California proposed comp premium rate filing amended

The California Workers Compensation Insurance Rating Bureau’s Governing Committee voted to amend the WCIRB’s Jan. 1, 2018, pure premium rate filing with a 2% cut on Wednesday.

The vote to amend the filing was based on the Actuarial Committee’s review of June 30, 2017, loss experience, “which showed lower than anticipated loss development in the second quarter,” WCIRB said in a statement. 

The amended filing will propose an advisory pure premium rate of $1.96 per $100 of payroll instead of $2.01 per $100 of payroll that was proposed in the Aug. 18, 2017, filing. An amended filing will be submitted to the insurance commissioner next week, according to the statement.