The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for eleven states and the District of Columbia that were published by the NCCI based on the terrorism model developed by EQECAT, a nationally recognized catastrophe modeling firm. In addition to including the “lower range” and “upper range” estimates of terrorism loss costs per $100 of payroll, the summary shows several multi-jurisdiction averages and comparisons of the lower and upper range estimates to 2003 California loss costs.
The WCIRB is contracting with EQECAT to develop estimates of potential terrorism losses for California. It is anticipated that the results of this effort will be available by the end of February and published shortly thereafter. The results may also form the basis of a WCIRB advisory or pure premium rate filing.