Insurance Commissioner Ricardo Lara heard the Workers’ Compensation Insurance Rating Bureau’s case for why California’s advisory pure premium rates should increase by 7.6%. He also listened to the countervailing argument of why rates should continue their historic drop for at least another rate filing cycle. In both his comments and questions, Commissioner Lara focused on …
Over the last several years Workers’ Comp Executive has not sided with the Workers’ Compensation Insurance Rating Bureau’s recommendations regarding California’s pure premium rates for workers’ compensation. Rather, WCE has …
It is time for Workers’ Comp Executive to provide a list of the most significant California workers’ compensation stories from the previous year. Some years, legislative developments like the 2012 passage of the Baker SB 863 workers’ comp reforms dominate the news. Other years’ market issues such as rising workers’ comp rates or insurance company …
The latest industry data on California’s workers’ compensation system shows that written premium for the first quarter of the year is down 13% from the year-ago period. The results, however, are not necessarily apples-to-apples as the pandemic had not yet hit the California economy last year, and this year the economy had not yet reopened. …
Insurance Commissioner Ricardo Lara approved workers’ comp advisory pure premium rates for September 1st that, on average, are 3.4% lower than the rates he approved for January 1, 2021. But while the rates for the vast majority of classes are going down, there are dozens of classes seeing rates increase starting with new or renewal …
Insurance Commissioner Ricardo Lara approved September 1, 2021, pure premium advisory rates that essentially split the difference between the insurance industry’s request for a 2.7% rate increase and an independent actuary’s recommendation for an 8.2% decrease. The final recommendation for a 3.4% decrease was not the only place where the California Department of Insurance divided …
Insurance Commissioner Ricardo Lara again rejected the insurance industry’s request for an increase in the state’s workers’ comp advisory pure premium rates and approved a 3.4% decrease for rates as …
The insurance industry officially asked Insurance Commissioner Ricardo Lara to approve a 2.7% hike in California’s advisory workers’ comp pure premium rates as of September 1, 2021. Employers are backing an alternative recommendation for an 8.2% decrease based on the analysis by actuary Mark Priven of Bickmore on behalf of the public members to the …