Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its quarterly update on insurer experience as of the end of Q2 of 2015.
Highlights from the report included that written premium for the first half of 2015 was approximately $8.9 billion, about 9% above the first half of 2014, and that projected industry average charged rate per $100 of payroll for policies incepting in the first half of 2015 was $3.01, approximately 1% above the average rate charged for 2014. The WCIRB also noted that it is projecting average severity of a 2014 indemnity claim to be approximately $85,000, moderately higher than the projected severities for the last several accident years.
Find out more (including a link to the free report!) by clicking here!
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