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WCIRB Submits 2021 Rate Recommendation
08/27/2020
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Rates likely would have continued to fall but for the COVID-19 pandemic.
Absent the impact of COVID-19 claims on 2021 policies the filing reflects a modest decrease 1.3 in advisory pure premium rates the WCIRB said in a statement. In addition to projecting the cost of COVID-19 claims to be
Category: News
WCIRB Committee Recommends 2.6% Rate Increase for 2021 Pure Premium Filing
08/13/2020
voting "yes" the committee approved a motion to raise the pure premium rate to 1.56 per 100 of payroll. The current rate is 1.52.
The motion however leaves the door open for WCIRB staff to amend the rate filing in September if compelling or significant COVID-related data are collected by then
Category: News
Committees Give Thumbs-Up to Three Presumption Bills
08/12/2020
said it isn't clear who would reimburse workers for those costs or even what the mechanism of payment would be.
Like the others Cooper said he will continue to work on the bill as the session draws to a close.
The hearings on the presumption bills came one day after the WCIRB approved a
Category: News
WCIRB Actuarial Committee OKs Methodology for Setting New Pure Premium Rate
08/11/2020
California data was a little behind and perhaps painted a deceptively positive picture.
Zhang said the bureaus current COVID-19 death projection was an overshoot and that the WCIRB would get more up-to-date information by Wednesdays Governing Committee meeting.
Current projections predict 7790
Category: News
WCIRB Committee: Telecommuter Rate Should Be Based on Golden State Data
08/10/2020
A Workers' Compensation Insurance Rating Bureau committee says it is willing to wait for California-based data before settling on a specific pure premium rate for a proposed telecommuter classification.
WCIRB Classification and Rating Committee members on Friday opted not to rely on National
Category: News
COVID-19 Claims Could Cost at Least $2.17B Over Next 3 Years, WCIRB Says
08/06/2020
-insured employers.
The WCIRB is projecting COVID-19 losses and loss adjustment expenses for 2020 of 1.3 billion according to data presented during Tuesday's Actuarial Committee meeting. The WCIRB also assumed that the insured market will see about 63 of the COVID-19 claims this year accounting for
Category: News
WCIRB to Rely More on 'Historical Data,' Less on 2020 Stats to Craft New Premium Rate
08/05/2020
While some people are wishing 2020 would finally end the Workers Compensation Insurance Rating Bureau of California is already looking to forget it.
Dave Bellusci
WCIRB officials and Actuarial Committee members met via webinar Tuesday to discuss among other topics the impacts of the
Category: News
Rating Bureau's C&R Committee Meets Friday
08/04/2020
used for clerical telecommuters.
The WCIRB is proposing that the Department of Insurance approve a rule change that would create a class code for telecommuters that would go into effect Jan. 1. The department held a public hearing on the proposal last week.
WCIRB staff have recommended that the
Category: News
No Questions, One Comment at CDI Hearing Over WCIRB 2021 Regulatory Filing
07/30/2020
Reporting of Data and the California Workers Compensation Experience Rating Plan.
The filings most talked-about feature would create a new classification code for telecommuters brought on by the fact that more people are working at home during the COVID-19 pandemic. The WCIRB currently has no
Category: News
WCIRB's Actuarial Committee Meeting Tuesday
07/30/2020
The Workers Compensation Insurance Rating Bureau of California Actuarial Committee will meet at 930 a.m. Tuesday via webinar.
According to the WCIRB committee members will review
The impact of claim settlement rate changes on allocated loss adjustment expense development.
Longer
Category: News
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