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 …
California’s rule protecting employers from wild swings in workers’ comp rates will only apply to a few classes next year. Initial data from the Workers’ Compensation Insurance Rating Bureau indicates that only eight classes will bump up against the 25% up or down limit. Some of these may not be affected when the final pure …
Workers’ Comp Executive launches each new year with the publication of a list of the “Top Stories” from the prior 12 months. Some years are more newsworthy than others, but we certainly had some doozies during what was our 30th year covering the California workers’ comp industry. Beset by the COVID-19 pandemic, Governor Newsom followed …
California’s workers’ comp claims data show a sharp drop off in medical treatments during the early months of the COVID-19 pandemic as the state was under a shelter-in-place order. Industry researchers warn that these missed treatments could lead to worse outcomes for the injured workers with employers paying the ultimate bill. The Workers’ Compensation Insurance …
The Workers’ Compensation Insurance Rating Bureau’s governing carriers rejected the public members call for an 8% rate cut and approved filing for a lesser 5.7% cut in California’s 2020 pure premium rates. The choice comes against a backdrop of record profits for California’s workers’ comp carriers. The vote was 8 to 3. All carrier members voted …
The governing committee members’ of the Workers’ Compensation Insurance Rating Bureau will meet this morning to consider 2020 rates. The result will likely be a recommendation for a low- to mid-single-digit cut to the workers’ comp pure premium rates for 2020 policies. Driving the cut are more of the same trends that have seen rates …
The California workers’ comp rating bureau took a first look at the industry data that will underpin its 2020 pure premium rate filing, and the early indication is for a 7% cut from its 2019 filing. The ultimate filing, however, will be for less, perhaps much less, if it adopts new rate-making methodologies. The Bureau …