The California Department of Insurance (CDI) announced that it will hold a public hearing on May 3, 2017 to consider the WCIRB’s July 1, 2017 Pure Premium Rate Filing which was submitted to the CDI on April 11, 2017.
The hearing will be held:
May 3, 2017 at 10:30 AM PT
California Department of Insurance
45 Fremont Street
22nd Floor Hearing Room
San Francisco, CA 94105 Read More >
Today, the WCIRB submitted a July 1, 2017 Pure Premium Rate Filing to the California Department of Insurance (CDI) proposing advisory pure premium rates that average $2.02 per $100 of payroll effective July 1, 2017. The average proposed advisory pure premium rate is 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 Insurance Commissioner's approved average January 1, 2017 advisory pure premium rate of $2.19. Read More >
Citing lower medical loss and allocated loss adjustment expense development, continued acceleration in claim settlement, and recent indemnity claim frequency decreases, the insurer and public members of the WCIRB Governing Committee who were in attendance voted unanimously today to authorize the WCIRB to submit a mid-year pure premium rate filing to the California Department of Insurance (CDI). Read More >
The WCIRB Governing Committee will meet on Wednesday, April 5, 2017 at the WCIRB’s office in Oakland, California.
The Governing Committee will review the Actuarial Committee’s analysis of insurer experience as of December 31, 2016 and consider whether a mid-year pure premium rate filing is warranted.
The full agenda, including the location and time of the meeting, is available in the Committee Meeting Documents page of the WCIRB’s website (www.wcirb.com). Read More >
The WCIRB Actuarial Committee will meet on Monday, April 3, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will review loss adjustment expense experience and insurer experience valued as of December 31, 2016, alternative loss development and trending methodology projections in the summary analysis for December 31, 2016 experience, computation of industry average filed rates as of January 1, 2017, and a new drug formulary proposed by the Division of Workers’ Compensation (DWC). Read More >
Executives representing more than 75% of the WCIRB's regular membership met today in Oakland for the 101st Annual Meeting of the WCIRB. At the meeting, the WCIRB membership elected new insurer members to the Governing Committee and Classification and Rating Committee to fill vacancies created by expiring terms.
Members voted on the nominees to fill vacancies on the Governing Committee and Classification and Rating Committee. Committee members elected at today’s meeting will serve three-year terms expiring at the Annual Meeting in 2020. Read More >
The WCIRB Actuarial Committee will meet on Tuesday, March 21, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will review the First Quarter 2017 summary of system diagnostics, insurer experience valued as of December 31, 2016, study of claim settlement rate adjustments to loss development and potential experience rating changes related to the treatment of small medical claims. Read More >