The insurer-controlled governing committee of the Workers’ Compensation Insurance Rating Bureau just concluded its September 1, 2024, rate filing deliberations. It voted to file for a 0.9% increase in the …
The New York Compensation Insurance Rating Board announced that it is rolling out a change to its operations next year that it says will improve the accuracy of the workers’ comp rates and the experience rating modification factors it generates. The National Council on Compensation Insurance says it too is proposing to make the same …
The Workers’ Compensation Insurance Rating Bureau’s Governing Committee members voted unanimously to ask Insurance Commissioner Ricardo Lara to approve regulatory changes that would amend the 8874 companion classification for some electronic industry risks and implement higher thresholds for the construction industry’s dual-wage classifications, among other changes. The regulatory filing to become effective September 1st, 2024, …
Workers’ Compensation Insurance Rating Bureau officials say that updates to the retro hazard group (RHG) assignments are behind a higher-than-normal proportion of classes, seeing a 10% to 25% increase in their class relativity this year. However, fewer than the average number of classes will be limited to a 25% change next year, according to a …
The Workers’ Compensation Insurance Rating Bureau established the 8874 companion classification last year to cover two classes in the electronics industry group. Now, it proposes shifting payroll from two more classes in the industry group next year with a third group to follow down the road. Class 8874 currently encompasses the payroll for employees engaged …
In a new twist for California workers’ comp, the Bureau’s Classification and Rating Committee is formally recommending increasing the maximum payroll limits for two dozen classifications. The industry is used to this concept as applied to owners and executives. The Committee also gave Bureau staff the go-ahead to study setting a maximum payroll limit for …
The Workers’ Compensation Insurance Rating Bureau is proposing to increase the thresholds that separate 16 dual-wage construction classifications into high- and low-wage groups for workers’ comp rate-making purposes. The proposed increases range from $1 to $4 per hour. The Bureau is a private organization with quasi-governmental responsibility. It is financially supported exclusively by insurance carriers …
The trucking industry will be back in Federal court in Southern California next week to renew its fight to block the State of California from imposing the ABC independent contractor test on truck drivers. The trucking industry initially won a preliminary injunction, but that lapsed last year after the Ninth Circuit ruled against it and …