WCIRB C&R Committee Meets Aug. 6

An advisory committee to California’s Workers’ Compensation Insurance Rating Bureau will discuss adding another significant digit to expected loss rates and pure premium rates during an Aug. 6 meeting. The Classification and Rating Committee will discuss moving from two decimal places to three to make the loss rates and pure premium rates more precise. The meeting agenda says some low-hazard classifications have pure premium rates lower than 5 cents per $100 of payroll. The WCIRB said that with only two significant digits, the rates can be constrained by the application of swing ...