WCIRB Predicts Lowest Premiums Since 2012

The Workers’ Compensation Insurance Rating Bureau of California projects written premium for 2020 will be the lowest since 2012. The $10.7 billion in written premium through the first nine months of 2020 is down 12%, compared to written premium through the first nine months of 2019. The WCIRB, in a third-quarter experience report published Friday, predicted premium for the 2020 calendar year will be the lowest since 2012, when written premium totaled $12.5 billion. The average charged rate through three quarters, $1.77 per $100 of payroll, is down 9% compared to the average $...