The California Department of Insurance is holding a public hearing on June 10 on a recommendation to increase the advisory pure premium rate for policies incepting on or after Sept. 1.
The Workers’ Compensation Insurance Rating Bureau on April 30 submitted its annual rate filing recommending an 11.2% increase as a result of a rise in medical costs, allocated loss adjustment expenses and frequency of cumulative trauma claims. A modest decrease in the frequency of non-cumulative indemnity claims, combined with increasing wages, helped constrain the extent of the recommended increase....
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