The Workers’ Compensation Insurance Rating Bureau and its insurance carrier members are filing for an 11.2% overall increase in the advisory pure premium rates for policies incepting on or after September 1, 2025. The industry says the increase in experience alone justifies a rate hike of over 13%, but the independent actuary representing employers and …
The insurer member majority on the Workers’ Compensation Insurance Rating Bureau’s Governing Committee voted to ask Insurance Commissioner Ricardo Lara for a whopping 11.2% overall rate increase effective with policies …
Actuaries for the Workers’ Compensation Insurance Rating Bureau and its carrier members completed their review of the industry’s most recent experience. The upcoming rate filing reflects that the data show …
Workers’ comp medical costs showed a sharp uptick in 2024, and the news is worrisome for the industry. Payments for all medical services increased by 12% per claim, but several cost categories were growing much faster than others. Actuaries for workers’ comp insurers and the Workers’ Compensation Insurance Rating Bureau discussed the latest trends as …
The Workers’ Compensation Insurance Rating Bureau officially asked Insurance Commissioner Ricardo Lara to approve changes to the classification system to create a new wholesale baked goods class, eliminate manufacturing classes for sugar, cottonseed oil, and butter substitutes, and move these employers to new classes. The proposal also includes changes for coffee bean roasting, vape juice …
The California Department of Insurance, Administrative Hearing Bureau, is being asked to determine whether $96.7 million in “change in control” payments to certain employees of a veterinary clinic chain should be included in payroll for workers’ comp premium calculations. The workers’ comp carrier included the one-time payments in its payroll audit and is seeking nearly …
Wage inflation in California has the Workers’ Compensation Insurance Rating Bureau looking to update the payroll limits that apply to executive officers and nearly two dozen classes with high wages and low losses. WCIRB staff is recommending an increase of the minimum from $159,900 to $165,100 per year ($3,175 per week). The Bureau is a …