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 June 30, 2021.
Highlights of the report include:
- California written premium for the first two quarters of 2021 is 8 percent below that for the first two quarters of 2020, which includes some pre-pandemic data.
- The average charged rate for the first half of 2021 is 5 percent below that for 2020.
- The projected loss ratio, including COVID-19 claims, for accident year 2020 is 5 points above that for 2019.
- The projected combined ratio for 2020, including COVID-19 claims, is 7 points higher than 2019 and 24 points higher than the low point in 2016.
The full report is available in the Research section of the WCIRB website and here:
WCIRB Research Forum Webinar
The WCIRB will host a free webinar to discuss the Quarterly Experience Report on Tuesday, Oct. 5, 2021 from 10:00 – 11:00 AM PT.
Watch WCIRB actuaries share a look at insurer experience through June 30, 2021, and how the projections compare to the WCIRB’s September 1, 2021 Pure Premium Rate Filing, which was based on December 31, 2020 experience. Also, hear the latest information on COVID-19 claims.
Register here: Webinar: CA WCIRB Experience Report for Second Quarter 2021
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