Calif. Workers’ Comp Loss and Expense Payments Increase Nearly 3%

California workers’ compensation insurer’s loss and expense payments totaled more than $11 billion in calendar year 2010, according to the California Workers’ Compensation Institute, which issued a report based on estimates released last month in the Workers’ Compensation Insurance Rating Bureau (WCIRB).

Insurers’ medical, indemnity and administrative expenses totaled just over $11 billion in calendar year 2010, excluding $153 million in indemnity and medical benefits paid by the California Insurance Guarantee Association. Direct earned premium was estimated at $9.677 billion last year, an increase from 2009’s $9.136 billion.

While the report indicates medical payments increased, indemnity payments remained about the same as the previous year.

Payments for agent and broker fees rose by $31 million (4.5 percent) to $727 million, fueled by a 5.9 percent increase in total premium, CWCI said.

For more information, visit www.cwci.org.

Topics California Trends Profit Loss Workers' Compensation