California Insurance Commissioner Ricardo Lara lowered the workers’ compensation insurance benchmark rate by 5 cents to $1.41 per $100 of payroll effective Sept. 1. Lara’s decision results in an average advisory pure premium rate that is below the $1.50 average …
Workers’ comp claim frequency among California’s private self-insured employers rose in 2020, fueled by a big increase in the incidence of indemnity claims, offsetting a decline in medical-only claim frequency, according to a new report from the California Workers’ Compensation …
The Workers’ Compensation Insurance Rating Bureau of California wrapped up testimony on Wednesday at a California Department of Insurance public hearing regarding the WCIRB’s Sept. 1, 2021 pure premium rate filing. The filing was submitted to the CDI in April …
The Texas Windstorm Insurance Association has posted its 2021 Rate Adequacy Analysis for public review. The analysis indicates that TWIA’s current rates are inadequate by 39% for residential coverage and 46% for commercial coverage. TWIA’s analysis consists of several PDF …
Colorado lawmakers are considering a bill that would prohibit insurance companies from using consumer information collected from outside sources such as social media and court and home ownership records to determine insurance rates. The measure would bar insurers from using …
Now that Washington Insurance Commissioner Mike Kreidler’s credit scoring ban has passed a key legal hurdle, he’s urging his colleagues in other states to consider similar actions. A Thurston County Superior Court judge on April 23 allowed Kreidler’s emergency rule …
Insurer groups expressed disappointment over a judge’s ruling denying an industry request to halt an emergency rule that temporarily bans the use of insurance credit scoring in Washington. The Independent Insurance Agents and Brokers of Washington, the Professional Insurance Agents …
The governing committee of the Workers’ Compensation Insurance Rating Bureau of California has voted to authorize the WCIRB to submit a Sept. 1, 2021 pure premium rate filing to the California Insurance Commissioner that are on average 2.7% above the …
California Insurance Commissioner Ricardo Lara has proposed new rules to give homeowners and businesses open access to their properties’ wildfire risk scores. The new rules would require insurance companies to provide a consumer with their property’s wildfire risk score, which …
For the first time in two decades, Washington workers’ compensation rates have dropped or stayed steady for four years in a row. The state Department of Labor & Industries on Monday announced there will be no increase for the average …
