WCIRB Changing Approach to Pure Premium Filings

By Greg Jones, Western Bureau ChiefThe Workers' Compensation Insurance Rating Bureau will stop referencing the last approved pure premium rate in its advisory filings with the California Department of Insurance, and will instead compare pure premium rates filed by carriers with what the bureau's actuarial committee says is necessary.The new analysis is intended to produce annual filings that provide more meaningful and understandable information about insurer rates and the underlying cost drivers in California, the Insurance Department said in a statement Monday.Mark Webb, vice preside...