Today’s issue of WorkCompRecap features the California WCIRB’s recent release of a new report which found that SB 863 will not only impact the cost of benefits, but also the rate at which accident year losses develop over time.
Key findings include that in addition to impacting the indemnity development of AYs 2013 and 2014, WCIRB expects some provisions of SB 863 will also impact the indemnity paid development of older accident years. With regard to medical development, the WCIRB’s estimated adjustments for SB 863 actually indicate a modest decrease in future medical development in the post-SB 863 environment.
Find out more (including a link to the full report!) by clicking here!