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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 drop would mark the second year of decreases after seven years of annual increases in written premium. The estimate, by the Workers’ Compensation Insurance Rating … Read More »

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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 »

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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 uptick, combined with the perennial questions about when medical cost inflation is going to ramp up, has some insurance carrier actuaries asking if the industry’s … Read More »

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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 Insurance Rating Bureau is moving to make a single, annual filing that would have new rates taking effect every September 1st. The move is still … Read More »

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CDI Limits ACORD Form

The California Department of Insurance is asking the workers’ comp community not to collect responses to two questions that are on the standard workers’ comp application – the Association for Cooperative Operations Research and Development (ACORD) form 130. The offending questions are numbers 10 and 13 asking if employees under the age of 16 or … Read More »

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Updated Rules Coming for Medical Data Reporting

The designated statistical agent for California’s workers’ comp system is proposing new rules for its medical data reporting program that would crack down on workers’ comp carriers that fail to comply. Not all carriers are large enough to have to report this data to the Workers’ Compensation Insurance Rating Bureau, but the proposal would set … Read More »

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What Will the 2019 Rate Cut Be?

Presiding over his last workers’ comp rate hearing, Insurance Commissioner Dave Jones heard from employers and organized labor through their actuary. It was like a concert that the insurance industry’s proposal for a modest 4.5% 2019 rate cut doesn’t go far enough in light of the industry’s continued improvement in its financial results (see loss … Read More »

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2019 Rate Cut Could Go Deeper

Insurance Commissioner Dave Jones is hearing from the insurance industry that California’s 2019 pure premium rates should come down another 4.5% as part of an eighth straight workers’ comp rate cut. But that’s not the full story about California’s workers’ comp costs and rates. The insurer members on the Workers’ Compensation Insurance Rating Bureau’s governing … Read More »

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