WCIRB Reports Combined Losses, Expenses

California workers’ compensation carriers paid $13.2 billion in combined losses and expenses last year compared to $13.3 billion in 2018, according to a new report from the Workers’ Compensation Insurance Rating Bureau. At the same time, earned premium fell to $16.1 billion in 2019 from $17.4 billion in 2018. As a result, combined loss and expenses accounted for 82% of 2019 calendar year premium, whereas the combined ratio for 2018 was 77%. Medical payments accounted for about 55% of total loss payments in both 2018 and 2019. The comp system paid out about $4.6 billion in medical...