Today, the California Insurance Commissioner issued a decision regarding the WCIRB’s July 1, 2017 Pure Premium Rate Filing (Filing) which was submitted to the California Department of Insurance on April 11, 2017. A public hearing regarding the Filing was held on May 3, 2017.
In his decision, the Commissioner approved the advisory pure premium rates proposed by the WCIRB that average $2.02 per $100 of payroll effective July 1, 2017. The approved advisory pure premium rates are 16.5% lower than the corresponding industry average filed pure premium rate of $2.42 as of January 1, 2017 and 7.8% less than the average approved January 1, 2017 advisory pure premium rate of $2.19.
The Insurance Commissioner’s Decision and electronic files containing the approved July 1, 2017 advisory pure premium rates may be downloaded from the Filings and Plans section of the WCIRB website (www.wcirb.com).
The “WCRATE” file with the abbreviated class wording and the approved July 1, 2017 advisory pure premium rates is also available for download in the Filings and Plans section.