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 …
Insurance Commissioner Ricardo Lara will hold a hearing next month to review the insurance industry’s request for a 2.7% increase in California’s workers’ comp advisory pure premium rates. At the …
The Workers’ Compensation Insurance Rating Bureau made its pure premium rate filing official last week and sought a 2.7% increase in California workers’ comp advisory rates effective September 1, 2021 – the first increase since rates began to fall in 2015. The filing is at odds with the recommendations made by the public members of …
The Workers’ Compensation Insurance Rating Bureau’s staff of actuaries will be presenting their recommendations for a September 1st, 2021, California pure premium rate filing to the Bureau’s governing committee members later this morning. The actual rate recommendation was unknown as of deadline because the staff was still adjusting for the economic impact of the COVID-19 …