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Friday, May 2, 2025
WCIRB Files Recommendation for 11.2% Rate Increase
- State: California
- Topic: WEST
- - Popular with: Legal
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The Workers’ Compensation Insurance Rating Bureau submitted its filing recommending that the C…
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One Comment
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Scott Rubel May 2, 2025 a 9:40 am PDT
Again, the insurance industry gets a significant annual increase in premium rate but permanently injured workers have not had an adjustment in their permanent disability rate in over 10 years. Employers have saved an average of approximately $15,000 per year since SB899. Injured workers, on the other hand, have seen the value of their permanent disability rates cut by approximately 26% due to inflation since 2014. SB555 requires permanent disability to be adjusted annually in an amount equal to the annual cost of living adjustment for Social Security. SB555 MUST BE PASSED AND SIGNED BY THE GOVERNOR.