Wage growth projections for California that increased sharply over the last year likely reduced the size of the advisory pure premium rate increase recommended by the Workers’ Compensation Insurance Rating Bureau.
The WCIRB in April recommended that the insurance commissioner increase the advisory pure premium rate by 7.6% to $1.56 per $100 of payroll. Were it not for the projected payroll changes throughout the state, the indicated rate would have been closer to $1.60 — an increase of more than 10% — WCIRB Executive Vice President and Chief Actuary Dave Bellusci said du...
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