WCIRB July 1, 2017 Pure Premium Rate Filing Decision
On April 11, 2017, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) issued a Bulletin advising members that a pure premium rate filing had been submitted to the California Insurance Commissioner that day. In the filing, the WCIRB proposed July 1, 2017 advisory pure premium rates that averaged $2.02 per $100 of payroll, which was 7.8% below the average of the approved January 1, 2017 advisory pure premium rates and 16.5% lower than the industry average filed pure premium rate as of January 1, 2017. A public hearing on the matters contained in the WCIRB’s filing was held on May 3, 2017 and the record was kept open following the hearing until the close of business on May 4, 2017.
The Insurance Commissioner issued a Decision dated May 22, 2017, CDI File No. REG 2017-00006, with respect to all matters contained in the WCIRB’s pure premium rate filing. The Insurance Commissioner approved the WCIRB’s proposed advisory pure premium rates with respect to new and renewal policies as of the first anniversary rating date of a risk on or after July 1, 2017. The approved advisory pure premium rates average $2.02 per $100 of payroll.
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Shin "Simon" Yang - Certified Work Comp Adviser