SELECTED INDICATORS IN WORKERS’ COMPENSATION: A REPORT CARD FOR CALIFORNIANS
On May 31, 2006, the Insurance Commissioner approved a 16.4 percent decrease in advisory pure premium rates effective July 1, 2006, applicable to new and renewal policies as of the first anniversary rating date of a risk on or after July 1, 2006. In addition, the experience rating eligibility threshold was reduced to $16,971 to reflect the decrease in pure premium rates.
Advisory Workers’ Compensation Pure Premium Rates
A History since the 1993 Reform Legislation
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January 1, 2007
On October 10, 2006, WCIRB recommended a 6.3% decrease in advisory pure premium rates decrease for California policies incepting January 1, 2007.
Insurance Commissioner Approvals
On November 2, 2006, the Insurance Commissioner approved an average 9.5 percent decrease in advisory pure premium rates effective January 1, 2007, applicable to new and renewal policies with anniversary rating dates on or after January 1, 2007. As a result of the change in pure premium rates, the experience rating eligibility threshold was reduced to $16,000.
See the WCIRB website below for further details and updates to this information.