Actuarial Committee Votes Against Amending Rate Filing Based on 2Q Data

The Actuarial Committee for the Workers’ Compensation Insurance Rating Bureau of California on Tuesday recommended not amending the bureau’s latest pure premium rate filing to include data from the second quarter. The filing submitted last month, which was based on data collected through the first three months of 2020, recommends the insurance commissioner adopt an advisory pure premium rate of $1.56 per $100 of payroll. If approved, the rate for policies incepting on or after Jan. 1 would be 2.6% higher than the last approved rate of $1.52 for 2020. Actuarial Committee membe...