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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The Case For a Workers’ Comp Rate Cut

The insurance industry officially asked Insurance Commissioner Ricardo Lara to approve a 2.7% hike in California’s advisory workers’ comp pure premium rates as of September 1, 2021. Employers are backing an alternative recommendation for an 8.2% decrease based on the analysis by actuary Mark Priven of Bickmore on behalf of the public members to the … Read More »

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Bureau Combines Circuses and Theaters

The Workers’ Compensation Insurance Rating Bureau’s next regulatory filing will include a proposal to split the current class covering carnivals and circuses. The plan is to have the handful of risks operating circuses move to the state’s theater classification. The Bureau is a private organization with quasi-governmental responsibility. It is financially supported exclusively by insurance … Read More »

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Intended Consequences

Earlier this year, April 1st to be exact, the Division of Workers’ Compensation (DWC) adopted changes to the Medical-Legal Fee Schedule (MLFS). This is the schedule governing the payment of … Read More »

Will 10,000 Employers Be Added To Experience Rating?

The Workers’ Compensation Insurance Rating Bureau says its experience rating model can effectively rate employers with expected annual losses as low as $500 but is considering a go-slow approach that would lower the rating threshold in stages. The WCIRB is looking at adding 10,000 of the 300,000 employers that it believes can be effectively rated … Read More »

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Will Pure Premium Increase or Decrease?

Insurance Commissioner Ricardo Lara held a hearing regarding California workers’ compensation pure premium rates yesterday. He heard from both the insurance industry and from employers and organized labor representatives on … Read More »

Amid Pandemic, 2020 Combined Ratio Tops 100

The preliminary combined ratio for California workers’ comp carriers may have climbed past 100 last year for the first time in nearly a decade as COVID-19-related costs pushed up the industry’s average. The Workers’ Compensation Insurance Rating Bureau is projecting the 2020 accident year combined ratio at 102% inclusive of the COVID-19 costs. The Bureau … Read More »

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