Download Available: Double Down on Safety-Workers Comp Rates Are Going Up email
Workers’ Compensation Insurance Rates Are Going Up: The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has submitted a mid-year 9.1% increase in the advisory rate to the Department of Insurance. This follows a 37% increase Commissioner Jones approved on January 1, 2012, but the increase for some bureaucratic procedures were hidden from the public. In a horrible economy where businesses are already in trouble, this could not have come at a worse time. And this just off the press; the WCIRB is recommending a 10+ percent increase in the underlying pure premium rates for January 2013. There are reasons that can explain this increase and dealers are encouraged to improve their mod-ratio, i.e., improve safety and reduce workplace injuries.