Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its quarterly update on insurer experience as of the end of Q1 of 2015.
Highlights from the report included that written premium for calendar year 2014 was $16.5 billion, about 11% over 2013, and 88% higher than 2009. 2015’s Q1 written premium also came in 9% above that of Q1 2014. The WCIRB projected indemnity claim frequency for AY 2014 would be 0.2% below 2013, but still about 10% above 2009, and noted that Q1 2015’s projected frequency is 3.5% below Q1 2014, but was unclear about whether it was an anomaly or represented a return to the longer term historical trend of declining claim frequency.
Find out more (including a link to the full report!) by clicking here!