WCIRB Actuarial Committee to Discuss Insurer Experience

The Workers’ Compensation Insurance Rating Bureau’s Actuarial Committee will review California insurers' premium and loss experiences through the end of 2011 at a March 20 meeting in San Francisco.The experience summary through Dec. 31, 2011, says an 8% increase in premium to $7.7 billion from $7.1 billion in 2010 will lead to an estimated loss ratio of 80.5%. By comparison, the estimated loss ratio for 2010 is 86.6%. Other findings from 2011 are that claim frequency and claim severity are moderately higher than in previous years and losses for accident years 2009 and 2010 show...