WCIRB Recommends 0.1% Increase in Pure Premium Rate

California’s rating bureau on Wednesday recommended its first pure premium rate increase in five years, but only a 0.1% uptick from the current rate. The Workers’ Compensation Insurance Rating Bureau’s Governing Committee approved a rate recommendation of $2.01 per $100 of payroll, to take effect on Jan. 1. That compares to a pure premium rate of $2 per $100 of payroll that took effect July 1. The WCIRB said the small increase follows five consecutive advisory pure premium rate decreases since early 2015 that decreased the advisory rate a cumulative 27%. The advisory r...