Hearing on 2019 Pure Premium Recommendation Scheduled for Oct. 5

The California Department of Insurance is holding a public hearing Oct. 5 to consider the Workers’ Compensation Insurance Rating Bureau’s recommendation to cut the advisory pure premium rate by 4.5%. The WCIRB on Aug. 20 filed with CDI its recommendation that the insurance commissioner approve an advisory rate of $1.70 per $100 of payroll. The indicated rate is 4.5% lower than the current rate of $1.78, and 20% less than the average filed rate of $2.23 as of July 1. A sharp drop in pharmaceutical costs, faster claim settlements and continued decline in lien filings all contribute...