Commissioner Lara Faces First Test On Workers’ Comp Rates
California Insurance Commissioner Ricardo Lara is in the midst of his first review of the industry’s annual workers’ comp rate filing. He is facing a tough decision: go with the …
Tagged in: WCIRB
Four Workers’ Comp Classifications Become Two
The Workers’ Compensation Insurance Rating Bureau’s Classification and Rating Committee approved a staff proposal to merge two classifications with relatively low credibility into two other classes as of Jan. 1, …
CIGA’s Financial Outlook Continues To Improve
The California Insurance Guarantee Association (CIGA) is reporting more positive news on its financial outlook. The agency says an updated actuarial analysis trimmed one critical financial estimate by $290 million. …
Here’s the 2020 Rate Filing Numbers
The Workers’ Compensation Insurance Rating Bureau’s governing carriers rejected the public members call for an 8% rate cut and approved filing for a lesser 5.7% cut in California’s 2020 pure …
Workers’ Comp Premium Expected To Drop Another $1B In 2019
Despite increasing payrolls, early estimates of the 2019 California workers’ comp market are indicating another drop in written premium to about $15.7 billion total for the year. The $1.3 billion …
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 …
Could 2018 Be the Turning Point For Workers’ Comp?
California’s workers’ comp results are still showing the positive impact of the Baker SB 863 reforms, but the industry’s emerging 2018 data reveals a puzzling uptick in indemnity severity. That …
Bureau Adopts New Rate Filing Schedule
California employers used to workers’ comp rates being updated every January 1st and sometimes (nearly every) July 1st will soon have to adjust to a new schedule. The Workers’ Compensation …