WCIRB | Page 5 of 49 | Workers’ Comp Executive | Workers’ Comp Executive

Menu

April Hearing For September 1st Workers’ Comp Regulations

Insurance Commissioner Ricardo Lara will hold a virtual public hearing on April 24th to take public comment on the Workers’ Compensation Insurance Rating Bureau’s proposed regulatory changes for workers’ comp policies incepting on or after September 1st, 2023. The rule changes include a major restructuring of the classifications for the restaurant and tavern industry, updated … Read More »

This content is only available to premium subscribers. Please login here log in

Workers’ Comp Loss Ratio For 2023 Filing Looks Better

California’s workers’ comp carriers’ experience last year improved over the prior year, according to a preliminary review of the 2022 experience the Workers’ Compensation Insurance Rating Bureau is making for its upcoming rate filing. Last year the Bureau filed for a 7.6% increase in the advisory pure premium rates arguing more premium was necessary. Insurance … Read More »

This content is only available to premium subscribers. Please login here log in

Pandemic Era Changes Hampering Workers’ Comp Fraud Prosecutions

Prosecutors and investigators are making steady gains against medical providers and vendors intent on cheating the workers’ comp system. Officials say they’re suspending some 40 providers a week on average and should rid the system of another $500 million in suspect liens this year to go with the $701 million in liens already dismissed. However, … Read More »

This content is only available to premium subscribers. Please login here log in

Fewer Classifications Will Be Limited Next Year

The Workers’ Compensation Insurance Rating Bureau will soon be making its regulatory filing for new rates effective with September 1, 2023, policies. The filing will include new classification relativity sheets that ultimately impact each class’s advisory pure premium rate, as well as the expected loss rates that affect employers’ X-Mods. “The class relativities are meant … Read More »

This content is only available to premium subscribers. Please login here log in

Bureau Makes September 1 Regulatory Filing

The Workers’ Compensation Insurance Rating Bureau sent Insurance Commissioner Ricardo Lara its proposed updates to the Uniform Statistical Reporting Plan and the Experience Rating Plan regulations to take effect September … Read More »

Finally A Separate Rate For Telecommuters

The Workers’ Compensation Insurance Rating Bureau is moving to file a separate rate for California’s 8871 telecommuter class. The rate currently mirrors the 8810 clerical classification. The move comes as the first Uniform Statistical Reports (USRs) are starting to roll in and show what many predicted from the day the class was created — drastically … Read More »

This content is only available to premium subscribers. Please login here log in

6 New Restaurant and Tavern Classes Proposed

The Workers’ Compensation Insurance Rating Bureau is moving ahead with its plan to split the 9079 Restaurant and Taverns classification into six new classes that it says better segregates the covered risks into distinct operations (see chart). The proposed changes will be part of its September 1, 2023, regulatory filing, but the actual class reassignments … Read More »

This content is only available to premium subscribers. Please login here log in

Overview to Ownership Changes

Changes in a company’s ownership structure, be it a buy-out or a merger with another entity, can significantly impact the X-Mod that’s ultimately applied to the risk. Officials with the Workers’ Compensation Insurance Rating Bureau say the first step is determining the ownership of all involved entitles. The California Workers’ Compensation Experience Rating Plan – … Read More »

This content is only available to premium subscribers. Please login here log in