WCIRB Doubles Pure Premium Percentage Increase

By Greg Jones, Western Bureau ChiefSAN FRANCISCO – The Governing Committee of the California Workers’ Compensation Insurance Rating Bureau on Wednesday unanimously approved a 2014 advisory pure premium rate of $2.70 per $100 of payroll, 3% more than the $2.62 rate the committee approved in August.As a result of deteriorating loss development and increased frequency observed in the second quarter of 2013, the recommended rate is 6.9% higher than the average insurer filed rate of $2.53. The rate the committee approved in August based on data from the first three months of the year wa...