SELECTED INDICATORS IN WORKERS’ COMPENSATION: A REPORT CARD FOR CALIFORNIANS
At the end of 1999, the IC approved an 18.4 percent pure premium rate increase for 2000, and the market began to harden after five years of open rating, though rates remained less than two-thirds of the 1993 level. Since then, the market has continued to firm, with the IC approving a 10.1 percent increase in the advisory rates for 2001 and a 10.2 percent increase for 2002. The total written premium has increased by 37.2 percent to $21.4 billion from 2002 to 2003 and to $23.6 billion from 2002 to 2004. The written premium declined by 11 percent from 23.6 billion to 21.4 billion between 2004 and 2005 due to rate decreases.