December 15, 2017

WorkCompRecap: Reform Reactions!

Today’s issue of WorkCompRecap features more action from California’s developing Workers’ Comp reform legislation, with State Fund applauding the DIR after completing their preliminary review of SB 863. SCIF also noted their belief that the legislation would have an immediate and positive impact on the system, and if Monday’s version was enacted, they would see enough benefit to recommend a reduction in their filed rates in the range of 5% to 7%.
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The ACIC also weighed in on reform efforts, with President Mark Sektnan pointing out that California’s workers’ comp system has seen rising costs for the last several years, despite major reforms enacted in 2003 and 2004, and expressing ACIC’s concern that expected savings will not be realized in a timely manner, while benefit increases would take effect immediately.
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