WCIRB Rate Amendment Authorized

Yesterday, September 11, 2002, the WCIRB Governing Committee authorized amending the WCIRB's proposed 2003 pure premium rate filing, which was submitted to the Department of Insurance on July 31, 2002. Specifically, the WCIRB will amend the proposed pure premium rates applicable to 2003 policies to reflect an average increase of 13.4% in lieu of the 11.9% increase proposed in the July 31, 2002 filing. This amendment is predicated on review of loss experience through June 30, 2002. With the exception of the proposed experience rating threshold, which will reflect the higher indicated pure premi...