The California Workers’ Compensation Insurance Assessment Board submitted a pure premium rate request to the California Insurance Commissioner calling for a 7.6% increase.
The advisory pure premium rates for the approximately 500 standard classifications proposed to take effect on September 1 are on average 7.6% higher than the average of the advisory pure premium rates currently approved as of September 1, 2021. The average premium rates WCIRB’s September 1, 2022 advisory fees are $1.56 per $100 of payroll.
The proposed pure premium rates for September 1 are based on insurer losses incurred in accident year 2021 and prior accident years assessed as of December 31, 2021.
The proposed pure premium rates reflect changes to the California Workers’ Compensation Uniform Statistical Reporting Plan—1995 proposed by the WCIRB to take effect September 1 and were included in the WCIRB’s regulatory filing February 28. If some of these regulatory changes are not approved, the WCIRB may need to modify the pure premium rates proposed in this filing.
California Workers Compensation
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