WCIRB State of the System: Workers' Comp Industry Was Healthy, Stable When COVID Hit

When the calendar turned to 2020, it seemed likely that California’s workers’ compensation industry would continue its recent stretch of stability following several years of reform. That all changed when the COVID-19 pandemic hit, causing sudden mass unemployment and broad uncertainty over how the virus would affect the workers’ comp system and insurance markets, Workers’ Compensation Insurance Rating Bureau officials said Tuesday while presenting the annual State of the System report. “Given the pandemic, given all the uncertainty around claim frequency due...