Workers’ Comp Insurers Lose $1.5B; Health Care Rates Rise
California's insurers for workers' compensation posted a $1.5 billion loss in underwriting last year, while health care payments rose from $3.64 billion in 2008 to $3.68 billion in 2009, according to a new report by the California Workers' Compensation Insurance Rating Bureau. Workers' comp insurers earned $9.1 billion in 2009, a 16.5% drop from the year before, and health care costs accounted for about one-third of total expenses.
- "Workers' Comp Insurers Lost $1.5B in 2009 in Underwriting" (Johnson, Sacramento Business Journal, 7/7).