The proposed Jan. 1, 2016 workers’ comp pure premiums rates are filed and in spite of the overall indicated rate decrease many individual employers may see increases if carriers adopt the filed rates. The final package of proposed advisory rates include dozens of classifications that have employers facing double digit increases over the rates …
The insurer members of the Workers’ Compensation Insurance Rating Bureau voted down a proposal to cut workers’ comp rates. Members rejected a 6% cut and instead elected just to file for a 0.8% decrease effective Jan. 2016. The move follows a mid-year pure premium rate cut of 10.2%. The Bureau is a private non-governmental organization …
The Bureau’s governing committee is considering a modest rate cut for Jan. 1, 2016. The cut will be leading the discussion as it meets next week to prepare its annual workers’ comp pure premium rate filing. The underlying data indicates the need for another rate cut – this one 2% but methodological changes under consideration could …
Insurance Commissioner Dave Jones wasted little time in approving a 10.2% cut in the state’s advisory pure premium rates as requested by the Bureau effective July 1, 2015. The decision on the mid-year rate change came quickly and will give the industry more time than usual to review the findings and decide whether or not …
The Workers’ Comp Bureau made official this week with a formal filing for a 10.2% cut in California’s advisory pure premium rates. Insurance Commissioner Dave Jones will hold a hearing on April 30 to consider a mid-year reduction for workers’ comp policies incepting and/or renewing on or after July 1. The decision to make a …
With his reelection bid successfully behind him Insurance Commissioner Dave Jones and approved a 2.2% hike in the average workers’ compensation pure premium rates for 2015. The decision shaved 1.2 percentage points off what the insurance industry had been seeking as an increase. Compline expects to begin issuing 2015 experience mods on Tuesday afternoon. The …
In a late Friday afternoon announcement California Insurance Commissioner Dave Jones approved a 7.6% increase for the 2014 workers’ comp pure premium advisory rates. The decision by the California Department of Insurance (CDI) knocked roughly five cents off what the Workers’ Compensation Insurance Rating Bureau (WCIRB) had asked for last month in its amended rate …
California employers are finally catching a break. The Bureau’s actuarial committee just finished its deliberations and determined that a mid-year pure premium rate increase is not needed. The final decision is up to the insurance carriers that fund the Bureau and which run its governing committee. They are expected to agree. Committee members did hear, …