Latest WCIRB Estimate Reduces Reform Savings by $90 Million

The Workers’ Compensation Insurance Rating Bureau on Friday said its latest estimate of Senate Bill 863 anticipates a greater increase in benefits that will offset additional savings from independent medical review, reducing by $90 million the savings it projected for California employers in September.The revised projection says the cost of benefits – including loss-adjustment expenses – will be $620 million in 2013 and $590 million in 2014, when the permanent disability benefit increase is fully implemented. With an additional $20 million in estimated savings from independen...