In 2010, the WCIRB Governing Committee adopted a program that levies assessments on insurers for having submitted inaccurate unit statistical report (USR) data due to a widespread systemic failure or deficiency that resulted in the publication of numerous inaccurate experience modifications. The assessment is determined by:
If the insurer fails to address or correct the deficiency within a reasonable period of time, the matter may be escalated to the WCIRB Governing Committee for further remedial action.
The WCIRB Governing Committee approved revisions to the current program effective August 2015 to clarify that the pure premium basis for assessments is the most recent written modified pure premium, submitted on WCIRB quarterly data calls, that has been certified by an insurer company officer or accredited actuary pursuant to the WCIRB Financial Call Data Certification at the time the issue was deemed significant enough to warrant remediation and assessment. In this way, the fine or assessment more appropriately corresponds to the impact of the issue to overall WCIRB data quality than a future pure premium level that may be very different.