Private Self-Insured Frequency Drops; Paid and Incurred Losses Increase

The number of employees working for private self-insured companies fell 3.9% in 2024, while the number of claims they filed fell 7.4%, resulting in private self-insured claim frequency hitting a four-year low, according to the California Workers' Compensation Institute. At the same time, the average paid loss per claim climbed 12.3%, and the average incurred loss increased 16.8%. Private self-insured employers covered 2.25 million workers last year, compared to nearly 2.34 million in 2023. The reduction in workforce partially explains the drop in claim volume, CWCI said. The drop in cov...