Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its 2021 Third Quarter Experience Report, which provides updates on statewide insurer experience valued as of September 30, 2021.
Key findings included that California written premium for the first nine months of 2021 was 3% below that for the first nine months of 2020, which includes some pre-pandemic data. The average charged rate for the first nine months of 2021 was 6% below that for 2020. The WCIRB also noted that the projected loss ratio, including COVID-19 claims, for accident year 2020 is 6 points above that for 2019, and 2020’s projected combined ratio, including COVID-19 claims, is 8 points higher than 2019 and 25 points higher than the low point in 2016.