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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

COMPANY NAME

GROUP NAME

01/01/ 2007  % Filed Rate Change

Date Filing Received

STATE COMPENSATION INSURANCE FUND

-11.00%

11/27/2006

ZENITH INSURANCE COMPANY

Zenith National Group

-4.40%

11/28/2006

AMERICAN HOME ASSURANCE COMPANY

AIG Group

-10.90%

11/28/2006

ZURICH AMERICAN INSURANCE COMPANY

Zurich Insurance Group

-7.50%

12/04/2006

EMPLOYERS COMPENSATION INSURANCE COMPANY

Employers Group

-9.90%

11/28/2006

VIRGINIA SURETY COMPANY, INC.

Aon Corporation

-9.50%

11/15/2006

REPUBLIC INDEMNITY COMPANY OF CALIFORNIA

Great American Group

-7.30%

11/20/2006

NATIONAL LIABILITY & FIRE INSURANCE COMPANY

Berkshire Hathaway

-7.70%

11/08/2006

EVEREST NATIONAL INSURANCE COMPANY

Everest Group

-7.90%

11/27/2006

COMMERCE AND INDUSTRY INSURANCE COMPANY

AIG Group

-10.90%

11/28/2006

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.

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