The Workers’ Compensation Insurance Rating Bureau of California on Friday released its Quarterly Experience Report, an update on statewide insurer experience valued as of Dec. 31, 2022.
Highlights include:
California written premium in 2022 was $15.7 billion, 14% above that for 2021, driven by higher wage levels and the economic recovery.
The average charged rate for 2022 was $1.68 per $100 of payroll, 7% below 2021 and the lowest in decades.
The projected loss ratio, including the cost of COVID-19 claims, dropped 4 points...
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