WCIRB Approves Recommendation for 0.9% Rate Increase

The Workers’ Compensation Insurance Rating Bureau Governing Committee on Wednesday voted for a fifth consecutive time to recommend that the California insurance commissioner increase the advisory pure premium rate. The Governing Committee voted 8-3, with all members representing insurance companies voting “yes,” to recommend a 0.9% increase in the advisory rate. In what’s become something of a trend in recent years, the successful vote came after the failure of a motion by public members to use their actuary’s calculations that indicated a 3.3% rate red...