Today, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) released its report on workers’ compensation losses and expenses for 2023.
To view the report, visit the Research Studies and Reports section of wcirb.com or click the link below.
Key findings in the report include:
- Medical losses paid in 2023 were $4.7 billion, or 53 percent of total loss payments.
- Indemnity benefits paid in 2023 were $4.2 billion, or 47 percent of total loss payments.
- Total insurer combined losses and expenses incurred in 2023 were $14.3 billion, or 91 percent of calendar year premium, compared to $15.0 billion, or 98 percent of calendar year premium, in 2022.
This report is prepared annually pursuant to Section 11759.1 of the California Insurance Code.