The WCIRB completed a review of the California industry experience on April 1st and came to the conclusion that pure premium rates need to increase by 39.8%. After reviewing these reports, the Bureau’s analysis showed continued industry deterioration, primarily in medical costs. In addition, the industry has increased the costs associated with claims and defending cases.
The WCIRB’s governing committee decides the final rate increases, and its decisions usually closely align with those of the WCIRB.
The WCIRB’s governing committee met on April 6th and opted against a mid-year rate filing. "I think we can do a lot more good by focusing on an informational filing and the parties can take that information and use it," employer representative Bruce Wick told the committee. He notes that this will allow carriers and the legislature to use the data to address the underlying drivers without scaring employers to the point that they move out of state