California Workers’ Comp Insurer Losses and Expenses $12B for 2020

The Workers’ Compensation Insurance Rating Bureau of California has released its latest report on workers’ comp losses and expenses for 2020.

Key findings in the report, 2020 California Workers’ Compensation Losses and Expenses include:

• Medical losses paid in 2020 were $4.2 billion, or 53% of total loss payments.
• Indemnity benefits paid in 2020 were $3.7 billion, or 47% of total loss payments. Of this amount, temporary disability benefits accounted for 53% of indemnity payments and permanent partial disability benefits accounted for 36%.
• Total insurer combined losses and expenses incurred in 2020 were $12 billion, or 85% of calendar year premium, compared to $13.2 billion (or 82% of calendar year premium) in 2019.

This report is prepared annually pursuant to California Insurance Code. Go to the Research section of wcirb.com to view the report.

Topics California Carriers Profit Loss Workers' Compensation