California proposesdecrease in workers comp pure premium rates

The Workers’ Compen- sation Insurance Rating Bureau of California (WCIRB) Governing Committee has approved the filing of a 16.4 percent decrease in advisory pure premium rates to be effective July 1, 2006, on new and renewal policies with anniversary rating dates on or after July 1, 2006.

The WCIRB anticipates making the rate filing with the California Department on Insurance (CDI) on or around Friday, March 24. 2006. Once submitted to the Department of Insurance, the rate filing and related documents will be available in the Filings section of http://wcirbonline.org.

The WCIRB recommended the decrease in pure premium rates based on an analysis of loss experience valued as of Dec. 31, 2005.

WCIRB is a California unincorporated, nonprofit association comprised of more than 400 member-companies licensed to transact workers’ compensation insurance in California.