On Sept. 11, the WCIRB Governing Committee authorized amending the WCIRB’s proposed 2003 pure premium rate filing, which was submitted to the California Department of Insurance (CDI) on July 31, 2002.
Specifically, the WCIRB will amend the proposed pure premium rates applicable to 2003 policies to reflect an average increase of 13.4 percent in lieu of the 11.9 percent increase proposed in the July 31, 2002 filing. This amendment is predicated on review of loss experience through June 30, 2002.
With the exception of the proposed experience rating threshold, which will reflect the higher indicated pure premium rate increase, other elements of the WCIRB’s original filing will be unaffected. The CDI has scheduled a public hearing for Friday, Sept. 20, in San Francisco, to consider the WCIRB’s filing. The WCIRB will submit an amended filing to the CDI prior to that time.
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