WCIRB Final Pure Premium Increase Set at 16% - Unless

The Governing Committee of California's rating board issued a final recommendation for a 16% hike in the pure premium rate next year.The Workers' Compensation Insurance Rating Bureau said in a press release that it will make its official recommendation to the Insurance Department on Friday. The department has scheduled a public hearing on the rate proposal for Tuesday in San Francisco. The rating bureau initially proposed a 16% increase in pure premiums for policies incepting or renewing on Jan. 1 or afterward. But loss-experience data for the second quarter of 2008 showed increasing c...