March 24, 2018

WorkCompRecap: Getting Experienced!

Today’s issue of WorkCompRecap features the California WCIRB Actuarial Committee’s recent review of December 31, 2012 insurer experience. Key findings included a major increase in lien filings in the fourth quarter of 2012, in anticipation of the new filing and activation fees that were part of SB 863. DWC data showed almost 1.2 million liens being filed in 2012, compared to less than 500,000 in 2011.

According to WCIRB, their initial projected ultimate loss ratio for accident year 2012 is 80% – somewhat below current estimates, which range from 87.4% to 90.8% for the prior three accident years. Finally, the committee noted that paid indemnity and medical loss development continued to deteriorate in Q4 2012.

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