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​WCIRB Governing Committee Proposes Decrease to Advisory WC Rates for 2020!

Thursday, September 5, 2019   (0 Comments)
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 WCIRB Governing Committee Proposes Decrease to Advisory WC Rates for 2020! 

CALPASC Director of Risk Management, Bruce Wick, attended the meeting on August 7, 2019. The actuarial committee is looking at a 5.7% decrease for 2020 renewals. The public member actuary proposes a further decrease of 3%. The review of first quarter results showed improved loss development and better long term trending. At some point, the decreases will stop, but this is good news for California employers and CALPASC members. These rates are advisory, and every insurer will make their own consideration and filing relative to these rates. Some insurers have been filing separate geographic rates, segmenting out the LA Basin and the rest of Southern California. Insurance Commissioner Lara will hold a public hearing on the proposal in late September, and issue a decision within 30 days from there.
 

 

 

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