Pure Premium Rate Filing Webinar Kept It Simple + Nice Graphics The WCIRB (Workers Comp Insurance Rating Bureau) recently hosted a webinar on the upcoming pure premium rate filing changes effective September 1, 2022. The WCIRB always produces easy-to-understand slides. The whole premium charging process is contained in one chart.
Deep DIVE WCIRB Restaurant Class Code Webinar – Great Data Supply Hot Off The Presses – the WCIRB restaurant class code webinar just finished a few minutes ago. I apologize upfront for any typos as I am doing this live. First-Ever WCIRB Class Code Webinar Industry Profile – Restaurants Why
WCIRB Over-reserving Correction – Rating Bureau Helps Out Employers – Wow! The Webinar Info Is at the bottom of this article California’s Workers’ Comp Insurance Rating Bureau provides a great assist to employers. The WCIRB over-reserving correction algorithm helps employers greatly. Kudos to them – read on to see how
California’s WCIRB USRP Manual Update – From The Webinar The workers’ compensation rating bureau for California hosted a very thorough webinar on the WCIRB USRP Manual update yesterday. Wow, sounds boring? Then your company must have extra money to spend even if you are not located in California. Last year,
WCIRB XMod Decision Includes COVID-related Claims With Three Caveats The WCIRB XMod decision this week should provide employers somewhat of a break for incurring COVID-related claims. WCIRB is the Workers Compensation Insurance Rating Bureau of California. A question was sent to NCCI (National Council on Compensation Insurance), as I write
WCIRB Conference Oakland CA – My Mistake Turned Out OK From The WCIRB Conference Oakland CA – my mistake on thinking it was a full-day conference. The WCIRB used to host one day conferences. Their conference booklets from 2002 – 2010 still sit in my bookshelf. If you search this
Equity Compensation – California Rating Bureau WCIRB Provides New Rules The California Rating Bureau WCIRB recently published an article which has been the basis for many debates among carriers, rating bureaus, and premium auditors. When I attended the IAASE Conference last year in Columbia, SC, a part of the NCCI
WCIRB Pure Premium Rates Not The Same As Workers Comp Insurance Rates (Usually) The WCIRB pure premium rates generated a few calls over the last two weeks. Insurance companies file their own loss cost multipliers or LCM’s that deviate from those rates. The Workers Compensation Insurance Rating Bureau is
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
WCIRB Long Tail Medical Expenses – 30 Year Study The WCIRB Long Tail Medical Expenses Study was one of the better studies I have seen from them over the years. The WCIRB of course, is Workers Compensation Insurance Rating Bureau- California’s Workers Comp Rating Bureau. The study covered 30
California WCIRB Rating Formula Changes The California WCIRB rating formula changes for January 2017 stood out in one of their recent press releases. The WCIRB (Workers Compensation Insurance Rating Bureau) is the rating organization for WC similar to NCCI. Before I start to analyze the press release, the WCIRB
California SB 863 California SB 863 was supposed to be a cost-cutting measure for all parties involved in their WC system. Last week, the WCIRB (Workers Comp Insurance Rating Bureau) recommended a 6.7% increase due to a number of factors for policies effective January 1, 2015. According to the
CA WCIRB Webinar The following is a great live CA WCIRB webinar that was typed in as it happened. Please excuse any typos, weird language as I am typing this live as I hear it. Thanks for the understanding. Check back often as this blog will keep updating, if
California’s Rating Bureau (WCIRB) The WCRIB – California’s Workers Compensation Rating Bureau (similar to NCCI) has written quite a few great plain-language documents on explaining how X-Mods (E-Mods, EMR’s, Mods,etc.) affect employers. One of those can be found by clicking here. Their X-Mod formula is slightly different from most of
WCIRB ‘s New Mod Formula – Small Employers Must Enact Safety Programs Now WCRIB’s new mod formula will heavy affect small employers with a less than stellar safety record. Last Friday, I briefly covered California’s WCIRB and the change in the X-Mod Calculation effective 1/1/2013. I thought I would
Californias WCIRB X-Mod Formula Heavily Penalizes Small Unsafe Companies This month Californias WCIRB produced a new small employer X-Mod formula. Yesterday, I attended the WCIRB Conference in Burbank, CA. The WCIRB makes one work in their workshops. They always put on great workshops. One of the things I noticed
California’s WCIRB Changing X-Mod Formulas I am actually traveling on my way to a one-day WCIRB conference in Burbank/LA tomorrow. I noticed that the WCIRB had a two different press releases today.I wanted to publish this info as soon as possible as there are a few major changes to the
Audit Dispute Question From A Twitter Follower Our Workers Comp Twitter handle received an audit dispute question from a Twitter Tweeter. Can an insurance carrier perform a mid-term audit and then come back in for another audit after the policy expires? That seems to take up a large amount
