Projected 2013 Losses at 11-Year High, CWCI Says

Workers’ compensation losses and allocated loss-adjustment expenses are projected to hit $12.5 billion for 2013, the highest they’ve been since 2002, according to the California Workers’ Compensation Institute.At the same time, the growth in premium rates in 2012 and 2013 is projected to drop the ultimate combined loss and expense ratio to 113% of premium, the lowest level since 2007, CWCI said in a bulletin released Tuesday.The CWCI analysis of the Workers’ Compensation Insurance Rating Bureau’s April 4 report on insurer experience for 2013 says at least some of ...