The Workers’ Compensation Insurance Rating Bureau of California issued its Quarterly Experience Report, an update on California statewide insurer experience valued as of Dec. 31, 2022.
Highlights of the report include:
California written premium in 2022 was 14% above that for 2021, driven by higher employee wage levels and the economic recovery.
The average charged rate for 2022 was 7% below that for 2021 and the lowest in decades.
The projected loss ratio, including the cost of COVID-19 claims, dropped 4 points in accident year 2022.
The projected combined ratio for 2022, including COVID-19 claims, is 5 points lower than in 2021.
The full report is on the WCIRB website.
Topics California Workers' Compensation
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