Momentum is building to rein in the Workers’ Compensation Insurance Rating Bureau (WCIRB) use of midyear filings to change the advisory pure premium rates. Two key committees at the bureau favor a more restrained approach, and its governing board is scheduled to review the issue at its meeting today. The outcry follows a 37% increase …
Kern County may find itself on the hook for workplace injuries suffered by a volunteer firefighter after the volunteer fire department violated its agreement with the county and never obtained a workers’ comp policy. But the 5th District Court of Appeal is kicking the case back to the Workers’ Compensation Appeals Board (WCAB) to determine …
Bickmore Risk Services is expanding its workers’ comp actuarial consulting operations in Oregon with the signing of a deal to acquire actuarial consulting firm Richard Sherman & Associates. The company’s office in Ashland, Oregon not only closes a gap in Bickmore’s geographic coverage but also broadens its areas of expertise to allow it to reach out …
Much has been made of what the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) new pure premium benchmark shows in systemwide costs and what may be obscured by the change in methodology. What hasn’t received much attention is the significantly lower workers’ comp rate recommendation offered up in testimony. It’s a message repeated many times in …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) has a new approach to its pure premium rate recommendations that highlights stark contrasts in the rates WCIRB says carriers have on file for various industry classifications and the rates the bureau says they need to cover costs. Overall, the bureau found in nearly 80 different classifications a …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) is preparing to file a new rate recommendation for Insurance Commissioner Steve Poizner to consider that would ease the proposed hit on employers by nearly 2 full percentage points for policies incepting and renewing January 1, 2011. Last month WCIRB filed for an average increase in pure premium …
As we reported last week, Workers’ Compensation Insurance Rating Bureau of California decided to file its largest ever recommended increase in the workers’ comp pure premium rate. It is 29.6%. It was decided on a “party-line” vote that divided the 8 carrier members from the 3 public members. Public members of the Governing Board all …
The Workers’ Compensation Insurance Rating Bureau (WCIRB) actuarial committee reviewed the latest data it collected about the California workers’ comp system last week and chose not to recommend a midyear rate increase. But this doesn’t mean cost drivers witnessed in prior quarters have disappeared. Nor does it mean carriers won’t file their own increases. The …