California Physical Premium Audits The rules for California physical premium audits have changed recently. The WCIRB (California’s Rating Bureau) recently released a reminder memo on the upcoming changes for 2014 Workers policies that have payroll developed under what is called a High Wage/Dual Wage Classification. Physical audits will be required for all
WCIRB Upcoming Meeting Will Affect Certain Employers Heavily The upcoming meeting of WCIRB in California may be one to mark on your calendar if you own one of the below listed companies. The WCIRB may change some classification codes depending on a meeting on March 5th. The WCIRB is California’s rating agency for
California Employer Question A California employer emailed in this question last weekend. “We are a medium-sized employer (dry cleaner) in central California. Our Experience Modification Factor increased significantly over the last few years. The increase seems to have resulted in our Workers Comp premiums rising significantly. What is
Massive New Study On Long Term Claims NCCI has recently published what I would refer to as a very hybrid study of the long term medical costs on Workers Comp claims. Claims data is usually examined by NCCI, the WCIRB (CA Rating Bureau), and other rating bureaus with a corresponding
Lack Of Technology – E-Mods and X-Mods All E-Mods and X-Mods are affected directly by technology. In my last post, one of the statistics that jumped off the page caused me to write this blog separately as there is a study that finally relates the lack of technology by Workers
Who Is The WCIRB ? What do they regulate and who is the WCIRB ? I received this question on the WCIRB last night from a California employer that had grown large enough to receive an X-Mod. Congratulations on your company’s growth in a tough economy. Sometimes, it is best
New Policy Ombudsman – Addie Wong The new policy ombudsman for CA’s WCIRB is Addie Wong. She was recently named the new ombudsman for the California Workers Compensation Insurance Rating Board (WCIRB). I thought I would add in her introduction letter and the functions of the Ombudsman position. Introduction Letter
California Rate Increases Not Due California’s Workers Comp conundrum was not due to the current medical price increases. The California rate increases were due to not incrementally increasing the rates as medical and other expenses had risen over time. The pundits on California’s Workers Compensation current environment have indicated a
Medical Utilization In Workers Comp – California California Medical Utilization for Workers Comp hit the radar screen this week. I often post concerning the Workers Compensation situation in California. I do this to specifically point out what the future will look like for your company’s jurisdictions. California seems to be
WCIRB And NCCI Becoming More Alike WCIRB and NCCI are becoming more alike. Yesterday, I posted how the WCIRB had adopted rules similar to NCCI’s new changes. It was late at night and I did make a mistake. What I meant to say was that the WCIRB was adopting rules
WCIRB Becoming California’s NCCI The WCIRB Is slowly becoming California’s NCCI. While attending a recent California Workers’ Compensation Insurance Rating Bureau (WCIRB – the rating bureau for California) conference, I started to notice that the WCIRB was adopting rules that were similar to Boca Raton’s NCCI. I thought I was
The 0% Rate Increase Is Not Recommended for California Once again, California’s Insurance Commissioner has rejected the 27.7% recommended rate increase by the California’s Workers Compensation Rating Bureau (WCIRB). I had thought the request was somewhat steep. However, a 0% rate increase may not be the answer either. The Workers
California’s WCIRB Says 30% Increase Appropriate California’s WCIRB has recommended a 30% increase in Workers Comp pure premium rates. I was interviewed by The Insurance Journal on my opinion of the heavy increase and the possible effects. My response was that the 30% increase could have easily been 50%. Why?
California Workers Comp Rates 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
California Employers May Face Large Premium Increase The California Employers Premium rate increase recommended by the WCIRB tallied at 27%. In my last post, I blogged my thoughts on how the California Workers Comp rates would increase in the coming years. I had thought there would be an increase of
California Workers Compensation System Rate Reduced Significantly In Four Years The California Workers Compensation system rate decreased quickly over the last four to five years. While reading through a few on the online publications I receive every day, I came upon a statistic in the California Workers Compensation reform that
5% Increase To Pure Premium Rate Too Low California Insurance Commissioner Steve Poizner approved a rather anemic 5% increase pure premium rate for Jan 1, 2009. The California Workers Compensation Insurance Rating Bureau (WCIRB) had recommended a 16% increase. Is this dangerous territory to cut the increase in pure premium
California X-Mod Dispute Process Steps As a follow up to my last post, I wanted to explain how to protest a CA X-Mod. As I have said in many previous posts, do not just sling out a protest because you think your company is paying too much $ in premiums.
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