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Garamendi Claims Early Victory on Rate Decreases
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
AIA Points Finger at Legislature to Finish Job
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
WCIRB : Premiums are $10B So Far; Claims $47K Each
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
WCIRB Clarifies Rate Filing Requiremets re AB 227
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repealed unless a later enacted statute that is enacted before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
CA WCIRB Updates Basic Underwriting Manual
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
CA Comm Makes Non-Substantive Rate Amendments
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
WCIRB Seeks Distance From Garamendi Rate Ruling
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
CA WCIRB Publishes Amended Rate Filing
11/06/2003
on November 3 2003 the WCIRB provided an updated evaluation of the impact of AB 227 and SB 228 on the indicated 2004 pure premium rate level. The updated evaluation reflects consideration of additional information and data related to several SB 228 provisions for which no cost savings were
Category: News
3rd Hearing Set on WCIRB Rate Request
10/15/2003
The California Department of Insurance CDI has set a date for the continuance of the public hearing regarding the WCIRB's January 1 2004 regulatory
Category: News
Risk Mgr Says Comp Reform Math Doesn't Add Up
10/14/2003
. According to the Workers' Compensation
Insurance Rating Bureau WCIRB the agency that tracks all the system costs and reports them
to the Insurance Commissioner the total cost of medical expenses for the year 2002 was only
4.1 billion.
The WCIRB released a preliminary estimate of the cost
Category: News
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