Today’s issue of WorkCompRecap features the California WCIRB’s recent release of the 2016 edition of its State of the California Workers’ Compensation Insurance System Report, which examines the cost of workers’ comp insurance based on premiums paid by insured employers, shows how premium dollars are distributed among various system components, and details cost drivers in the system.
Key findings from this edition included that written premium growth has slowed compared to prior years as rate increases have moderated, while economic expansion has contributed to increased employer payrolls. The Los Angeles Basin area remains an issue for the system, driving recent increases in indemnity claim frequency that are counter to trends in other states, with the WCIRB noting that indemnity claim frequency in the LA Basin area was over 30% higher than the statewide average.
Find out more (including a link to the free report!) by clicking here!