WCAN WCIRB California Workers Comp Full Analysis (Great Charts)
The WCAN WCIRB California Analysis of Workers Comp consisted of many great charts. The WCAN (Workers Comp Action Network) provided a great link to a very thorough breakdown of everything you want to know about California Workers Compensation in 2017.
The WCAN always provides a great summary. However, the California study at the WCIRB (Workers Compensation Insurance Rating Bureau) website contained a massive amount of information which no summary would do justice.
Even if you do not have California interests in Workers Comp, I heavily recommend downloading the WCIRB document. If you do not want to go over every chart, the last few pages of the study include a summary of each chart. These charts are priceless for a California Workers Comp presentation. The underlying data in Excel format can be found on page 3 in the link (page 1 of the body of the study).
A few of the highlights from the analysis are:
- Chart 26 – Virginia, Louisiana, Alaska, and Delaware are more expensive for medical costs in indemnity claims.
- Chart 29 – Opioid costs per 100 claims reduced by 2/3. Would any of the cost be due to cheaper/generic opioids/
- Chart 31 – California has a very high ratio of unreported claims at the 12 month mark (cumulative trauma?)
- Chart 36 – $1 of benefits cost 53 cents for delivery of that benefit (Wow!)
- Chart 44 – The quick and dirty summary for California
Many charts cover other areas well. You may want to check out the other charts provided by the WCIRB.
I am often asked why do I cover California so extensively. California is one of the more complicated and expensive states for Workers Comp in the nation. The other main reason points to the Golden State often enacts laws and rules which other states consider using in their Workers Comp regulations.
The WCAN WCIRB California analysis should be updated in the coming months.
©J&L Risk Management Inc Copyright Notice