Workers’ Comp Filing Proposed Changes

The industry-backed committee charged with updating California’s workers’ comp classifications and the rules for calculating premium approved a number of changes. The changes include increasing the state’s dual wage thresholds and updating the minimum and maximum payroll limits for 16 different classifications. The most important change, however, might be the sunsetting of two Covid-19 rules. … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

Amid Pandemic, 2020 Combined Ratio Tops 100

The preliminary combined ratio for California workers’ comp carriers may have climbed past 100 last year for the first time in nearly a decade as COVID-19-related costs pushed up the industry’s average. The Workers’ Compensation Insurance Rating Bureau is projecting the 2020 accident year combined ratio at 102% inclusive of the COVID-19 costs. The Bureau … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

Workers’ Comp Rates Likely to Increase

The Workers’ Compensation Insurance Rating Bureau’s staff of actuaries will be presenting their recommendations for a September 1st, 2021, California pure premium rate filing to the Bureau’s governing committee members later this morning. The actual rate recommendation was unknown as of deadline because the staff was still adjusting for the economic impact of the COVID-19 … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

Few Swinging Classes Reach Limits

California’s rule protecting employers from wild swings in workers’ comp rates will only apply to a few classes next year. Initial data from the Workers’ Compensation Insurance Rating Bureau indicates that only eight classes will bump up against the 25% up or down limit. Some of these may not be affected when the final pure … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

COVID-19 Driven Recession Distorts Second Quarter Experience

California’s workers’ comp actuaries are recommending against using the industry’s second-quarter experience in the rate-making process for 2021 advisory pure premium rates due to the gross distortions in the data from the Wuhan China sourced COVID-19 pandemic. Most notable were anomalies in claim reporting, reserving, and resolution of claims that are now running counter to … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

Claims Experience Is Positive, But Economic Factors May Overwhelm

The California workers’ comp industry’s overall claims experience continued to improve through the end of 2019, according to the latest industry data. Still, concerns are rising that the economic fallout from the COVID-19 pandemic will put an end to the positive results. Industry insiders are preparing for a number of negative outcomes both in the … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

Dual Wage Thresholds to Get Wider Range

The Workers’ Compensation Insurance Rating Bureau will be filing to increase the wage threshold that separates over a dozen construction classifications into high and low wage groupings with vastly different rates. The insurer members on its Classification and Rating Committee opted not to adjust the threshold in two classes and rejected an employer representative’s plea … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »

CT Claims Factors & Statistics

Cumulative trauma (CT) claims have been a growing problem for California employers for several years now, but the overall cost of these claims is only now coming into focus. Anecdotal data is finally beginning to turn empirical. Bureau data indicates that nearly 20% of the state’s workers’ comp pure premium rates are attributable to CT … Read More »

This content is only available to premium subscribers. Please login here log in

Read More »