Analysts Search for Signs of Hardening Rates

Following four consecutive years of workers’ comp insurance rates decreases, analysts are watching closely for any signs that the trend might be reversing. And for some, one such sign was this month’s decision by the Workers’ Compensation Insurance Rating Bureau of California to not file a midyear rate adjustment with the state insurance commissioner. The WCIRB Governing Committee on April 3 discussed a potential 3.7% decrease to the advisory pure premium rate, to take effect in July. That would bring the advisory pure premium rate to $1.57 per $100 of payroll, compared...