Profitability Since SB 863 Unprecedented; Friction Remains a Top Concern

SAN FRANCISCO — As the Workers’ Compensation Insurance Rating Bureau looked toward the dawn of a new era for California’s workers’ compensation system during its annual conference Thursday, attendees remained concerned with the lingering problem of frictional costs. WCIRB President and CEO Bill Mudge opened the conference at the Bently Reserve in San Francisco by reviewing combined ratios going back 40 years to demonstrate the “unprecedented period of results” of recent times. In the 1980s, combined ratios were consistently above 100%, Mudge ...