WCIRB Recommends 5.7% Rate Cut for 2020

California’s advisory pure premium rate is poised to fall again in 2020 with the Workers’ Compensation Insurance Rating Bureau recommending a 5.7% cut. The WCIRB’s Governing Committee on Wednesday voted to recommend the insurance commissioner reduce the advisory rate to $1.54 per $100 of payroll for policies incepting on or after Jan. 1. The commissioner last adopted a rate of $1.63 for policies incepting in 2019. If the commissioner approves the latest recommendation, it will bring to 44% the cumulative effect of the nine consecutive rate decreases approved since January 2...