California Insurance Commissioner OKs Workers’ Comp Rating Bureau Filing
California Insurance Commissioner Dave Jones has approved a filing from the Workers’ Compensation Insurance Rating Bureau’s that makes amendments to uniform statistical reporting and experience rating.
The WCIRB submitted a regulatory filing and ensuing amendments to the filing in Aug. 1 which was followed by a public hearing was held on Aug. 3.
Jones’ decision Oct. 12 decision includes:
Proposed amendments to Classifications 8868 and 9101 and the proposed establishment of Classifications 8869, 8871, 8872, 8873, 8874, 8876 and 9102 were not approved. - All other proposed amendments to the California Workers’ Compensation Uniform Statistical Reporting Plan—1995, Miscellaneous Regulations for the Recording and Reporting of Data—1995, and California Workers’ Compensation Experience Rating Plan—1995 effective Jan. 1, 2019 were approved as filed.
- The proposed amendments to the California Workers’ Compensation Uniform Statistical Reporting Plan—1995 effective January 1, 2020 were approved as filed.
- The WCIRB’s proposed Jan. 1, 2019 expected loss rates by classification were approved with the exception of the proposed expected loss rates for Classifications 8868, 8869, 8871, 8872, 8873, 8874, 8876, 9101 and 9102. The Expected Loss Rates for Classifications 8868 and 9101 will be modified in accordance with the commissioner’s decision.
- The Jan. 1, 2019 eligibility threshold based on the approved January 1, 2019 expected loss rates is $10,000.
The WCIRB is in the process of updating the Uniform Statistical Reporting Plan, Miscellaneous Regulations and Experience Rating Plan to reflect the regulatory changes approved by the commissioner.
The WCIRB is expected to begin calculating 2019 experience modifications within the next several days.
The commissioner’s October 12, 2018 decision pertains only to the WCIRB’s 2019 Regulatory Filing and does not address the proposed changes to the 2019 advisory pure premium rates.
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