WCIRB Wire
In this section, you will find current news, stories, and announcements from the WCIRB. You may also view the WCIRB Wire archive for stories from the past year.
July 20, 2017
WCIRB.com will soon have a vibrant new look and feel along with streamlined navigation making it easier for customers to access important publications, reports, educational content and the most popular online tools such as the Classification Search and Experience Modification Estimator.
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July 7, 2017
The California Department of Insurance (CDI) announced that it will hold a public hearing on August 15, 2017 to consider the WCIRB’s January 1, 2018 Regulatory Filing which was submitted to the CDI on June 27, 2017.
The hearing will be held:
August 15, 2017 at 10:00 AM
California Department of Insurance
45 Fremont Street
22nd Floor Hearing Room
San Francisco, CA 94105
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July 6, 2017
The WCIRB has launched the 2018 Experience Modification Estimator (Estimator) for insurers, agents and brokers to help policyholders understand how their payroll and claim experience will be used in the computation of their 2018 experience modification. By entering payroll, classification and claims information into the Estimator, users can obtain an estimated experience modification using proposed 2018 Experience Rating Plan values including expected loss rates, D-ratios and primary thresholds that vary by employer size.
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June 28, 2017
The WCIRB is excited to announce the next generation of customer enabling solutions — a web service that provides insurers with 24/7 real-time access to key risk level data including: Experience Modifications, named insureds, policy addresses and assigned classifications. This is a significant step forward in our efforts to modernize how information is exchanged.
This service is set to go live in August 2017 — in time to provide insurers instant access to complete and accurate information as they prepare their 2018 policies.
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June 28, 2017
The WCIRB has released its report on workers' compensation losses and expenses for 2016. The report is prepared annually pursuant to Section 11759.1 of the California Insurance Code.
Among the findings included in the report:
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June 27, 2017
Today, the WCIRB submitted to the California Department of Insurance (CDI) a January 1, 2018 Regulatory Filing that proposes changes to the Insurance Commissioner’s regulations contained in the California Workers’ Compensation Uniform Statistical Reporting Plan–1995 (Uniform Statistical Reporting Plan), the California Workers’ Compensation Experience Rating Plan–1995 (Experience Rating Plan), and the Miscellaneous Regulations for the Recording and Reporting of Data–1995 (Miscellaneous Regulations).
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June 8, 2017
The WCIRB Actuarial Committee will meet on June 16, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will review insurer experience valued as of March 31, 2017, the most current information on medical severities by component, the WCIRB’s adjustments for differences in wage growth by classification and proposed Experience Rating Plan values for the January 1, 2018 Regulatory Filing.
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June 7, 2017
The WCIRB Governing Committee will meet on June 14, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will consider proposed changes to the Standard Classification System and the Experience Rating Plan which, if approved, will be included in the WCIRB’s January 1, 2018 Regulatory Filing to the California Department of Insurance. The Committee will also review potential classification research studies to be undertaken in preparation for the January 1, 2019 Regulatory Filing to be submitted in June 2018.
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June 1, 2017
The WCIRB Classification and Rating Committee will meet on June 14, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will review potential classification research studies and projects for the January 1, 2019 Regulatory Filing.
The full agenda, including the location and time of the meeting, is available on the Committee Meeting Documents page in the Publications and Filings section of the WCIRB’s website (www.wcirb.com).
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May 22, 2017
The WCIRB Classification and Rating Committee will meet on June 1, 2017 at the WCIRB’s office in Oakland, California.
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May 22, 2017
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.
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May 3, 2017
Earlier today, the WCIRB testified at a California Department of Insurance (CDI) public hearing regarding the WCIRB’s July 1, 2017 Pure Premium Rate Filing which was submitted to the CDI on April 11, 2017.
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April 14, 2017
The WCIRB Classification and Rating Committee will meet on April 25, 2017 at the WCIRB’s office in Oakland, California.
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April 14, 2017
The WCIRB has completed its report on statewide workers’ compensation insurer loss and premium experience through December 31, 2016. The major findings of the report include:
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April 13, 2017
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
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April 11, 2017
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.
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April 5, 2017
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).
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March 31, 2017
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).
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March 29, 2017
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).
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March 23, 2017
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.
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March 14, 2017
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.
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March 1, 2017
The WCIRB Classification and Rating Committee will meet on March 14, 2017 at the WCIRB’s office in Oakland, California.
At the meeting, the Committee will review the following items:
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January 5, 2017
The WCIRB has completed an analysis of allocated loss adjustment expense (ALAE) cost trends in California workers’ compensation.
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