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WCIRB Releases 2nd Quarter Experience Report
09/18/2019
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The bureau in its report on statewide insurer experience valued as of June 30 said written premium is down 7 compared to the same period last year. If the trend holds it would mark the third consecutive year of premium decreases.
At the same time the WCIRB reports the average charged rate for
Category: News
Governing Committee Votes Against Amending Rate Recommendation
09/05/2019
development did lower the indicated average advisory Jan. 1 2020 pure premium rate from 1.58 to 1.56 the WCIRB said in a statement. However given this modest 1 impact coupled with economic uncertainty that could result in lower wage growth than currently projected in the WCIRBs recent filing the
Category: News
WCIRB Webinar Analyzes Data From Formulary's First Year in Action
09/05/2019
While pharmaceutical costs had been declining prior to the implementation of the formulary the decline accelerated during 2018 suggestive of the drug formulary impact according a slide presented during a webinar the WCIRB hosted Wednesday.
The webinar explored a research brief released in August
Category: News
WCIRB to Host Formulary Analysis Webinar
09/04/2019
review declined by 18 the WCIRB says in an analysis brief of the formulary's effect since implementation in January 2018.
In a separate statement the WCIRB listed key findings from the report on aggregate medical payment trends
Overall medical payments declined in 2018 as medical payments
Category: News
CDI Holding Pure Premium Hearing Sept. 30
08/30/2019
declining pharmaceutical costs and a further decline in the number of liens being filed the WCIRB said in a statement. In the filing the WCIRB also noted that factors such as increases in cumulative trauma claims rising claim severities and continued high levels of allocated loss adjustment expenses
Category: News
WCIRB Governing Committee Meets Wednesday
08/30/2019
is listed as new business on the agenda.
The Governing Committee meets at 930 a.m. Wednesday at the WCIRB office 1221 Broadway suite 900 in Oakland.
The meeting agenda is here.
Category: News
WCIRB Webinar Provides Background on Proposed Rate Filing
08/29/2019
in the Golden State also helped to more than offset any upward pressure on costs coming from cumulative trauma claims increasing claim severities and high loss adjustment expenses according to a webinar the bureau held Wednesday to discuss the filing.
The WCIRB recently recommended that the
Category: News
WCIRB Releases 1st Quarter Experience Report
08/29/2019
report for the three-month period ending March 31 that the WCIRB released Tuesday include
The average charged rate for the first three months of 2019 is down 10 compared to 2018 and is 31 below the most recent peak in 2014.
The WCIRB projects the ultimate accident year loss ratio for 2018 to
Category: News
WCIRB Actuarial Committee Meeting Tuesday
08/28/2019
The Actuarial Committee for the Workers Compensation Insurance Rating Bureau will review the second quarter experience of California employers during a Tuesday meeting in Oakland.
The WCIRB last week filed with the Department of Insurance a recommendation to lower the advisory pure premium
Category: News
WCIRB Files for 5.4% Rate Cut
08/22/2019
The Workers Compensation Insurance Rating Bureau filed with the California Department of Insurance its recommendation for a 5.4 reduction in the advisory pure premium rate.
The WCIRB is recommending an advisory rate of 1.58 per 100 of payroll for policies incepting on or after Jan. 1 2020
Category: News
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