The Fourth District Court of Appeal says Insurance Code section 11664 only requires carriers to notify insureds if the premium rate in their governing classification is going up by 25% or more. Carriers are not obligated to tell insureds that they will pay more due to a change in governing or other classifications. The decision …
State Compensation Insurance Fund managers say California’s competitive workers’ comp market contributes to lower premium for the carrier. And broader economic forces are affecting its new business. But underwriting strategy changes, added to improvements to its expense and loss ratios, provided positive results for the quarter, including a 6.8% improvement in its combined loss ratio. …
A filed rate increase and higher audit premium combined to push workers’ comp net premiums earned at the State Compensation Insurance Fund to $591 million for the year’s first half. The rate increase effective January 1, 2022, was for 8% overall, far outpacing the 1.7% uptick in premium that State Fund’s management team reported to …
The bill for providing workers’ compensation benefits to California state employees reached nearly $900 million for the 2020-21 fiscal year as costs climbed 5.3% from the prior year. The increase amounts to an additional $45 million spent on medical care, indemnity benefits, and claims adjusting costs. The total cost as a percentage of state payroll …
Gov. Gavin Newsom is reaching back into the ranks of organized labor for his next Legislative Affairs Secretary. Newsom tapped Christy Bouma, director of governmental affairs for the California Professional Firefighters Association, to fill a position that California Labor Federation veteran Angie Wei is vacating. Wei and Bouma are also former commissioners on the Commission …
State Compensation Insurance Fund reports that its net workers’ comp premium earned last year jumped 21.7% as payrolls at California businesses recovered from pandemic-induced shutdowns. However, company officials note that its calendar year loss and loss adjustment expense ratios are both up nearly 5 points (see chart). The financial news will be presented to its …
The Sixth District Court of Appeal rules that a concrete contractor was properly convicted for failing to have workers’ comp coverage, offering a doctored cert, filing a false exemption, and tax evasion. The appeals court also upheld a $10,000 fine. But ordered the lower court to reduce Ian Czirban’s sentence from three years of federal …