Calif. Workers’ Comp Written Premiums Down 17% in Q1

The Workers Compensation Insurance Rating Bureau of California has released the results of its report summarizing insurer loss and premium experience through March 31, 2007.

According to the report: “California written premium (gross of deductible credits) reported for the first quarter of 2007 is
estimated at $4 billion, approximately 17 percent below the written premium reported for the first quarter of 2006. The average statewide insurer rate (final insurer rates reflecting all rating plan adjustments
except deductible credits, retrospective rating plan adjustments, and policyholder dividends) per $100 of payroll for policies written in the first quarter of 2007 is $2.93, 23 percent below the average rate charged for the first six months of 2006 and 55 percent below the
average rate charged in the second six months of 2003.”

To view the full report and analysis, visit https://wcirbonline.org/resources/data_reports/pdf/073103_insurer_exp_report.pdf.

Source: WCIRB