Report: California Comp Combined Ratio for 2024 Highest in 20-Plus Years
After three consecutive accident years with relatively stable loss ratios, the projected loss and allocated loss adjustment expense ratio for accident year 2024 rose by 9 points and the combined ratio for accident year 2024 rose by 12 points—the highest in more than 20 years, a report out on Tuesday shows.
The Workers’ Compensation Insurance Rating Bureau of California released its latest Quarterly Experience Report, offering updated insights into statewide insurer experience valued as of September 30, 2025.
Related: Workers’ Comp Continues to Lead P/C industry With Strong Profits
The WCIRB report also shows written premium levels for calendar years 2022 to 2024 were relatively stable compared with swings experienced during the pandemic. Written premium in the first nine months of 2025 were roughly 1% higher than the first nine months of 2024, the report shows.
Based on the first nine months of 2025, industry average charged rates remained flat compared with 2024, indicating the downward trend since 2014 has stabilized, according to the WCIRB.
Related: Viewpoint: California Workers’ Comp Outlook And What Stakeholders Need to Know
Although the insurance commissioner approved an 8.7% increase in advisory pure premium rates effective Sept. 1, 2025, average insurer rates through September 30 have not yet risen.