Written Premium Projected to Decline for 1st Time in 8 Years

California’s written workers’ compensation premium is on track to decline in 2017 for the first time in eight years as premiums charged by carriers continued to drop and a slight decline in claim frequency was offset by only a modest increase in severity, according to a third-quarter report by the Workers’ Compensation Insurance Rating Bureau.  The WCIRB said California insurers reported $13.5 billion in written premiums (gross of deductibles) in the first nine months of the year, 4% lower than the first nine months of last year. Written premiums increased steadily...