WCIRB Recommending 5% Mid-Year Rate Cut

OAKLAND – The Workers’ Compensation Insurance Rating Bureau of California will recommend a second consecutive reduction in the advisory pure premium rate. The rating bureau’s Governing Committee on Wednesday voted unanimously to recommend the insurance commissioner adopt an advisory rate of $2.30 per $100 of payroll. If approved, the recommended rate would be 5% lower than the advisory rate of $2.42 that Insurance Commissioner Dave Jones adopted in October. The recommended rate is 10.5% lower than the industry average filed rate of $2.57 as of Jan. 1, 2016. The indicat...