WCIRB to Revise COVID Industry Class Factors in Rate Filing

Some California employers will get a little relief from what is essentially a COVID-19 surcharge after the Governing Committee for the Workers’ Compensation Insurance Rating Bureau on Wednesday voted 10-1 to revise the 2021 advisory rate recommendation. The revised methodology would put businesses into one of six categories with surcharges of 1 cent, 3 cents, 6 cents, 12 cents, 18 cents and 24 cents based on the risk of exposure. The previous formula split businesses into four categories with surcharges of 2 cents, 6 cents, 12 cents and 24 cents. The revision doesn’t affect t...