WCIRB Submits January 1, 2014 Filing
Today, the WCIRB submitted its January 1, 2014 Pure Premium Rate Filing to the California Department of Insurance (CDI) proposing advisory pure premium rates that average $2.70 per $100 of payroll effective January 1, 2014. The average proposed advisory pure premium rate in the filing is approximately 6.9% higher than the industry average filed pure premium rate of $2.53 as of July 1, 2013.
This indicated average pure premium rate reflects insurer loss and loss adjustment experience valued as of June 30, 2013, but does not reflect any provision for the impact of potential changes to the Official Medical Fee Schedule to a Resource-Based Relative Value Scale (RBRVS) basis, which are currently under consideration by the Division of Workers’ Compensation. The Governing Committee will meet on October 23, 2013 to consider the impact of any adopted changes to the fee schedule and whether an amendment to the WCIRB’s proposed January 1, 2014 pure premium rates is appropriate.
The CDI will schedule a public hearing to consider the Filing. Once the Notice of Proposed Action and Notice of Public Hearing is issued, the WCIRB will post a copy in the Regulatory Filings section of the website (www.wcirb.com).
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