On June 29, 2023, the Insurance Journal reported that the total workers’ compensation-related expenses and losses incurred by insurance companies in California in 2022 is approximately $15 billion. The full report was put together by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB). California state law mandates that workers’ compensation insurers provide comprehensive financial […]
Category Archives: WCIRB
According to reporting from Insurance Journal, a recent analysis published by the Workers’ Compensation Insurance Rating Bureau (WCIRB) found that nearly half of the workers’ compensation claims filed within the health care industry were due to COVID-19. However, on an industry-wide basis, workers’ compensation rates in the industry remain below the state average. In this […]
According to a report from Insurance Journal, it takes significantly longer to close the average workers’ compensation claim in California than it does in most other states. While it takes seven years for 90% of workers’ compensation claims to be closed in California, it only takes three years to do so in the median U.S. […]
According to a report from the Insurance Journal, the written premium for California workers’ claims in 2021 was 2% lower than 2020 and 14% lower than 2019. The decrease was driven largely by a drop in the charged workers’ compensation insurance rate. Here, our Fresno workers’ compensation defense lawyer provides a more in-depth assessment of […]
According to a report from Business Insurance, so-called “frictional” workers’ compensation costs are down in 2021—but they still remain high in California. In fact, the frictional costs of the workers’ compensation system in California is nearly twice as high as the national average. Here, our Fresno workers’ compensation defense attorneys highlight the key things to […]
On June 25, 2021, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) released its official report on workers’ compensation “losses and expenses” for the year 2020. In total, workers’ compensation insurers paid out more than $12 billion to process and resolve claims in California last year—a nearly 10% decrease when compared to 2019. In […]
According to a report from the Insurance Journal, the committee governing the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) has voted to move forward with a 2.7% increase to the “pure premium” of workers’ compensation rates. The governing committee of the WCIRB cited both the COVID-19 pandemic and other structural changes as significant factors […]