WCIRB Committee Reviewing Possible Change to Audit Thresholds

The California Workers’ Compensation Insurance Rating Bureau’s Classification and Rating Committee will discuss during a meeting on Tuesday a possible change to the premium threshold amount that triggers physical audits. Policies that generate final premiums in excess of $13,000 are subject to a physical audit. The threshold is set at a level that corresponds roughly with the threshold for a policyholder to qualify for experience rating, according to the agenda for the meeting. Insurer rates have fallen by 22.7% since the threshold was set at $13,000, effective Jan. 1, 2015,...