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What’s Behind the Commissioner’s Rate Decision

California Insurance Commissioner Dave Jones’ workers’ comp pure premium rate decision trimmed the rate sought by the insurance industry through the recommendation of the Workers’ Compensation Insurance Rating Bureau. The key difference being the estimated costs of medical services going forward. The Department’s actuaries gave more emphasis to the industry’s recent experience in lowering the … Read More »

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Rates Down! Commissioner Gives Employers Early Halloween Treat

California employers got good news in the form of a bigger rate cut than the insurance industry, and the Workers’ Compensation Insurance Rating Bureau, was proposing. California Insurance Commissioner Dave Jones has issued the decision workers’ comp pure premium rates for January 2017. The Commissioner’s decision approves an overall average decrease of that is 5.6% … Read More »

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Down! Commissioner Gives Employers Early Halloween Treat

California employers got good news in the form of a bigger rate cut than the insurance industry, and the Workers’ Compensation Insurance Rating Bureau, was proposing. California Insurance Commissioner Dave … Read More »

2017 Rate Cut May Get Bigger

The Workers’ Compensation Insurance Rating Bureau’s Governing Committee will meet in the morning to consider amending its 2017 filing for a 2.6% pure premium rate cut and indications are that the final number could end up north of 4%. The difference between what is on file and the likely final rate recommendation is not normally … Read More »

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State Fund’s Premium Shrinks

The State Compensation Insurance Fund says its net premiums shrank in the first quarter of 2016 by $24 million or about 6% when compared to the year-ago period, while losses were down even more at 11%. State Fund officials say the reduction in premium was tied primarily to a decline in new business coming to … Read More »

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WORKERS’ COMP RATES CUT FOR JULY

California Insurance Commissioner Dave Jones adopted the industry’s recommendation for a 5% cut in the state’s workers’ comp advisory pure premium rates for policies incepting or renewing on or after July 1, 2016. The mid-year cut is being driven mostly by continued improvement in medical loss costs. However, the public members of the Bureau’s Governing … Read More »

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Workers’ Comp Rate Indication Down, But Concerns Remain

The Bureau is recommending a roughly 5% cut in the state’s overall advisory pure premium rates. Lower than expected medical inflation and better than expected claim frequency trends inform the rate decrease. Some actuaries remain concerned, however, that workers’ comp medical costs will rebound as they have after past reforms and quickly return to high single- … Read More »

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Workers’ Comp Rate Decision Raises Questions

The Commissioner’s approved 2% rate cut for Jan. 1, 2016 advisory pure premium rates more than doubled the industry’s proposed rate cut. Commissioner Jones did so by including the favorable impact of the most recent claims experience that the Bureau opted to ignore. California Department of Insurance actuaries sided with business and labor interests in … Read More »

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