Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Calif. comp insurers spent 91% of premiums on losses in 2017

Reprints
Calif. comp insurers spent 91% of premiums on losses in 2017

Total workers compensation insurer combined losses and expenses incurred in 2017 were $16.2 billion, or 91% of calendar year premium, compared with $16.9 billion, or 94% of calendar year premium, in 2016, the Oakland, California-based Workers’ Compensation Insurance Rating Bureau released in its annual report Tuesday.

The report also found that medical losses paid in 2017 were $4.7 billion, or 56% of total loss payments. Of these payments, $1.3 billion were paid for physician services, $1.3 billion were payments made directly to injured workers, $700 million were paid for inpatient or outpatient services, $200 million were paid for pharmaceuticals, and $300 million were paid for medical-legal evaluations, according to a post on WCIRB’s website.

The ratings agency also reported:

  • The total cost of medical cost containment programs in 2017 was $443 million, compared with $468 million in 2016.
  • Indemnity benefits paid in 2017 were $3.7 billion, or 44% of total loss payments. Of this amount, temporary disability benefits paid totaled $1.8 billion and permanent partial disability benefits paid totaled $1.5 billion.
  • Total insurer combined losses and expenses incurred in 2017 were $16.2 billion, or 91% of calendar year premium, compared with $16.9 billion, or 94% of calendar year premium, in 2016.

 

 

 

Read Next