Advertise
Resources
Member, Beacon International Group, Ltd.
Written premium for California workers compensation insurers reached $16.5 billion last year, up 11% from 2013, the California Workers’ Compensation Insurance Rating Bureau says.
Meanwhile, the loss ratio for California workers comp insurers last year was 103%, Oakland, California-based WCIRB said in a report released Monday. While California’s combined ratio has improved since 2010, WCIRB said 2014 was the seventh consecutive year that the state has seen combined ratios over 100%.
WCIRB said California workers comp indemnity claim frequency for 2014 is projected to be 1.2% higher than indemnity frequency in 2013.
“The frequency increases experienced over the last few years are largely attributed to increases in cumulative injury claims, late reported indemnity claims, claims involving injuries to multiple body parts, and claims from the Los Angeles area,” according to the report.
California workers compensation claims administrators who conduct utilization reviews received a 97% performance rating for 2013, surpassing the 85% benchmark that state insurance regulators consider a passing grade for such reviews, the California Workers' Compensation Institute said.