The Workers’ Compensation Insurance Rating Bureau on Thursday said it submitted its annual advisory pure premium rate filing to the California Department of Insurance.
The WCIRB is recommending that the department increase the advisory pure premium rate by 0.9%. The average proposed advisory rate for policies incepting on or after Sept. 1 is $1.42 per $100 of payroll, up from $1.41.
The WCIRB said there are three key drivers of the increase.
“First, a higher medical severity trend was selected based on consideration of short-term trends, long-term trends and a recent shift ...
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