Calif. Loss Ratios Up Slightly, But Still Low

California workers' comp insurers continued to enjoy near-record profits in 2005, even though written premium declined 8% from the year before and another 19% in the first quarter of 2006, compared to the same period last year, according to a report released Thursday by the Workers' Compensation Insurance Rating Bureau. The WCIRB measured the combined loss ratio for comp carriers in the state at 59% for accident year 2005, compared to 55% in 2004. That means insurers enjoyed a 41% profit, not including return on investments. Accident year combined loss ratios declined every year since reachi...