WCIRB Report Reflects Lack of Discipline for Present Mess

The Workers' Compensation Insurance Rating Bureau (WCIRB) of California has released its Report On Q3 2003 Insurer Results, reflecting undisciplined behavior by carriers in the late nineties that has come back to haunt employers in the early 2000s, with 1999 combined expenses at an all time high contrasted by premium rates per payroll dollar at a record low.The report also is indicative of the huge economic impact of California work comp, concluding that the total written premium for calendar year 2003 is likely to exceed $21 billion, and that the average rate charged in 2003 is almost 3 times...