WCIRB Recommending 4.5% Rate Decrease

The Workers’ Compensation Insurance Rating Bureau said Wednesday that it will file for a 4.5% decrease in the advisory pure premium to take effect on Jan. 1. The bureau’s Governing Committee approved a recommended pure premium rate of $1.70 per $100 of payroll, down from $1.78 currently. The WCIRB said the recommended rate is 20% less than the average filed pure premium rate of $2.13 as of July 1. The rate filing, if approved by Insurance Commissioner Dave Jones, will mark the eighth consecutive rate decrease since 2015, totaling approximately 40%, the bureau said. Chie...