Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its Quarterly Experience Report, which provides updates on statewide insurer experience valued as of June 30, 2020.
Key findings included that California written premium for the first two quarters of 2020 is 11% below that for the first two quarters of 2019. The average charged rate for the first two quarters of 2020 is 8% below that for 2019 and 40% below the peak in 2014. The report also noted that the COVID-19 pandemic and economic slowdown resulted in significant decreases in the premiums written, claims reported and claims settled in the second quarter of 2020.
Find out more (including a link to the free report!) by clicking here!