CDI Schedules June 14 Hearing on Proposed Rate Increase

The California Department of Insurance will hear testimony June 14 on a proposed 7.6% increase to the advisory pure premium rate. The Workers’ Compensation Insurance Rating Bureau is recommending that the department increase the advisory rate to $1.56 per $100 of payroll for policies incepting on or after Sept. 1. California insurance commissioners have reduced the advisory rate each year since 2015, including each of the last two years when the WCIRB recommended a rate increase. The Department of Insurance is holding a virtual public hearing on the rate recommendation at 10 a.m. June...