3.4% pure premium workers comp rate proposed for CaliforniaPosted On: Aug. 7, 2013 12:00 AM CST
California's Workers Compensation Insurance Rating Bureau on Wednesday proposed a 3.4% increase in advisory pure premium workers compensation rates for 2014.
In a statement, the San Francisco-based agency said it will seek an advisory rate of $2.62 per $100 of payroll as of Jan. 1, 2014. That compares with a pure premium rate of $2.53 per $100 of payroll as of July 1 this year.
WCIRB said the proposed rate includes an evaluation of workers comp reforms that were approved by the state late last year.
WCIRB's governing committee unanimously approved the rate proposal Wednesday. The agency said it plans to submit its filing to the California Department of Insurance on or about Aug. 19.