WCIRB Approves Filing for 7.63% Rate Hike

By Greg Jones, Western Bureau ChiefSAN FRANCISCO -- The California Workers' Compensation Insurance Rating Bureau next week will send the insurance commissioner a filing proposing an advisory pure premium rate of $2.68 per $100 of payroll − 7.63% more than the current rate − effective Jan. 1.The Rating Bureau's Governing Committee unanimously approved the filing during a meeting on Wednesday. Insurance Commissioner Dave Jones increased the pure premium rate to $2.49 as of July 1, 2012. However, California insurers are currently charging an average rate of $2.38, which means ...