California’s Workers’ Comensation Insurance Rating Bureau has recommended that pure premium rates be increased to 5.2 percent, instead of the 4.2 percent recommended earlier in September.
In September, WCIRB submitted a pure premium rate filing to the California Department of Insurance (CDI) recommending, among other things, an increase in pure premium rates of 4.2 percent effective Jan. 1, 2008 with respect to new and renewal policies as of the first anniversary rating date of a risk on or after Jan. 1, 2008. On Oct. 13, 2007, Governor Arnold Schwarzenegger signed Assembly Bill No. 338 which extends the time period for which temporary disability payments may be taken. Based on the analysis of the bill, WCIRB has amended its Jan. 1, 2008 pure premium rate filing to propose an overall 5.2 percent increase in pure premium rates in lieu of 4.2 percent.
A public hearing on the matters contained in the WCIRB’s filing will be held Tuesday, Oct. 23, 2007, at 9:30 a.m. in the 22nd Floor Hearing Room at 45 Fremont Street, San Francisco.
The amended filing and all related documents may be viewed and downloaded from the Regulatory Filings section of the Web site https://wcirbonline.org/resources/rate_filings/2008_rate_filings.html.
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