Oakland, CA – The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its Quarterly Experience Report.
The report provides an update on California statewide insurer experience valued as of June 30, 2023.
Highlights of the report include:
- Written premium through the second quarter of 2023 of $8.5 billion is 4.1 percent higher than the same period in 2022.
- The average charged rate for the first six months of 2023 continues to decrease; it’s 3 percent below that for 2022 and the lowest in decades.
- The projected loss ratio, including the cost of COVID-19 claims, dropped 3 points in accident year 2022.
- The projected combined ratio for accident year 2022, including COVID-19 claims, is 8 points lower than in 2021.
The full report is in the Research section of the WCIRB website and here: CA WCIRB Quarterly Experience Report – As of June 30, 2023 (PDF)
Source: CA WCIRB