CDI Approves AB 749 Premium Increase Endorsement Forms

On Oct. 18, 2002, Calif. Insurance Commissioner Harry Low issued a decision regarding the WCIRB’s pure premium rate filing, which was submitted to the Commissioner on July 31, 2002.

In his decision, the Insurance Commissioner approved (a) increases in the 1999, 2000, 2001 and 2002 advisory pure premium rates to reflect the cost impact of Assembly Bill 749 on pre-Jan. 1, 2003 injuries and (b) a 4.9 percent increase in the advisory pure premium rates applicable to the unexpired portion of outstanding policies with anniversary rating dates on or after Jan. 1, 2002, as of Jan. 1, 2003, to reflect the cost impact of AB 749 on the cost of injuries incurred on or after Jan. 1, 2003.

The Insurance Commissioner has approved four advisory endorsement forms (WC 04 04 12, WC 04 04 13, WC 04 04 14, and WC 04 04 15) for use by insurers that choose to apply the approved rate increases.