California workers comp written premium declines
Written workers comp premium in California for the first half of 2021 declined 8% from the same period in 2020, according to the latest quarterly experience report from the Workers’ Compensation Insurance Rating Bureau of California.
The WCIRB reported written premium of $7 billion as of June 30. It said it expects modest growth in written premium for the year, compared with 2020.
The WCIRB said industry average charged rates fell 5% in the first half of this year to $1.68 per $100 of payroll and was the lowest in decades.
Ultimate indemnity severities, excluding COVID-19 claims, increased 6% in 2020 to $28,203 from $26,636 in 2019. The WCIRB said the preliminary estimate was primarily based on temporary disability benefits paid on 2020 claims.
The WCIRB reported that ultimate medical severities, also excluding COVID-19 claims, decreased about 1% in 2020 to $28,364, from $28,739 in 2019.
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