The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has released its Quarterly Experience Report. This report is an update on California statewide insurer experience valued as of March 31, 2024.
Highlights of the report include:
- Written premium in 2023 is slightly above 2022, while written premium for the first quarter of 2024 is 3 percent lower than the first quarter of 2023.
- The average charged rate for the first quarter of 2024 is 1 percent lower than the first quarter of 2023 and the lowest in decades.
- The projected combined ratio increased by 2 points in accident year 2023, driven by increases in average claim severities offsetting premium increases.
The full report is in the Research Studies and Reports section of the WCIRB website and at the following link: