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WCIRB Webinar Covers Notable Changes to 2020-21 USRP
01/20/2021
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In 2020 the WCIRB conducted multiple studies to determine which classifications could be eliminated or combined with others under one code Gray said.
He said the bureau examined more than 113 classifications last year and revised more than 40 for 2021.
Among the changes the WCIRB amended the
Category: News
WCIRB Predicts Lowest Premiums Since 2012
12/21/2020
The Workers Compensation Insurance Rating Bureau of California projects written premium for 2020 will be the lowest since 2012.
The 10.7 billion in written premium through the first nine months of 2020 is down 12 compared to written premium through the first nine months of 2019. The WCIRB
Category: News
WCIRB Working on Obtaining Stat Code for Insurance Commissioner's COVID-19 Data Directive
12/14/2020
rate decision last month.
In addition to ordering the 10th consecutive premium rate decrease since 2015 Lara directed carriers to identify COVID-19 adjustments in rate filings submitted to the department and advised the WCIRB to collect information on aggregate premium charged for COVID-related
Category: News
Q3 Trends 'More Normal,' but WCIRB May Toss 2020 Data Altogether Due to COVID-19
12/11/2020
officials said.
Tony Milano
WCIRB Vice President of Actuarial Services Tony Milano during an Actuarial Committee meeting Tuesday said third quarter experience from July through September showed more signs of a typical pattern due to a relative lull in infections.
The third quarter
Category: News
WCIRB : Use of Medical Services Rebounded in 3rd Quarter; Bigger COVID-19 Numbers Loom
12/09/2020
significant slowdown in medical treatments Julia Zhang managing director of medical analytics for WCIRB said during an Actuarial Committee meeting Tuesday.
Use of medical services rebounded between June and September after a slowdown between late March and May Zhang said.
Use of physician services
Category: News
WCIRB Committee to Talk Pure Premium Rate Filing at Wednesday Meeting
12/07/2020
per 100 of payroll for 2021 the 10th consecutive rate cut since 2015.
The WCIRB had recommended raising the rate to 1.56 which included a 6 cent average surcharge due to COVID-19-related cost projections across six industry sectors.
Lara however opted not to include COVID-19 claim costs in
Category: News
WCIRB Actuarial Committee Meeting Tuesday
12/04/2020
The Actuarial Committee for the Workers Compensation Insurance Rating Bureau of California will discuss medical severity trends large-deductible
Category: News
CHSWC Annual Report Shows $1.8B Drop in Administrative Expenses in 2019
12/03/2020
by the WCIRB they are roughly the same between 2018 and 2019 Azevedo said. In other words the average claim expense didnt go down so what we are seeing here is a reduction in the aggregate.
Written premiums for insured employers totaled approximately 16 billion in 2019 according to the
Category: News
Stakeholders Say Commissioner Made Right Call by Lowering Pure Premium Rate for 2021
12/01/2020
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It would have been the first rate increase in five years. But Lara said last week that the current data on COVID-19 claims is still too green and it should be up to insurers to identify COVID-related adjustments while the WCIRB continues its research.
Advocates on both the employer and labor
Category: News
Insurance Commissioner Balks at Raising Pure Premium Rate, Lowers it to $1.45
11/30/2020
Insurance said in a news release that Lara did not want to include COVID-19 costs in the rate filing because the agency and WCIRB need to collect and review more data about the virus and how it's affected the workers comp system.
The WCIRBs thorough efforts to estimate COVID-19 costs are noted and
Category: News
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