WCIRB Reports Written Premium Down 3% Through First Quarter

Written premium for the first three months of 2024 was 3% lower than it was for the same period in 2023, the California Workers’ Compensation Insurance Rating Bureau said in its latest quarterly experience report. Written premium through March 31 was $4.2 billion. Written premium in the first quarter of 2023 was $4.4 billion. Total written premium for 2023 of $15.9 billion was slightly higher than the $15.7 billion in written premium in 2022. Payroll growth exceeded the impact of rate decreases to drive premium growth, the WCIRB said. Average rates charged for workers’ compensat...