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Workers’ Comp Costs Up for Some California Taxpayers

California’s self-insured cities, counties, special districts, and other public agencies saw an increase in workers’ comp costs during 2021 despite an overall decline in the number of newly reported workers’ comp claims. Overall, taxpayers paid $2.56 billion to provide indemnity and medical benefits to injured public employees – an increase of $81.9 million or 3.3% … Read More »

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Workers’ Comp Assessments Go Sky High

The Department of Industrial Relations demands on employers (insurers) and self-insured again sets new records. The agency says it needs nearly $1.4 billion to fund 2021 operations. It expects employers to pay an extra 5.9% of workers’ comp premium next year. It is a 50% increase over the 4% surcharge they paid in 2020. The … Read More »

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BBSI Leaves ACE Large Deductible Program

Barrett Business Services Inc. (Nasdaq: BBSI) says it could save up to $20 million a year on a new, fully insured workers’ comp program. It also warns that the program could end up costing it an additional $7.5 million if its experience is worse than expected. Company officials say this look back to review its … Read More »

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Private Self-Insureds’ Results

Private employers that self-insure their workers’ compensation liabilities saw an uptick in claims and workers’ comp costs last year compared to 2019. Self-insured employers saw paid indemnity benefits increase by $25 million to a five-year high of $135 million. In comparison, medical costs dropped by $10 million to $132 million, according to the latest summary … Read More »

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Market Hardening for Excess Workers’ Comp

California’s excess workers’ comp market was relatively steady last year at just over $200 million in written premium by the same 19 carrier groups that wrote business the prior year. Beyond the topline number, however, there were significant changes. Two carriers cut back sharply. Excess workers’ comp coverage is bought by self-insured employers, self-insured public … Read More »

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Self-Insured Security Program Adds Members For 2020-21

The alternative security program (ASP) run by the Self-Insurers’ Security Fund is covering $6.5 billion in security deposits for 365 self-insured private employers for the 2020/21 program year. It does so without the members posting security deposits. The total amount covered by the ASP is down roughly $100 million from last year in spite of … Read More »

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Private Self-Insureds Results

California’s private employers that self-insure their workers’ compensation obligation saw their number of claims increase for the fifth year in a row (see chart below). But not all of the increase is due to the higher employment levels during the five-year period. According to data released by the Office of Self-Insurance Plans, there were 3.7 … Read More »

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Sharp Drop In Public Agency Claims During COVID-19 Crisis

The statewide stay-at-home orders that California has been operating under since March is having a dramatic impact on workers’ comp claims for the state’s self-insured school districts and municipalities. Actuaries for these self-insured public entities say that claims from public school workers were down 84% in April compared to historical norms, while municipalities saw decreases … Read More »

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