Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its report on statewide workers’ compensation insurer loss and premium experience through Q3 of 2016.
Key findings included that written premium (gross of deductible credits) through the third quarter of this year is approximately $14.1 billion, which is 5% above the written premium reported for the same period in 2015. Indemnity claim frequency for AY 2015 is projected to be 0.2% below the frequency for 2014, but 14% above the frequency for 2009. The frequency increase since 2009 was primarily attributed to increases in cumulative injury claims, late reported indemnity claims, claims involving injuries to multiple body parts, and claims from the Los Angeles Basin area.
Find out more (including a link to the free report!) by clicking here!