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SCIF May Use Alternate Rating Plan if Prior Carrier Insolvent
05/05/2004
Board members of IBA West a trade group of California based insurance brokers and agents were told last week that State Compensation Insurance Fund SCIF will be using the new WCIRB Insurance Insurer Rating Adjustment Plan IIRAP in conjunction with an insured's actual losses to create a ratio
Category: News
WCIRB Reports Financial Health, But Increasing Costs
05/04/2004
The California Workers Compensation Insurance Rating Bureau WCIRB yesterday released its report summarizing insurer loss and premium experience through December 31 2003 reflecting improving health in the workers' compensation market in California and sure to spark further debate argument and
Category: News
WCIRB : Too Early to Determine SB 899 Impact on Rates
04/30/2004
On Thursday April 29 2004 the WCIRB testified at a California Department of Insurance CDI public hearing called to assess the impact of the recently-enacted Senate Bill 899 SB 899 on advisory pure premium rates effective July 1 2004.
In their testimony the WCIRB's President Robert
Category: News
Garamendi Acknowledges SB 899 Savings Not Immediate
04/30/2004
today suggests that some reforms will be subject to litigation. Additionally some of the major cost savers contained in the legislation must be triggered by administrative action before costs in the system can be reduced.
"I expect that the WCIRB with the assistance of the Commission on Health
Category: News
AIA Cautious About SB 899; Notes Litigation Will Affect Law
04/19/2004
market by restoring predictability and consistency to the workers' compensation system.
"We are encouraged this legislation will generate long-overdue cost savings in the system. Over the next few weeks the Workers' Compensation Insurance Rating Bureau WCIRB will use their expertise to conduct a
Category: News
CA Ratemaking Hearing Set 4/29; WCIRB Says No Changes
04/05/2004
2004.
The Workers' Compensation Insurance Rating Bureau WCIRB on Friday issued a statement that the WCIRB Governing Committee voted not to file for changes to the advisory pure premium rate level effective July 1 2004; however the Committee recognized that a rate filing might be necessary if
Category: News
Success of the CA Reform Deal is in the Details
04/05/2004
Commissioner John Garamendi has scheduled a rate making hearing for April 29 for July 1 policies and the WCIRB has stated that they will not file for any changes to the pure premium rate unless legislation is enacted.
WCC
Category: News
WCIRB Estimates CA Costs at $26.4B by 2007
03/31/2004
cost of workers' benefits for the
2004 accident year is 17.9 billion. This estimate of 2004 workers' benefit costs is 7 billion
less than the estimate of 2004 workers' benefit costs prepared last year prior to enactment of
Assembly Bill AB 227 and Senate Bill SB 228.
WCIRB says that the
Category: News
WCIRB : No Change in Pure Premium Rate, Too Low as Is
03/26/2004
Yesterday the Governing Committee of the Workers' Compensation Insurance Rating Bureau WCIRB announced that it had declined to make any changes in the pure premium rate level for July 1 2004.
On Wednesday the Governing Committee met to consider the recommendation of the WCIRB Actuarial
Category: News
Garamendi NY Visit, Attempt to Woo Insurers Back
03/15/2004
in January indicating that significant legislative reform of the system signed into law last year is working. Also the Workers' Compensation Insurance Rating Bureau WCIRB issued a revised projection of losses for the industry on Tuesday lowering its estimate from 24.9 billion to 17.9 billion
Category: News
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