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, 2020.
Highlights of the report include:
- California written premium for the first nine months of 2020 is 12 percent below that for the first nine months of 2019.
- The average charged rate for the first nine months of 2020 is 9 percent below that for 2019 and 40 percent below the peak in 2014.
- While premium decreases through the first quarter of 2020 were driven by decreases in insurer charged rates, the large decrease in premium for the second and third quarters of 2020 was driven by the sudden and sharp slowdown in the economy.
The full report is available in the Research section of the WCIRB website and here: WCIRB Quarterly Experience Report – As of September 30, 2020 (PDF)
Source: CA WCIRB