Group Recommends 5.2% Decrease in Workers’ Compensation Premiums
The Workers' Compensation Insurance Rating Bureau on Thursday recommended that workers' compensation insurers decrease premiums by 5.2% for policies written or renewed after Jan. 1, 2006, the Sacramento Bee reports. Workers' compensation insurers decreased rates by an average of about 15% on policies written or renewed after July 1, 2005.
According to WCIRB, the cost of treating job-related injuries continues to decrease following the implementation of changes to the state workers' compensation insurance system.
WCIRB said it will re-evaluate its recommendation to Insurance Commissioner John Garamendi (D) in September, following the completion of additional research on the cost of workers' compensation claims (Chan, Sacramento Bee, 7/22).