Average charged rates increased in the first six months of 2024, suggesting recent rate declines are flattening, the Workers’ Compensation Insurance Rating Bureau of California said in its latest quarterly experience report.
The average charged rate through June 30 was $1.63 per $100 of payroll, up from the average charged rate of $1.60 in 2023. The increase ends a nearly decade-long run of falling workers’ compensation costs that started in 2015 when the average charged rate fell to $3.18 from $3.19.
While average charged rates are up, written premium through the first six month...
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