Today’s issue of WorkCompRecap features news from the Workers’ Compensation Insurance Rating Bureau of California (WCIRB), which announced that it has completed its report summarizing insurer loss and premium experience through December 31, 2010. The report is based on data reported by insurers who wrote roughly 99% of the statewide market.
Highlights from the report include California written premium for 2010 ending up 10% higher than the reported written premium for 2009, with 2010 coming in at $9.8 billion, the first indemnity claim increase in a decade, and only the second in 20 years, and finally, California saw the first average severity decrease for an indemnity claim in a decade (1.5% down from 2009).
Find out more (including a link to the full report!) by clicking here.