At its meeting today, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) Governing Committee voted to amend its January 1, 2021 Pure Premium Rate Filing that was submitted to the Insurance Commissioner on August 26, 2020.
While not amending the overall average pure premium rate of $1.56 per $100 of payroll, the WCIRB will be amending individual proposed advisory pure premium rates by classification to reflect updated information on the frequency of COVID-19 claims by industry sector. These amounts, while averaging $0.06 per $100 of payroll as in the WCIRB’s original filing, range from $0.01 per $100 of payroll for the Information industry sector to $0.24 per $100 of payroll for segments of the Healthcare and Social Assistance industry sector.
The amended filing will be submitted to the Insurance Commissioner within the next week and will be posted on wcirb.com once it is available. The California Department of Insurance (CDI) will hold a public hearing on October 5, 2020 to consider the rate filing.