Class Changes Planned

The Workers’ Compensation Insurance Rating Bureau’s Classification and Rating Committee is beginning work on its next regulatory filing.  Already in the works are plans to reassign employers covered by some of California’s workers’ comp classifications. Among them are mining classifications and biomedical research facilities. In the latter case, the Bureau is recommending the inclusion of … Read More »

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Employer’s Classification Challenge Under Review

A non-profit foundation that operates a senior assisted living center is challenging the workers’ comp classification assignment for three part-time clerical staff to class 9007 instead of the standard clerical classification in 8810. Class 9007 covers “all other employees” at senior homes and carries a rate of $3.20 per $100 of payroll compared to just … Read More »

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Pandemic-Related Claims Down in 2021

The Workers’ Compensation Insurance Rating Bureau reports that claims from workplace exposure to the SARS-CoV-2 virus resulting in workers’ comp claims all but disappeared from March through July this year. But researchers expect a rebound in the second half of the year following the higher infection rates seen from the Delta variant. The Bureau is … Read More »

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California’s Workers’ Comp Premium Down Overall

The latest industry data on California’s workers’ compensation system shows that written premium for the first quarter of the year is down 13% from the year-ago period. The results, however, are not necessarily apples-to-apples as the pandemic had not yet hit the California economy last year, and this year the economy had not yet reopened. … Read More »

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28 Classes See Rate Hikes

Insurance Commissioner Ricardo Lara approved workers’ comp advisory pure premium rates for September 1st that, on average, are 3.4% lower than the rates he approved for January 1, 2021. But while the rates for the vast majority of classes are going down, there are dozens of classes seeing rates increase starting with new or renewal … Read More »

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CDI Averages Frequency Projections For Rate Decision

Insurance Commissioner Ricardo Lara approved September 1, 2021, pure premium advisory rates that essentially split the difference between the insurance industry’s request for a 2.7% rate increase and an independent actuary’s recommendation for an 8.2% decrease. The final recommendation for a 3.4% decrease was not the only place where the California Department of Insurance divided … Read More »

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Numbers and More Numbers

Last month, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its annual State of the System report.  It is an important document for those who want to see what is … Read More »

California Workers’ Comp Loss Ratio at 81%

According to the Bureau’s latest data, California’s workers’ compensation insurance carriers returned a pre-tax underwriting profit of nearly $2 billion last year. The 14% underwriting profit ratio is the third straight year of double-digit underwriting margins, but the results include State Fund’s numbers which adversely skew the results. The results sans State Fund are eye-popping. … Read More »

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