Workers’ Comp Rating Bureau Working on 2024 NAIC Terrorism Risk Insurance Data Call

The Workers’ Compensation Insurance Rating Bureau plans to submit to the National Association of Insurance Commissioners (NAIC) insurer-specific California workers’ comp terrorism exposure data, including policy counts, payroll and terrorism premium information, by March 1.

The data from the WCIRB, which as in past year makes the submission on the industry’s behalf, will allow the NAIC to monitor the affordability and availability of insurance coverage for acts of terrorism and assess insurers’ financial exposure to terrorism risk.

The data call is separate from the Federal Insurance Office (FIO) terrorism data call. For the FIO data call, the WCIRB will report on insurers’ behalf the California workers’ comp insurance elements of the data call relating to premium and payroll information, except for private reinsurance arrangements associated with workers’ comp insurance.