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 December 31, 2019.
Highlights of the report include:
- California written premium for calendar year 2019 is 6 percent below that for calendar year 2018.
- The average charged rate for 2019 is 12 percent below that for 2018 and 33 percent below the peak in 2014.
- The WCIRB projects the accident year combined ratio for 2019 to be six points above that for accident year 2018, primarily driven by lower premium rates.
The full report is available in the Research section of the WCIRB website and here: WCIRB Quarterly Experience Report – As of December 31, 2019 (PDF)
WCIRB Research Forum Webinar
The WCIRB will host a free webinar to discuss the Quarterly Experience Report as well as provide an update on COVID-19 regulatory changes.
Date & Time: Thursday, April 30, 2020, 10:00 – 11:00 AM PT
WCIRB actuaries will provide a summary of insurer experience and projections valued as of December 31, 2019. In addition, they will provide an update on regulatory changes proposed by the WCIRB for approval by the California Department of Insurance to address the impact of the COVID-19 crisis on experience rating and data reporting.
For those unable to attend the live webinar, a recording will be posted in the Research section of the WCIRB website following the event.
Source: CA WCIRB