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Continuation of Positive Trends Drives Recommended 2019 Rate Cut

By Greg Jones (Deputy Editor)

Friday, August 10, 2018 | 590 | 1 | 87 min read

Positive trends including downward loss development, accelerating claim settlement rates, and a drop in both pharmaceutical costs and new lien filings are continuing to drive down rates in California. The Governing Committee for the Workers’ Compensation Insurance Rating Bureau on Wednesday voted to recommend that the insurance commissioner lower the advisory rate, to $1.70 per $100 of payroll, for policies incepting on or after Jan. 1, 2019. It is the eight consecutive rate cut the WCIRB has recommended and would result in a cumulative 40% reduction in the advisory rate since 2015...

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