Workers’ Comp Executive reported last week that the state’s rating bureau would be making a filing for a mid-year rate cut and that filing, made late yesterday, is now official. But the real question is will Commissioner Dave Jones approve the more significant rate cut proposed by both employers and labor? The Workers’ Compensation Insurance …
On February 21, the Workers’ Compensation Insurance Rating Bureau (Bureau) announced, in Bulletin 2018-02, that the Department of Insurance approved a series of policy endorsements – Forms – to reflect changes to the “corporate officer exclusion” law made by Senate Bill 189 (Bradford) last year. SB 189, as we all know, deals with more than …
The Workers’ Compensation Insurance Rating Bureau is considering building the earthquake exposure risk into the 2019 set of pure premium rates. The move follows the release of a new WCIRB funded study that calculates the potential losses to the workers’ comp industry’s if an earthquake should strike when and where lots of people are working. …
The Tesla Motors factory in Fremont California may be part of the high-tech digital revolution, but employees there say it has an old school analog problem – too much of the workforce is getting injured on the job. A new report – notably linked to union organizers – says Tesla’s recordable injury is 31% higher …
Changes in class compositions, experience and hazard group assignments have more classifications than usual triggering the 25% limitation on rate increases – the condition when class relativities vary dramatically from one year to the next. In all, there are 14 classes where changes in the classification relativities are limited to 25 points either up or …
The Workers’ Compensation Insurance Rating Bureau is changing course and will propose doubling the 2018 increase in the dual wage threshold for the carpentry and steel framing industries. The proposal will shift the threshold from $30 per hour to $32 per hour next year if approved by Insurance Commissioner Dave Jones. The proposal is a …
The Workers’ Compensation Insurance Rating Bureau is expected to recommend carving out several new classifications to address changes in workplaces and operations when it makes it regulatory filing for new rules effective 2018. But there are questions. How these changes will affect employers, if the Department will find them acceptable, or even if they will …
The Workers’ Compensation Insurance Rating Bureau will propose simplifying the state’s experience rating formula in 2019 to just three components – actual primary losses, expected excess losses and total expected losses. The change, says the Bureau, will not have any impact on computed mods as the current calculation already gives no weight to an employer’s …