02/05/2004
The Workers' Compensation Insurance Rating Bureau WCIRB of California has released its Report On Q3 2003 Insurer Results reflecting undisciplined behavior by carriers in the late nineties that has come back to haunt employers in the early 2000s with 1999 combined expenses at an all time high
Category: News
12/19/2003
Fund and the self-insured-are expected to grow significantly even with the enactment of SB 228 and AB 227. According to the Workers' Compensation Insurance Rating Bureau WCIRB total system costs are expected to be 28.2 billion by 2006-up from 11.3 billion in 1998. Without the reforms in last
Category: News
12/11/2003
September reform efforts from the WCIRB to Insurance Commissioner; would increase the criminal fines in fraud cases from
50000 to 150000; would require doctors to complete a course on treatment guidelines and utilization; would changes times lines on spinal surgery if the employer objects; requires the
Category: News
12/04/2003
reform legislation the Workers' Compensation Insurance Rating Bureau WCIRB had recommended to the Commissioner that the advisory rate he sets for insurers be increased by 12 percent beginning in January.
Pure premiums primarily represent the cost of claims without associated costs such as profit
Category: News
11/25/2003
significantly more reform is needed before employers will see dramatic premium reductions.
"Legislative remedies contained in AB 227 Vargas and SB 228 Alarcon have brought some light into what was a bleak situation" said Sektnan. "They caused the Workers' Compensation Insurance Rating Bureau WCIRB to
Category: News
11/21/2003
The California WCIRB has compiled a summary of insurer reports of loss and premium experience valued as of June 30 2003 finding that the gross written premium for the first six months of 2003 was 10 billion or 37 above the 2002 level for the same period. The report also finds that the average
Category: News
11/18/2003
repealed unless a later enacted statute that is enacted before
January 1 2005 deletes or extends that date.
The WCIRB says that the Department of Insurance" has advised that insurer rate filings for policies incepting on or
after January 1 2004 should clearly show that the 18 savings estimated
Category: News
11/12/2003
To facilitate the filing of insurer rates with the California Department of Insurance the WCIRB has updated the advisory California Basic Underwriting Manual.
The California Basic Underwriting Manual is not subject to Insurance Commissioner approval and is advisory in that insurers are neither
Category: News
11/12/2003
On November 7 2003 the California insurance commissioner issued a decision regarding the WCIRB's January 1 2004 Regulatory Filing. The WCIRB announced yesterday that the office of the Insurance Commissioner has amended the rate decision.
Following the 1107 rate decision the WCIRB released a
Category: News
11/10/2003
Commissioner issued a decision regarding the WCIRB's amended January 1 2004 regulatory filing. In the amended filing made on November 3 2003 the WCIRB recommended that pure premium rates be reduced on average from 2.9 to 5.3. See WCIRB Files Amended January 1 2004 Regulatory Filing. In the decision
Category: News