REPORT ON INSURER EXPERIENCE RELEASED:

The Workers’ Compensation Insurance Rating Bureau (WCIRB) has completed its report summarizing insurer loss and premium experience through June 30, 2004. The report stated the following conclusions: written premium (gross of deductible credits) reported for the first half of 2004 is $12.5 billion. This is approximately 25 percent above the written premium reported for the half of 2003; indemnity claim frequency for the first six months of 2004 is estimated to be 12 percent lower than for the first six months of 2003; and the average statewide insurer rate (final insurer rates reflecting all rating plan adjustments except deductible credits, retrospective rating plan adjustments, and policyholder dividends) per $100 of payroll for policies written in the first half of 2004 is $5.76. This is 10 percent below the average rate charged for the second six months of 2003.

Topics Carriers