The California WCIRB has compiled a summary of insurer reports of loss and premium experience valued as of June 30, 2003, finding that the gross written premium for the first six months of 2003 was $10 billion, or 37% above the 2002 level for the same period. The report also finds that the average cost of an indemnity claim in 2002 was $47,000. The report is based on data reported to the WCIRB by insurers who wrote approximately 99% of statewide 2002 premium and contains information such as calendar year written premium, estimated ultimate losses by accident year, accident year combined loss a...
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