The Workers’ Compensation Insurance Rating Bureau said unemployment projections would have a small impact on indemnity claim frequency while modest industrial mix impacts on frequency and severity will likely offset each other over the next couple of years.
The WCIRB in a report on the impact of economic changes in the Golden State said unemployment is forecast to increase slightly in 2024 and then decrease slightly. Increases in unemployment are correlated with decreases in indemnity claim frequency, and the WCIRB said that with the current forecast of small changes in the unemplo...
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