SELECTED INDICATORS IN WORKERS’ COMPENSATION: A REPORT CARD FOR CALIFORNIANS
In November 2006, several workers’ compensation insurance carriers filed pure premium rate decreases for policies effective in January 2007. The chart below summarizes these decreases.
California Workers’ Compensation Insurance Carrier Rate Filing Changes effective January 1, 2007
01/01/ 2007 % Filed Rate Change
Date Filing Received
STATE COMPENSATION INSURANCE FUND
ZENITH INSURANCE COMPANY
Zenith National Group
AMERICAN HOME ASSURANCE COMPANY
ZURICH AMERICAN INSURANCE COMPANY
Zurich Insurance Group
EMPLOYERS COMPENSATION INSURANCE COMPANY
VIRGINIA SURETY COMPANY, INC.
REPUBLIC INDEMNITY COMPANY OF CALIFORNIA
Great American Group
NATIONAL LIABILITY & FIRE INSURANCE COMPANY
EVEREST NATIONAL INSURANCE COMPANY
COMMERCE AND INDUSTRY INSURANCE COMPANY
The recent workers’ compensation rate filing changes noted above could be one of the signs that the workers’ compensation insurance market is becoming more stable and competitive.
Workers’ Compensation Earned Premium
The WCIRB defines earned premium as the portion of a premium that has been earned by the insurer for policy coverage already provided. For example, one-half of the total premiums will typically be earned six months into an annual policy term.