Printed from BusinessInsurance.com

California workers comp written premium declines

Posted On: Sep. 29, 2021 9:41 AM CST

comp

Written workers comp premium in California for the first half of 2021 declined 8% from the same period in 2020, according to the latest quarterly experience report from the Workers’ Compensation Insurance Rating Bureau of California.

The WCIRB reported written premium of $7 billion as of June 30. It said it expects modest growth in written premium for the year, compared with 2020.

The WCIRB said industry average charged rates fell 5% in the first half of this year to $1.68 per $100 of payroll and was the lowest in decades.

Ultimate indemnity severities, excluding COVID-19 claims, increased 6% in 2020 to $28,203 from $26,636 in 2019. The WCIRB said the preliminary estimate was primarily based on temporary disability benefits paid on 2020 claims.

The WCIRB reported that ultimate medical severities, also excluding COVID-19 claims, decreased about 1% in 2020 to $28,364, from $28,739 in 2019.

WorkCompCentral is a sister publication of Business Insurance. More stories here.

Â