California’s Workers’ Compensation Insurance Rating Bureau has recommended that pure premium rates in the state be increased to 5.2 percent, instead of the 4.2 percent recommended earlier in September.
In September, WCIRB submitted a pure premium rate filing to the California Department of Insurance recommending, among other things, an increase in pure premium rates of 4.2 percent effective Jan. 1, 2008, with respect to new and renewal policies as of the first anniversary rating date of a risk on or after Jan. 1, 2008.
On Oct. 13, 2007, Gov. Arnold Schwarzenegger signed Assembly Bill No. 338 which extends the time period for which temporary disability payments may be taken. Based on the analysis of the bill, WCIRB amended its Jan. 1, 2008, pure premium rate filing to propose an overall 5.2 percent increase in pure premium rates in lieu of 4.2 percent.
A public hearing on the matters contained in the WCIRB’s filing was held Tuesday, Oct. 23, in San Francisco.
The amended filing and all related documents may be viewed and downloaded from the Regulatory Filings section of the Web site .
Topics Trends California Workers' Compensation Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
Flood Insurance Gap Will Squeeze Local Governments and Homeowners, Moody’s Says 
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC From This Issue
