WCIRB to Rely More on 'Historical Data,' Less on 2020 Stats to Craft New Premium Rate

While some people are wishing 2020 would finally end, the Workers’ Compensation Insurance Rating Bureau of California is already looking to forget it. WCIRB officials and Actuarial Committee members met via webinar Tuesday to discuss, among other topics, the impacts of the COVID-19 pandemic and multiple other statistical factors expected to be included in the bureau’s Jan. 1 advisory pure premium rate filing. WCIRB officials’ outlook on the new rate filing mirrored at least one element from the bureau’s State of the System report last month: Everything was fi...