The California Workers’ Compensation Institute reports that total direct written premium dropped to $11.7 billion in 2024 from $11.8 billion in 2023.
CWCI said the first decline in total direct written premium in four years comes as the state’s economic growth has slowed, and that work comp charged rates were near historical lows.
The average cost of comp coverage in 2024 was $1.61 per $100 of payroll, nearly matching the average charged rate of $1.60 in 2023.
“With premium rates flat and the state suffering ongoing job losses — most notably in the high-paying tech s...
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