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, 2023.
Highlights of the report include:
- California written premium in 2022 is 14 percent above that for 2021, driven by higher employee wage levels and the economic recovery.
- The average charged rate for 2022 is 8 percent below that for 2021 and the lowest in decades.
- After four consecutive increases, the projected loss ratio, including the cost of COVID-19 claims, dropped 3 points in accident year 2022.
- The projected combined ratio for 2022, including COVID-19 claims, is 7 points lower than in 2021.
The full report is in the Research section of the WCIRB website and at the following link: