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Governing Committee Authorizes Regulatory Filing

Earlier today, the insurer and public members of the WCIRB Governing Committee voted unanimously to authorize the WCIRB to submit a January 1, 2015 Regulatory Filing to the California Department of Insurance (CDI). The Filing will contain proposed amendments to the Insurance Commissioner’s regulations contained in the California Workers’ Compensation Uniform Statistical Reporting Plan—1995 (USRP), California Workers’ Compensation Experience Rating Plan—1995 (ERP), and the Miscellaneous Regulations for the Recording and Reporting of Data—1995. The WCIRB anticipates submitting the Filing within one week—perhaps as soon as Friday, June 13, 2014.

Among the items contained in the Filing are:

  • Proposed changes to a number of classifications based on industry studies conducted by WCIRB staff and subsequently approved by the Classification and Rating Committee.
  • Proposed clarifying amendments to 121 classifications based on the WCIRB’s multi-year project to enhance the standard classifications contained in the USRP with clarifying information from the Advisory California Classification Reference (ed. 2012).
  • Proposed increase in the Physical Audit Threshold from $10,000 to $13,000 to reflect inflation in wages and insurer rates since the threshold was last changed in 2007.
  • Proposed increases in executive officer minimum and maximum payroll limitations, and an increase in the minimum annual payroll per taxicab.

Once the Filing is submitted to the CDI, the WCIRB will issue a WCIRB Wire story and all documents related to the Filing—including the CDI’s Notice of Proposed Action when issued—may be viewed, printed or downloaded from the Publications and Filings section of the website (www.wcirb.com).

This Filing will not include proposed changes to the advisory pure premium benchmark or proposed pure premium rates. Changes to advisory pure premium rates are proposed in a separate filing which normally occurs in August.

Related Information

Regulatory Filings

Bifurcated Filing–Pure Premium Rates and Regulatory Changes

 

June 11, 2014