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WorkCompRecap: Experience & Expectation!

October 3, 2022 - WorkCompWire

Today’s issue of WorkCompRecap features the California WCIRB’s recent release of its 2022 Second Quarter Experience Report, which provides updates on statewide insurer experience valued as of June 30, 2022.

Key findings included that California written premium for the first six months of 2022 was 27% above that for the first six months of 2021, driven by the continued economic recovery. The average charged rate for the first half of 2022 was 3% below that for 2021 and the lowest in decades. The WCIRB also noted that the projected loss ratio for 2021, including the cost of COVID-19 claims, is 6 points above that for 2020 and 12 points above that for 2019. The projected combined ratio for 2021, including COVID-19 claims, is 8 points higher than 2020 and 33 points higher than the low point in 2016.

Find out more (including a link to the free report!)

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