CDI Focuses On Frequency in Workers’ Comp Rate Filing

The California Department of Insurance continues to review the insurance industry’s request for a 2.7% workers’ comp rate hike. Documents obtained by Workers’ Comp Executive indicate that an important area of focus is the Workers’ Compensation Insurance Rating Bureau’s indemnity claim frequency projection. The difference between the Bureau’s projection and one developed by an independent … Read More »

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The Case For a Workers’ Comp Rate Cut

The insurance industry officially asked Insurance Commissioner Ricardo Lara to approve a 2.7% hike in California’s advisory workers’ comp pure premium rates as of September 1, 2021. Employers are backing an alternative recommendation for an 8.2% decrease based on the analysis by actuary Mark Priven of Bickmore on behalf of the public members to the … Read More »

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Bureau Combines Circuses and Theaters

The Workers’ Compensation Insurance Rating Bureau’s next regulatory filing will include a proposal to split the current class covering carnivals and circuses. The plan is to have the handful of risks operating circuses move to the state’s theater classification. The Bureau is a private organization with quasi-governmental responsibility. It is financially supported exclusively by insurance … Read More »

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Intended Consequences

Earlier this year, April 1st to be exact, the Division of Workers’ Compensation (DWC) adopted changes to the Medical-Legal Fee Schedule (MLFS). This is the schedule governing the payment of … Read More »

Will 10,000 Employers Be Added To Experience Rating?

The Workers’ Compensation Insurance Rating Bureau says its experience rating model can effectively rate employers with expected annual losses as low as $500 but is considering a go-slow approach that would lower the rating threshold in stages. The WCIRB is looking at adding 10,000 of the 300,000 employers that it believes can be effectively rated … Read More »

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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 »

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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 »

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