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 …
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 …
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 …
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 …
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- …
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 …
The Workers’ Compensation Insurance Rating Bureau’s Governing Committee met this morning to consider amending its Jan. 1, 2016 pure premium rate filing, but opted against a change. Emerging data indicated that the projected loss ratio is down nearly a point from where it was when the Bureau made its filing last month, but insurance industry …
The Workers’ Compensation Insurance Rating Bureau’s Governing Committee is meeting this morning to consider amending its Jan. 1, 2016 pure premium rate filing, but a change is unlikely. Emerging data indicates that the projected loss ratio is down nearly a point from where it was when the Bureau made its filing last month, but insurance …