The Governing Committee for the Workers’ Compensation Insurance Rating Bureau on Wednesday voted 8-1 to recommend that the California insurance commissioner increase the advisory pure premium rate by 11.2% for policies incepting on or after Sept. 1.
The double-digit rate hike recommendation was driven by increases in medical loss development and a significant increase in medical costs in 2024, increasing claim frequency — particularly cumulative trauma claims, which accounted for more than one in five indemnity claims last year — and a related increase in allocated ...
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