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WCIRB to Cover Rate Filing in May 6 Webinar
04/26/2021
1.34.
WCIRB staff will explain the factors that went into the filing and how it had to refine its ratemaking methodologies to reflect the economic and claims impact of the pandemic.
The overview of the Sept. 1 pure premium rate filing is from 10-11 a.m. May 6. Registration information is here.
Category: News
WCIRB Recommends Increasing Advisory Pure Premium Rate to $1.50
04/22/2021
.
The indicated rate the WCIRB will recommend constitutes a 3.4 increase over the current rate of 1.45 for policies incepting on or after Jan. 1.
The WCIRBs Actuarial Committee last week approved the staff-submitted methodologies that resulted in the indicated rate increase. The bureau said the
Category: News
WCIRB's Governing Committee Meets Wednesday
04/19/2021
other things the WCIRB is recommending that the experience rating eligibility threshold be reduced to 9500 from 9900.
The committee will also discuss and likely approve a Sept. 1 pure premium rate recommendation during the meeting.
The Governing Committee meets via webinar teleconference at 9
Category: News
WCIRB Analysis: New Fee Schedule Could Increase Overall Med-Legal Payments by 22%
04/19/2021
Medical-legal payments in California will likely increase by 22 under the Division of Workers Compensations recently updated fee schedule according to preliminary estimates from the Workers Compensation Insurance Rating Bureau.
Julia Zhang
WCIRB researchers used the new Medical
Category: News
Commissioner Reappoints Two Public Members to WCIRB Governing Committee
04/16/2021
Committee and the Worker Occupational Safety & Health Training Education Program Advisory Committee.
The WCIRB Governing Committee sets policy oversees WCIRB management and reviews all issues involving pure premium rates classifications rating plans rating systems manual rules and policy and
Category: News
Commissioner Will Rule Soon on Sept. 1 Regulatory Filing After Public Hearing
04/09/2021
the filing together.
Brenda Keys WCIRB senior vice president and chief legal officer said the bureau had reached out to stakeholders about the rule changes and the reaction had been positive.
As of today we have not received any objections to any of the proposed rule changes Keys said
Category: News
Actuarial Committee Meeting April 15
04/09/2021
The Actuarial Committee for the Workers Compensation Insurance Rating Bureau of California will review the latest insurer experience report and other issues related to the Sept. 1 pure premium rate filing when it meets April 15.
The WCIRB committee will discuss the impact of the economic
Category: News
Insurance Committee Hearing Bills on Comp Reports
03/25/2021
Bureau. Current law requires the commissioner to report on the assessment of the WCIRB website by July 2023.
AB 1148 would require the commissioner to review the WCIRB website at least every five years starting in 2023.
AB 1562 by the Insurance Committee would require the Commission on Health and
Category: News
WCIRB : Reporting Lags for Deaths Suggest Long Tail for COVID-19 Claims
03/18/2021
Carstensen
"A lot of these claims where the employee dies arent actually reported until after the employee dies" said Laura Carstensen WCIRB vice president of actuarial research. "And so that does imply that we could potentially have a pretty long reporting tail on the COVID death claims. There may
Category: News
Sept. 1 Rate Filing Won't Include COVID-19 Provision, WCIRB Officials Predict
03/17/2021
comp system in 2022 and beyond.
Despite some uncertainty moving forward hopeful predictions regarding COVID-19 immunization progress and herd immunity have some experts feeling more optimistic this time around said Dave Bellusci WCIRB executive vice president and chief actuary.
Its a
Category: News
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