The Workers’ Compensation Insurance Rating Bureau of California has released its Quarterly Experience Report to update statewide insurer experience measured as of Dec. 31, 2023.
Some highlights:
Written premium in 2023 is slightly higher than in 2022 and about the same as the pre-pandemic level.
The average charged rate for 2023 is 5% lower than 2022 and the lowest in decades.
The projected combined ratio for accident year 2023 is 2 points higher than in 2022 and is the fourth consecutive year above 100 percent.
The full report can be seen he...
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