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WCIRB Reports on State of the Workers’ Comp System

Updated on August 8, 2014 to include video recording of the webinar added. See link below.

The WCIRB has released the new WCIRB Report on the State of the California Workers’ Compensation Insurance System (Report). The Report, which the WCIRB plans to update annually, summarizes the cost of workers’ compensation insurance based on premiums paid by insured employers, shows how premium dollars are distributed among various system components, and identifies key cost drivers such as frequency and the average cost of claims. The Report also contains a brief summary of how post-Senate Bill No. 863 (2012) costs are emerging compared to initial projections.

The Report summarizes information that was first presented at the WCIRB’s Annual Workers’ Compensation Conference held in June. WCIRB President and CEO Bill Mudge commented, “This Report and its widespread distribution are directly aligned with our mission to provide objective, actuarially based information and data that informs and is integral to a healthy workers’ compensation system. We believe all stakeholders – including employers, agents and brokers, insurers and policy makers – will find great value in this new annual perspective on California’s workers’ compensation system.”

The WCIRB will conduct a live webinar on August 7, 2014 to discuss the Report and attendees will have an opportunity to submit questions directly to the Report’s authors. Registration information is shown below. The webinar is open to the public and a recording of the webinar will be posted to the WCIRB website for those who cannot attend the live presentation.
 

VIDEO: State of the California Workers’ Compensation System Webinar (57 min)
Presenters: Dave Bellusci, EVP, COO and Chief Actuary
Tony Milano, VP, Actuary

To view or print the Report, click the link below.

WCIRB Report on the State of the California Workers’ Compensation Insurance System 

 

August 5, 2014