WCIRB Reports Financial Health, But Increasing Costs

The California Workers Compensation Insurance Rating Bureau (WCIRB) yesterday released its report summarizing insurer loss and premium experience through December 31, 2003, reflecting improving health in the workers' compensation market in California, and sure to spark further debate, argument, and perhaps legislation, as to where all the savings are going. However, the report also reflects an alarming cost trend that doesn't appear to have been affected by last year's reforms, at least as of yet.WCIRB says that total gross written premiums for calendar year 2003 were $21.3 billion, or 37% abo...