• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Archway Insurance

Insure With Excellence

  • About
  • Business Insurance
  • Personal Insurance
  • Employee Benefits
  • Forms/Applications
  • Resources
  • Blog
  • Contact

WCIRB 1/1/2020 Proposed Pure Rates

workman's comp · August 9, 2019

The Governing Committee of the Workers’ Compensation Insurance Rating Bureau (WCIRB) voted to authorize the WCIRB to submit the proposed January 1, 2020 Pure Premium Advisory rates to the California Insurance Commissioner.

The new rates will on average be 5.7% below those of January 1, 2019.  If adopted by the Commissioner’s office, this would be the ninth consecutive pure premium rate decrease since 2015, for a total of about 44 percent.

Though a lagging indicator of economic health, it is still indicative of a good economy—people with jobs would rather work than file a workers’ comp claim.  When an economy turns downward and widespread layoffs begin, workers comp claims tend to come out of the woodwork.

We certainly don’t know what the rate bottom might be—this is almost unprecedented for rate decreases.  It comes from a growing economy so we should simply enjoy it as long as it lasts!

https://www.wcirb.com/news/governing-committee-authorizes-january-1-2020-pure-premium-rate-filing

Filed Under: workman's comp

Previous Post: « The Peril of Potholes
Next Post: Independent Contractor vs. Employee »

Footer

Follow Us

Privacy Statement

Contact us

Archway Insurance Brokers, LLC
1731 Technology Drive,
Suite 250
San Jose, CA 95110-1326
Phone: 408-441-2000
Fax: 408-441-1982

Copyright © 2023 Archway Insurance
Archway InsuranceLogo Header Menu
  • About
  • Business Insurance
  • Personal Insurance
  • Employee Benefits
  • Forms/Applications
  • Resources
  • Blog
  • Contact