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WCIRB Approves Recommendation for 0.9% Rate Increase

04/18/2024
motion to recommend a rate cut failed 3-8 with all insurance company representatives voting no. Sean Cooper executive vice president and chief actuary for the WCIRB cited increased medical loss development and higher allocated loss adjustment expenses costs directly attributable to a specific

Category: News

WCIRB Committee to Discuss Rate Filing Wednesday

04/12/2024
The Governing Committee for the Workers Compensation Insurance Rating Bureau of California will discuss the upcoming advisory pure premium rate recommendation when it meets Wednesday. Since 2021 the WCIRB has submitted its annual pure premium recommendation in April with the new rates taking

Category: News

WCIRB Actuarial Committee Meets Thursday

04/09/2024
committee will also review medical severity trends the impact of economic conditions on pure premium rates the impact of 2021 fee schedule changes and insurer experience for 2023. The WCIRB Actuarial Committee is meeting virtually at 930 a.m. A copy of the agenda which includes a link to register

Category: News

WCIRB Webinar to Cover Impact of Employee Tenure on Frequency

03/28/2024
The Workers Compensation Insurance Rating Bureau of California is holding a webinar April 18 to discuss results from a study of the impact of employee tenure on claim frequency. About 40 of work comp claims come from those with less than one year on the job the WCIRB said. Workers with less

Category: News

CDI Hearing on Regulatory Filing Set for April 25

03/26/2024
-19 workers compensation claims environment has normalized such that COVID-19 claims are similar to other workers compensation exposures the WCIRB says in the cover letter to its filing. The Division of Occupational Safety and Health has published guidance to help employers mitigate

Category: News

WCIRB Actuarial Committee Meets Thursday

03/19/2024
involving permanent disability that date back to 2016. Claims with only TD benefits cost less on average than permanent disability claims and have different loss development patterns so the shift in the mix of injury types can influence loss development and trend projections. The WCIRB Actuarial

Category: News

Insurance Commissioner Announces Reappointments

03/07/2024
Governors which oversees CIGA's general operations and management to protect policyholders in the event of insurance company insolvencies. Lara also reappointed Jeremy Smith to the California Workers Compensation Insurance Rating Bureau Governing Committee which sets policy oversees WCIRB management

Category: News

WCIRB Governing Committee Meets Thursday

02/05/2024
The Governing Committee for the Workers Compensation Insurance Rating Bureau of California is meeting on Thursday to discuss the annual regulatory filing that will be submitted later in the month. Among other things the WCIRB is again considering bringing COVID-19 claims into experience

Category: News

WCIRB Classification and Rating Committee Meets Jan. 30

01/24/2024
The Workers Compensation Insurance Rating Bureau of California Classification and Rating Committee is holding a virtual public meeting on Jan. 30.

Category: News

WCIRB : Written Premium Up 14% for 2022

12/21/2023
Written premium in 2022 is 14 higher than in 2021 and nearly at the pre-pandemic level the Workers' Compensation Insurance Rating Bureau said in its Third Quarter 2023 Experience Report released Wednesday. The WCIRB reports 15.7 billion in written premium for 2022 up from 13.9 billion in

Category: News

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