The Workers’ Compensation Insurance Rating Bureau’s Governing Committee on Wednesday approved a staff recommendation to increase the average pure premium rate by 2.6% in 2021, potentially spelling an end to years of rate cuts in California.
By an 8-4 vote, with all eight insurer representatives voting "yes," the committee approved a motion to raise the pure premium rate to $1.56 per $100 of payroll. The current rate is $1.52.
The motion, however, leaves the door open for WCIRB staff to amend the rate filing in September if compelling or significant COVID-related data ar...
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