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Bifurcated Filing–Pure Premium Rates and Regulatory Changes

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Bifurcated Filing–Pure Premium Rates and Regulatory Changes

April 30, 2014

 

Trending Now: Proposing changes to the Insurance Commissioner's regulations and advisory pure premium rates.

In 2013, the WCIRB and the California Department of Insurance (CDI) worked together to modify the process by which the WCIRB proposed changes to the Insurance Commissioner's regulations and advisory pure premium rates. These changes are now proposed in two filings–a Regulatory Filing containing only proposed changes to the Insurance Commissioner's regulations, including the Standard Classification System and data reporting rules, and a Pure Premium Rate Filing containing proposed changes to advisory pure premium rates, related experience rating plan values and the experience rating eligibility threshold. The modified ("bifurcated") process is designed to give insurers, agents and brokers additional time to modify their systems and educate their policyholders regarding system changes.

The WCIRB is preparing to make its January 1, 2015 Regulatory Filing in June. The proposed changes are working their way through the WCIRB's various committees now. For information about these proposals, refer to the Classification and Rating Committee agendas and minutes available on the WCIRB website. Later this year in August, the WCIRB will make its January 1, 2015 Pure Premium Rate Filing, which will contain proposed changes to advisory pure premium rates, expected loss rates, credibility values, and the experience rating eligibility threshold. The data and analysis related to these proposals are contained in the Actuarial Committee agendas and minutes, which are also available on the WCIRB website. The WCIRB will provide notice of each filing to its members and the workers' compensation community via WCIRB Wire and other notices.

The WCIRB often receives questions regarding the issuance of experience modifications once the Insurance Commissioner issues a decision regarding a filing. The WCIRB will begin issuing January 1, 2015 experience modifications once a decision is issued on the Pure Premium Rate Filing, which contains the approved experience rating plan values. WCIRB Connect users will have access to experience modifications and experience rating worksheets within several days of the decision.

Where to Find It All Online

The Regulatory Filing, Pure Premium Rate Filing, rating plan values and related information are all available on the WCIRB website. The chart below shows where each of these documents may be found. 

Where to Find...

...on the WCIRB Website

  • Regulatory Filings
  • Pure Premium Rate Filings
  • Insurance Commissioner's Decisions
  • WCIRB Bulletins regarding a filing or decision

Publications and Filings > Regulatory Filings

  • Information or analysis leading up to the filing
  • Actuarial Committee Agendas/Minutes
  • Classification and Rating Committee Agendas/Minutes
  • Governing Committee Agendas/Minutes

About the WCIRB > Committees and Working Groups 

  • California Workers' Compensation Uniform Statistical Reporting Plan-1995
    • Approved Pure Premium Rates
  • California Workers' Compensation Experience Rating Plan-1995
  • Approved Expected Loss Rates
  • Approved Credibility Primary and Credibility Excess Values
  • Approved Experience Rating Eligibility Threshold

Publications and Filings > Manuals and Plans

Education on Demand

Don't forget to check out the WCIRB Education on Demand  library in the Learning Center of the WCIRB website. View video modules that explore workers' compensation topics such as the experience rating system, ownership rules and the Standard Classification System.

Browse the WCIRB Education on Demand video library> 

Future Editions

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