Today’s issue of WorkCompRecap features some rate making news from California as Insurance Commissioner Dave Jones adopted an advisory average pure premium rate that was lower than the one proposed by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB). Effective January 1, Jones’ adopted rate was $2.70 per $100 of employer payroll, while the WCIRB’s came in at $2.75 per $100 of payroll. Find out more by clicking here!
The ACIC also chimed in, supporting Jones decision and noting that California’s system is “still in flux” as benefit increases are implemented and the reforms of SB 863 are rolled out, and that initial data has been showing both good and “disconcerting” news. Find out more by clicking here!