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SAN FRANCISCO—California workers compensation underwriters reported that written premiums rose $1 billion to $10.8 billion during 2011, the Workers' Compensation Insurance Rating Bureau of California reported Wednesday.
The written premium for 2011 is the largest amount since 2007, when it totaled $13 billion, the WCIRB stated in its 2011 fourth-quarter insurer experience report.
Among other findings, the WCIRB said it projects insurers' 2011 accident-year combined loss and expense ratio to be 126%.
“While below the WCIRB's projected combined ratios of 132% for 2009 and 133% for 2010 due to increased premium in 2011, the accident-year 2011 combined ratio represents the fourth consecutive year with a combined ratio well above 100%,” the rating bureau said.
The report is available at https://wcirbonline.org.