Insurance Department Holds 2018 Rate Hearing

California Insurance Commissioner Dave Jones held a hearing Thursday in San Francisco to consider the Workers’ Compensation Insurance Rating Bureau’s recommendation to reduce the advisory pure premium rate by 2%. The WCIRB is recommending that the commissioner lower the advisory pure premium rate to $1.96 per $100 of payroll from the mid-year rate of $2. The recommended rate is 16.1% lower than the industry average filed rate of $2.34 as of July 1. Initially, the WCIRB in August proposed a 0.5% increase, to $2.01. But the rating bureau in September said its review of insurer ...