Jones Sets Pure Premium Below WCIRB Recommendation

California Insurance Commissioner Dave Jones approved an advisory pure premium rate of $2.70 for 2014 policies, an amount 1.8% less than an amended recommendation by the Workers’ Compensation Insurance Rating Bureau.The rate approved by Jones on Friday is actually the same as the rate initially recommended by the WCIRB in September, before actuaries accounted for the impact of the new Resource-Based Relative Value Scale fee schedule adopted by the Division of Workers' Compensation. After the division adopted fee schedule rules in October, the WCIRB Governing Committee voted to amend ...