Fewer liens, faster claim settlement, improving loss development and falling pharmaceutical costs continue to drive down the indicated advisory pure premium rate in California, according to actuaries at the Workers’ Compensation Insurance Rating Bureau.
Healthy wage growth in the Golden State also helped to more than offset any upward pressure on costs coming from cumulative trauma claims, increasing claim severities and high loss adjustment expenses, according to a webinar the bureau held Wednesday to discuss the filing.
The WCIRB recently recommended that the insurance commission...
Comments