California Proposes Decrease in Workers Comp Pure Premium Rates

The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) Governing Committee has approved the filing of a 16.4 percent decrease in advisory pure premium rates to be effective July 1, 2006, on new and renewal policies with anniversary rating dates on or after July 1, 2006. The WCIRB anticipates making the rate filing with the California Department on Insurance (CDI) on or around Friday, March 24. Once submitted to the CDI, the rate filing and related documents will be available in the Filings section of the WCIRB Web site http://wcirbonline.org.

The WCIRB is a California unincorporated, nonprofit association comprised of all companies licensed to transact workers’ compensation insurance in California and has more than 400 member companies.