The Workers’ Compensation Insurance Rating Bureau of California said written premium for 2021 is 1.4% below that for 2020 and the lowest since 2012, in a 2022 first quarter experience report released Wednesday.
Written premium for 2021 was $13.8 billion compared to $14 billion in 2020.
The WCIRB said the decrease was driven by rate reductions that more than offset increases in payroll.
The $4.4 billion in premium through the first three months of 2022, however, is 22% above that for the same period in 2021 and 5% above what it was in the 1st quarter of 2020.
The average rat...
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