In the first six months of the year, written premium was up 4.1% and average charged rates were down 3% compared to the year before, according to the Workers’ Compensation Insurance Rating Bureau of California.
Written premium through the second quarter of 2023 was $8.5 billion.
Carriers in 2022 wrote $16 billion in premium, up from $14 billion in each of the two prior years.
The WCIRB in its latest report also said the average charged rate for 2023 continues to decrease. The average charged rate of $1.68 per $100 of payroll is 3% below the average rate of $1.73 charged in ...
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