WCIRB Actuarial Committee OKs Methodology for Setting New Pure Premium Rate

Claims for COVID-19 would add about 6 cents per $100 of payroll to California’s advisory pure premium rate, under a methodology the Workers’ Compensation Insurance Rating Bureau’s Actuarial Committee approved Monday. The actual rate for 2021 won’t be known until Wednesday at the earliest when the WCIRB’s Governing Committee meets to discuss the annual filing. Employers were already looking at a penny increase earlier this year. But the Governing Committee in April voted against a midyear rate filing that would have increased the advisory rate 0.7% to $1.53 ...