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 …
In what would have been a decrease, the insurance carrier members on the Workers’ Compensation Insurance Rating Bureau governing committee voted unanimously to reject a mid-year 2019 pure premium rate filing. The motion to file was made by the public members on the committee. The decision effectively forestalls any change in California’s approved workers’ comp …
California statutes call for an annual pure premium rate filing, but the norm over the past 16 years has been for employers to see two filings per year as the Workers’ Compensation Insurance Rating Bureau chased rates both up and more recently down. The multiple filings make California an outlier when compared to other states, …