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California comp direct written premium rises

rising chart

Direct written premium in California’s workers compensation system rose to $11.8 billion in 2023 from $11.6 the prior year, marking the third consecutive annual increase, according to a report released Friday by the California Workers’ Compensation Institute.

The CWCI said last year’s direct written premium was the highest since 2018.

The report, based on data from the National Association of Insurance Commissioners, said growth in covered wages last year drove direct written premium up by $220 million, or 1.9%.

The report looked at premium volume across 80 insurers representing 238 companies. The State Compensation Insurance Fund remained the largest California workers comp insurer, with $1.1 billion in premium, even though its premium fell by $36 million from 2022.