WC System Likely to See Fewer Claims, Lower Rates if COVID-19 Economic Fallout Continues

California's steadying workers’ compensation system could soon see significant changes if the economic fallout from the COVID-19 outbreak continues to upend the lives of American workers, according to information the Workers' Compensation Insurance Rating Bureau's Actuarial Committee reviewed Thursday. As committee members attempted to zero in on recommendations for rate plans and methodologies for the coming year, uncertainty caused by the global pandemic hung over the meeting, said Dave Bellusci, executive vice president and chief actuary for WCIRB. “Everything ...