Today’s issue of WorkCompRecap features the California WCIRB’s release of its 2015 Report on the State of the California Workers’ Compensation Insurance System, which covers the cost of workers’ comp insurance based on premiums paid, shows how premium dollars are distributed among system components, and identifies key cost drivers.
Key findings from the report included that written premiums continue to grow at a double-digit annual rate due to higher premium rates and economic growth, and that California has the highest premium rates in the country, largely due to its high permanent disability claim frequency, prolonged treatment patterns, and much higher costs of handling claims and delivering benefits.
Find out more (including a link to the free report!) by clicking here!