WCIRB Refuses Amendment to 12% Hike Request

The WCIRB of California testified before the Department of Insurance on Friday, and said that they do not plan on amending the pending 12% advisory pure premium rate increase.The rate increase, filed 7/30 with the DOI, is sought for policies incepting on or after January 1, 2004.Citing continuing growth in medical expenses and indemnity rate increases passed last year under AB 749, the rating organization's actuaries deferred comment on alleged savings to be realized under the present reform plan, stating that analysis have yet to be completed.Another hearing on the impact the reform plan wi...