WCIRB Files for 2% Pure Premium Rate Reduction

What started as a recommendation for a small increase in California’s pure premium rate turned out to be a somewhat more significant decrease instead. The Workers’ Compensation Insurance Rating Bureau on Friday submitted an amended filing to the Department of Insurance calling for the pure premium rate to be reduced 2%, to $1.96 per $100 of payroll, effective Jan. 1. The WCIRB last month recommended a 0.5% increase. “The amended filing was based on the WCIRB’s recent review of June 30, 2017, loss experience, which indicated lower-than-projected indemnity and medi...