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Member, Beacon International Group, Ltd.
SAN FRANCISCO—The average rate that California employers paid for workers compensation coverage in 2009 was $2.35 per $100 of payroll, relatively flat compared with 2008, according to Workers’ Compensation Insurance Rating Bureau of California.
Meanwhile, workers comp indemnity claim frequency per premium dollar collected by California insurers increased 3% in 2009 from the prior year, according to the rating bureau.
Gross written premiums in 2009 dropped to $8.9 billion, down 17% from 2008, the WCIRB said in its summary of insurers’ experience. The decrease was due largely to falling employment, a WCIRB spokesman said.
The 3% increase in 2009 indemnity claim frequency resulted from an adjustment for the decrease in premium dollars. Overall, there was a 13% decrease in indemnity claims, but that was offset by reduced premiums, the WCIRB said.
The WCIRB estimated the average cost of an indemnity claim in 2009 at about $58,000, a 4% increase over 2008.
The report, which was released Wednesday, is available at https://wcirbonline.org.