Today’s issue of WorkCompRecap features the recent release of the Workers’ Compensation Insurance Rating Bureau of California (WCIRB)’s release of their report summarizing insurer loss and premium experience through June 30, 2011. The Summary is based on data reported to the WCIRB by insurers who wrote about 100% of the statewide market.
Highlights include Written premium for California for the first six months of 2011 came in at $5.5 billion, roughly 10% above the first six months of 2010, and the prediction that the average cost/severity of a 2010 indemnity claim will reach levels almost 40% more than 2005, when reforms were fully implemented.
Find out more (including a link to the full report!) by clicking here!