Premium Down 18% in 2008, Loss Ratios Continue Climb

Total workers' compensation premium dropped 18% from the year year at the half way mark in 2008, but losses were increasing a tad less rapidly than first thought, according to the second-quarter experience report posted by the Workers' Compensation Insurance Rating Bureau.As of Wednesday, the rating bureau had not yet calculated the impact of the Workers' Compensation Appeals Board revised decisions in the Almaraz/Guzman and Ogilvie cases. Employers fear those decisions will increase the subjectivity of permanent disability ratings and drive litigation costs.The bureau's recomm...