Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released its report on workers’ compensation losses and expenses for 2022.
The report is prepared annually pursuant to Section 11759.1 of the California Insurance Code and provides estimated California workers’ compensation costs for 2022 based on insured employer experience.
The report also examines payments made by the California Insurance Guarantee Association (CIGA) in the statewide loss payments for calendar years 2010 through 2022.
Key findings in the report include:
- Medical losses paid in 2022 were $4.4 billion, or 53 percent of total loss payments.
- Indemnity benefits paid in 2022 were $4.0 billion, or 47 percent of total loss payments. The following benefits accounted for the vast majority of those indemnity payments:
- Temporary disability: 56 percent
- Permanent partial disability: 34 percent
- Vocational rehabilitation: 1.8 percent
- Total insurer combined losses and expenses incurred in 2022 were $15 billion, or 98 percent of calendar year premium, compared to $13.1 billion, or 96 percent of calendar year premium, in 2021.
Read the free report in the Research section of wcirb.com or here: CA WCIRB 2022 California Workers’ Compensation Losses and Expenses (PDF)
Source: WCIRB CA