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California Workers Comp Rates Stay Low

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California Workers Comp Rates

Graphic of Arrow Decrease California Workers Comp Rates With Yellow Percentage
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The California Workers Comp Rates will be staying low for 2010.  The Workers Compensation Insurance Rating Bureau of California (WCIRB) recently released the December 31, 2009 Summary of Insurer Experience. One of the most interesting statistics was the Average Insurer Rate per $100 of Payroll.

The average of $2.35 per $100 of Payroll was the lowest rate for employers since 1999 which was before the recent California insurance crisis. The highest amount during the last 15 years was $6.45 per $100 at the end of 2003.

These rates are the advisory rates. Any Workers Compensation insurance carrier can vary these rates greatly if the WCIRB approves the deviation. The WCIRB almost always approves the insurance companies’ rate deviations.   The main requirement is that the rates are filed timely with the WCIRB and the California Insurance Commissioner.

The WCIRB has recommended increases of over 20% over the last few years. The California Insurance Commissioner has decided to not approve the recommended increases. Is this bad for the California Workers Compensation insurance environment?  I think it depends on who you ask as to what will be the answer.

I will cover that next time.

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James Moore

Raleigh, NC, United States

About The Author...

James founded a Workers’ Compensation consulting firm, J&L Risk Mgmt Consultants, Inc. in 1996. J&L’s mission is to reduce our clients’ Workers Compensation premiums by using time-tested techniques. J&L’s claims, premium, reserve and Experience Mod reviews have saved employers over $9.8 million in earned premiums over the last three years. J&L has saved numerous companies from bankruptcy proceedings as a result of insurance overpayments.

James has over 27 years of experience in insurance claims, audit, and underwriting, specializing in Workers’ Compensation. He has supervised, and managed the administration of Workers’ Compensation claims, and underwriting in over 45 states. His professional experience includes being the Director of Risk Management for the North Carolina School Boards Association. He created a very successful Workers’ Compensation Injury Rehabilitation Unit for school personnel.

James’s educational background, which centered on computer technology, culminated in earning a Masters of Business Administration (MBA); an Associate in Claims designation (AIC); and an Associate in Risk Management designation (ARM). He is a Chartered Financial Consultant (ChFC) and a licensed financial advisor. The NC Department of Insurance has certified him as an insurance instructor. He also possesses a Bachelors’ Degree in Actuarial Science.

LexisNexis has twice recognized his blog as one of the Top 25 Blogs on Workers’ Compensation. J&L has been listed in AM Best’s Preferred Providers Directory for Insurance Experts – Workers Compensation for over eight years. He recently won the prestigious Baucom Shine Lifetime Achievement Award for his volunteer contributions to the area of risk management and safety. James was recently named as an instructor for the prestigious Insurance Academy.

James is on the Board of Directors and Treasurer of the North Carolina Mid-State Safety Council. He has published two manuals on Workers’ Compensation and three different claims processing manuals. He has also written and has been quoted in numerous articles on reducing Workers’ Compensation costs for public and private employers. James publishes a weekly newsletter with 7,000 readers.

He currently possess press credentials and am invited to various national Workers Compensation conferences as a reporter.

James’s articles or interviews on Workers’ Compensation have appeared in the following publications or websites:

  • Risk and Insurance Management Society (RIMS)
  • Entrepreneur Magazine
  • Bloomberg Business News
  • WorkCompCentral.com
  • Claims Magazine
  • Risk & Insurance Magazine
  • Insurance Journal
  • Workers Compensation.com
  • LinkedIn, Twitter, Facebook and other social media sites
  • Various trade publications

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