The Workers’ Compensation Å˽ðÁ«´«Ã½Ó³» Rating Bureau of California issued its Quarterly Experience Report, an update on California statewide insurer experience valued as of Dec. 31, 2022.
Highlights of the report include:
California written premium in 2022 was 14% above that for 2021, driven by higher employee wage levels and the economic recovery.
The average charged rate for 2022 was 7% below that for 2021 and the lowest in decades.
The projected loss ratio, including the cost of COVID-19 claims, dropped 4 points in accident year 2022.
The projected combined ratio for 2022, including COVID-19 claims, is 5 points lower than in 2021.
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Topics California Workers' Compensation
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