WCIRB to amend rate filing to account for COVID-19 claims

The California Workers Compensation Insurance Rating Bureau voted Wednesday to amend its Jan. 1, 2021, pure premium rate filing to reflect updated information on COVID-19 claims, the ratings agency announced in a statement.

Oakland, California-based WCIRB’s governing committee did not amend the overall pure premium rate of $1.56 per $100 of payroll that was submitted to the state’s insurance commissioner in late August, but did modify the early recommendation of $0.06 per $100 of payroll on COVID-19 claim frequency to a range of $0.01 per $100 of payroll for the information sector to $0.24 per $100 of payroll for segments of the health care and social assistance industry sector.

The California Department of Insurance will hold a public hearing Oct. 5 to consider the rate filing.

More insurance and workers compensation news on the coronavirus crisis here.