Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its Quarterly Experience Report, an update on California statewide insurer experience valued as of September 30, 2019.
Highlights of the report include:
- California written premium through the third calendar quarter of 2019 is 7 percent below the same period for 2018, suggesting that premium decreases are escalating in 2019.
- The average charged rate for the first nine months of 2019 is 11 percent below that for 2018 and 32 percent below the peak in 2014.
- The WCIRB projects the ultimate accident year loss ratio for 2018 to be three points above that for accident year 2017, driven by higher claim severities for 2018 and lower premium rates.
The full report is available in the Research section of the WCIRB website and here:
Source: CA WCIRB