Today’s issue of WorkCompRecap features some rate filing news from California’s WCIRB, who recently announced their unanimous decision not to submit a July 1, 2013 Pure Premium Rate Filing. Analysis performed by WCIRB’s Actuarial committee noted that statewide premium has increased significantly via average rate levels as well as insured payroll increases, loss development projections were in line with January’s filing, and they found only modest increases in AY 2012 claim frequency and nearly flat loss severity.
The WCIRB also noted that currently there is no new information available about the impact of SB 863, however along with a broad group of industry experts, they have developed a detailed plan to track the impact of the bill.
Find out more by clicking here!