The Governing Committee for the Workers’ Compensation Insurance Rating Bureau on Wednesday voted to recommend that California Insurance Commissioner Ricardo Lara increase the advisory pure premium rate by about 7.6%, effective Sept. 1.
The recommended rate, in addition to reflecting insurer experience through the end of 2021, excluding COVID-19 claims, includes an average 0.5% provision for the projected cost of COVID-19 claims to be incurred on policies after the start of September, the WCIRB said in a statement. The difference appears to amount to about a penny per $100 of pa...
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