Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently announced that it has published an update to the loss elimination ratios used in computation of classification relativities in the recently approved September 1, 2023 Regulatory Filing.
This annual update reflects the most current claim severity and benefit on-leveling factors.
Additionally, the WCIRB has updated other tables included in the advisory California Retrospective Rating Plan, California Large Risk Deductible Plan and California Small Deductible Plan.*
View the advisory plans at the following links:
- California Retrospective Rating Plan
- California Large Risk Deductible Plan
- California Small Deductible Plan
*Advisory plans are developed by the WCIRB for the convenience of its members. These plans were submitted to the Insurance Commissioner for informational purposes, but do not bear the official approval of the California Department of Insurance and are not regulations. An insurer must make an independent assessment regarding its use of these plans based upon its particular facts and circumstances.
Source: CA WCIRB