SAN FRANCISCO — Trends primarily relating to medical costs are favorable enough to warrant cutting the 2016 advisory pure premium rate by 5% for policies incepting on or after July 1, executives with the Workers’ Compensation Insurance Rating Bureau said during a Department of Insurance hearing Wednesday.
The WCIRB is recommending an advisory rate of $2.30 per $100 of payroll. The indicated rate is 10.4% lower than the average industry filed rate of $2.57 as of Jan. 1. And it’s 5% lower than the $2.42 advisory rate Insurance Commissioner Dave Jones adopted for polic...
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