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California written premium in workers compensation through the second quarter of 2019 is 7% below the same period for 2018, suggesting that the 2019 premium decrease will also be “significant,” representing a third consecutive year of premium decreases, according to a report released Monday by the Workers’ Compensation Insurance Rating Bureau of California.
Written premium for 2018 was 4% below that for 2017 and 6% below that for 2016; decreases the WCIRB says in its quarterly report are “primarily driven by decreases in insurer charged rates more than offsetting increases in employer payroll.”
Other highlights of the report that focuses on insurer experience through June 30 include:
The average workers compensation rates charged by insurers operating in California is trending lower, but the projection of the sector’s combined ratio is inching up, according to a new report.