a pure premium rate increase – the first in four years – competition on the street remains frenetic. In fact, increased use of scheduled credits and price undercutting by carriers brings on visions of the bad old days …
SAN FRANCISCO – California Insurance Commissioner Steve Poizner and two senior Insurance Department executives at last week’s rate hearing turned the tables on the Workers’ Compensation Insurance Rating Bureau and questioned the reliability of the body’s data. Poizner, along with Insurance Department senior actuary Ron Dahlquist and CDI senior counsel Chris Citko, said they were …
SAN FRANCISCO – The Workers’ Compensation Insurance Rating Bureau of California made its case to Insurance Commissioner Steve Poizner yesterday for an 11.3 percent decrease in the advisory pure premium rate effective July 1. The recommendation comes just six months after industry experts assumed rates had finally bottomed out with the 9.5 percent rate reduction …
If the insurance commissioner approves the recommended rate decrease of 6.3 percent for Jan. 1, 2007, pure premium rates will have plummeted 58 percent since July 2003, according to the Workers’ Compensation Insurance Rating Bureau of California. Positive loss development for accident year 2005, decreasing claims frequency and declining costs in permanent disability continue to …
True to predictions the Workers’ Compensation Insurance Rating Bureau of California is considering, and is likely to approve a six percent decrease in the pure premium rate for policies renewing and incepting Jan. 1, 2007. If Insurance Commissioner John Garamendi approves a six percent rate decrease, pure premium advisory rates will be 58 percent lower …