Average Charged Rate Down 10% Over 2017

The Workers’ Compensation Insurance Rating Bureau said the average rate California employers paid for coverage during the first nine months of 2018 was about 10% less than they paid in 2017. The WCIRB projects the industry average charged rate for policies incepting in 2018 will be $2.28 per $100 of payroll. In 2017, the average charged rate was $2.53 per $100 of payroll. At the same time, the rating bureau is projecting an ultimate accident year combined loss and expense ratio of 87% for 2017, which is four points higher than 2016. Lower premium levels and moderately higher average cl...