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Public Hearing for WCIRB's January 1, 2015 Pure Premium Rate Filing

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Public Hearing for WCIRB's January 1, 2015 Pure Premium Rate Filing

October 15, 2014

The California Department of Insurance held a public hearing on October 8, 2014 to consider the WCIRB's January 1, 2015 Pure Premium Rate Filing which was submitted to the CDI on August 19, 2014 and later amended on September 5, 2014. See related story, Amended Pure Premium Rate Filing Submitted to CDI.

The WCIRB's presentation materials have been posted to the Regulatory Filings page of the WCIRB website. The hearing record officially closes on October 15, 2014 at 5:00 pm and the Insurance Commissioner is expected to issue a Decision regarding the Filing within 30 days of the close of the record. Once a Decision is issued, the WCIRB will begin issuing 2015 experience modifications.

We expect that nearly all first quarter 2015 experience modifications will be published within one week of receiving the Decision. Users of WCIRB Connect® can use X-Mod Direct® to receive automatic alerts as experience modifications are published for their accounts. Setting an X-Mod Direct® alert is easy and fast—simply click the "Subscribe to X-Mod Direct" ribbon button at the top of the Policyholder Details screen for any account. Once you have subscribed, you will receive an e-mail notification alerting you to any change in the experience modification for that risk.

The Decision, filing and all related documents, including the approved advisory pure premium rates, expected loss rates and other Experience Rating Plan values, will be available at www.wcirb.com under Publications and Filings > Regulatory Filings.

Related Information

Regulatory and Pure Premium Rate Filings

The Rates You Pay: Insurer Rates and Pure Premium Rates Explained