On Thursday, the WCIRB testified at a California Department of Insurance (CDI) public hearing called to assess the impact of the recently-enacted Senate Bill 899 (SB 899) on advisory pure premium rates effective July 1, 2004. (See related story regarding comments from Insurance Commissioner John Garamendi).
In their testimony, the WCIRB’s President, Robert Mike, and the Chief Actuary, Dave Bellusci, described the ongoing effort by the WCIRB and others to evaluate this major reform legislation and its impact on California’s workers’ comp system.
Specifically, it was noted that the WCIRB is working with insurer representatives with specialized claims, legal, medical, and actuarial experience; as well as representatives from the Commission on Health and Safety and Workers’ Compensation; California Workers’ Compensation Institute; the Division of Workers’ Compensation; the University of California Berkeley Survey and Research Center; and the California Department of Insurance. This group will be reviewing the provisions of SB 899, analyzing its interaction with prior legislation (AB 749, AB 227, and SB 228), reviewing relevant research and analysis, and performing additional analysis as appropriate.
The WCIRB anticipates completion of its evaluation on or about May 13, at which time the WCIRB will submit its evaluation of SB 899 and its recommendations for changes to the pure premium rates and regulations to be effective July 1, 2004 to the CDI.
The CDI continued the public hearing to May 13, to consider the WCIRB’s anticipated recommendations. The hearing will be held at 2 p.m. in the Department of Insurance Public Hearing Room, 45 Fremont Street, 22nd Floor, San Francisco.
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