Average Charged Rates up 40% Since 2009

The average rate charged by California workers’ compensation carriers increased 40% since 2009, according to the Workers’ Compensation Insurance Rating Bureau summary of first quarter insurer experience. On average, carriers charged $2.95 per $100 of payroll in the first three months of 2014, compared to $2.84 in 2013. Average rates have increased each year since 2009, when carriers were charging $2.10, according to the WCIRB report. The industry average charged rate during the first three months of 2014 is also 14.8% higher than the industry average filed rate of $2.57 as of Jul...