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SELECTED INDICATORS IN WORKERS’ COMPENSATION:  A REPORT CARD FOR CALIFORNIANS

California Workers’ Compensation Insurance Industry

Workers’ Compensation Insurer Expenses

Combined Loss and Expense Ratios

The accident-year combined loss and expense ratio, which measures workers’ compensation claims payments and administrative expenses against earned premium, increased during the late 1990s and has been declining since that time.  In accident-year 2005, insurers’ claim costs and expenses amounted to $0.55 for every dollar of premium they collected, which is the lowest combined ratio projected by the WCIRB since the inception of competitive rating and reflects the estimated impact of AB 227, SB 228, and SB 899 on unpaid losses.

Insurance Companies’ Reserves

The WCIRB estimates that the total cost of benefits on injuries occurring prior to January 1, 2006, is $7 billion less than insurer-reported loss amounts.

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