CDI to Hold Hearing on Rate Filing June 9

The California Department of Insurance will hold a virtual hearing June 9 on a proposal to raise the advisory pure premium rate by 10.4%. In April, the Workers' Compensation Insurance Rating Bureau recommended that the department increase the advisory rate to $1.71 per $100 of payroll from $1.55 for policies incepting on or after Sept. 1. Drivers of the proposed increase include cumulative trauma claim frequency and average allocated loss adjustment expenses, which have both reached all-time highs, the WCIRB said in the annual rate filing.  Other drivers include higher loss develop...