California Workers’ Comp Written Premium Down 13%, Report Shows
California workers’ compensation written premium for the first quarter of 2021 was 13% below that for the first quarter of 2020, according to a quarterly experience report issued by the Workers’ Compensation Insurance Rating Bureau of California.
The WCIRB report is an update on California statewide insurer experience valued as of March 31.
Other highlights of the report include:
- The average charged rate for the first quarter of 2021 was 2% below that for 2020 and 41% below the peak in 2014.
- The projected loss ratio, including COVID-19 claims, for accident year 2020 is 5 points above that for 2019.
- The preliminary projected combined ratio for 2020, including COVID-19 claims, is 6 points higher than 2019 and 22 points higher than the low point in 2016.
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