Commissioner Issues Decision on 2014 Rate Filing
The California Insurance Commissioner has issued a Decision regarding the WCIRB’s January 1, 2014 Pure Premium Rate Filing approving advisory pure premium rates that average $2.70 per $100 of payroll effective January 1, 2014, which is 6.7% higher than the average filed pure premium rate as of July 1, 2013. The WCIRB in its October 23, 2013 amended Filing proposed advisory pure premium rates that average $2.75 per $100 of payroll. (See related story, Governing Committee Votes to Amend Filing.)
The WCIRB will begin calculating 2014 experience modifications shortly and expects to publish nearly all first quarter 2014 experience modifications by November 27, 2013.
The Decision, Filing and all related documents, including the approved advisory pure premium rates, expected loss rates and other experience rating plan values, are available in the Publications and Filings section of www.wcirb.com.
2014 Manuals and Plans Coming Soon
In late October, the Commissioner issued a separate Decision regarding the WCIRB’s January 1, 2014 Regulatory Filing in which he approved a number of significant changes to the workers’ compensation regulations contained in the California Workers’ Compensation Uniform Statistical Reporting Plan—1995, California Workers’ Compensation Experience Rating Plan—1995 and Miscellaneous Regulations for the Recording and Reporting of Data—1995. On November 25, 2013, the WCIRB will release the January 1, 2014 versions of these publications reflecting these approved changes. The publications will be available in the Manuals and Plans section of the website.