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

Ratings agency to watch for COVID-19-related premium adjustments

Reprints
workers comp

To comply with the California insurance commissioner’s directive to monitor the effect of COVID-19 claims on premium costs, the Workers’ Compensation Insurance Rating Bureau of California issued a notice Wednesday that it will be modifying its quarterly call to collect information on member COVID-19 premium charges in 2021 and later policies.

Under an order attached to the WCIRB’s Jan. 1, 2021, pure premium rate filing, the commissioner stated that insurers “shall submit any rate component and/or rating plan that includes an adjustment for COVID-19; the filed rates and rating plans in 2021 shall reflect the expected cost of COVID-19 claims on the policies to which they apply and be clearly identified in the rate filings submitted” to the Department of Insurance.

The commissioner also directed the WCIRB to collect “data of aggregate premium charged for any rate component and/or rating plan that includes an adjustment for COVID-19.”

More insurance and workers compensation news on the coronavirus crisis here

 

 

 

Read Next