WCIRB Foregoes Rate Increase Recommendation

After reviewing statewide yearend 2000 loss data, the WCIRB has elected to not to file for an interim July 1, 2001 increase in advisory pure premium rates. An interim filing was being considered as losses have been deteriorating throughout 2000. The WCIRB's review of the yearend 2000 data suggested that 2001 pure premium rates may be inadequate by approximately 2% due to continued deterioration in statewide loss experience. However, in view of the relatively small variance, the WCIRB elected not to submit a request to the Insurance Commissioner for an interim pure premium rate incr...