Governor Schwarzenegger Applauds Decision to Reject Workers’ Compensation Rate Increase

Governor Arnold Schwarzenegger today applauded Insurance Commissioner Steve Poizner’s decision to reject the Workers’ Compensation Insurance Rating Bureau’s request for a pure premium rate increase that would have had an overwhelmingly negative impact on businesses, employees and California’s economy.

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Poizner Says NO! To Rate Increase Today

Citing decreasing workers’ comp costs from self insured’s’ and many opportunities for California workers ‘ comp carriers to implement cost containment measures, California Insurance Commissioner Steve Poizner today announced that he is just saying no to increasing the pure premium rates. That’s right: A ZERO INCREASE IN THE PURE PREMIUM RATE. Read more

2009 Workers’ Comp Rate Increase Disaster

On Thursday, June 4, CDTOA received a detailed email letter from State Compensation Insurance Fund or SCIF (below) informing us that our workers’ compensation insurance base rates here in the Golden State weren’t just going up 15% as the earlier SCIF news bulletins deceptively announced. This new letter indicated that the base rate increases for all class codes are going up an average of 15% and that our particular group “base rates were increasing by 25 percent or more”. Read more

WCIRB Recommends 16% Rate Increase for January ‘09

With medical inflation on the rise and a full year with no change in California workers’ compensation pure premium rate, the Workers’ Compensation Insurance Rating Bureau of California is recommending a 16% overall average increase to pure premium rates. It is for new and renewing policies as of Jan. 1, 2009.  The recommendation could actually increase later in the fall – to as much as a 20% overall increase.  This depends upon changes to the permanent disability rating schedule under consideration by the Division of Workers’ Compensation. Read more

State Fund Files a 3.5 Percent Premium Decrease

Filing marks a 57 percent cumulative rate decrease since 2004

SAN FRANCISCO – State Compensation Insurance Fund today announced it filed a July 1, 2008 revision to its rating plan, which it anticipates will result in a 3.5% reduction in collectible premium. While base rates will remain unchanged, State Fund has expanded its merit rating and claims-free discount plans to lower rates for policies with superior safety records. The new rate filing will affect new and renewal workers’ compensation policies with an effective date on or after July 1, 2008. Read more