WCIRB Submits 2021 Rate Recommendation

The Workers’ Compensation Insurance Rating Bureau on Wednesday formally recommended that the California Department of Insurance increase the advisory pure premium rate by an average of 2.6% for policies incepting on or after Jan. 1. If approved, it would be the first rate increase since November 2014, when the state adopted a rate of $2.74 per $100 of payroll. Since then, savings from the reforms in Senate Bill 863 and subsequent fraud-fighting efforts drove a series of annual and midyear rate filings that lowered the advisory rate by more than 44% to $1.52 for policies incepting i...