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Since the workers’ compensation reforms of 2003, most California employers have seen a steady and welcome decline in their workers’ comp insurance premiums. But rates may be headed in the other direction starting in 2009.
California Insurance Commissioner John Garamendi has announced he will likely recommend a further workers’ compensation insurance pure premium rate cut of at least 6.3 percent—which would bring the cumulative rate decreases to 58 percent since workers’ comp reform measures were implemented back in 2003.
Delay Penalties and Utilization Review AB 1557 provides that an employee isn’t entitled to the usual 10 percent increase in workers’ compensation benefits for an unreasonable delay in providing medical treatment if the delay was necessary to complete the new utilization review process required of employers by the workers’ comp reform legislation (see below).
Gov. Davis has signed landmark legislation to reform California’s troubled workers’ compensation system and put a lid on the upward spiral in workers’ comp costs faced by California employers. And now, after having pored over the numbers, the Workers’ Compensation Insurance Rating Bureau (WCIRB) has recommended that the 12 percent pure premium rate increase scheduled […]
Over the past year, many employers have seen a huge jump in their workers’ comp premiums—and even bigger hikes may be on the way. The Workers’ Compensation Insurance Rating Bureau has just reported that the California workers’ compensation insurance industry is under-reserved by a startling $13.7 billion. The WCIRB attributes the deficit to, among other […]
The Workers’ Compensation Insurance Rating Bureau has just voted to amend its recommendation for an increase in pure premium rates for 2003. Back in July, the California insurance commissioner approved the WCIRB’s recommendation for an 11.9% increase in the rates. But based on a review of new data reported by insurers reflecting a rise in […]