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California will not release mid-year clean premium registration



California's Compensation Compensation Assessment Agency on Wednesday stated that the modest improvement of pure premium worker compensation rates so far in 2019 does not warrant a six-month application.

WCRIB's governing committee met to review the state's work compensation and loss adjustment cost experience. In 2011, the Bureau established that mid-term applications would only be made if there was high market volatility or large legislation, legislation or legal action affecting workers in the state.

The committee decided that since Jan. On 1, 2019, approved premium rates improved about $ 0.06 per $ 100 of salary pay – or less than 4% – than in previous years, and do not deserve a mid-level claim. Clean premium prices reflect remuneration claims and medical losses and loss adjustment costs. Insurance companies in the state are not obliged to adopt the tax rates.

The agency also discussed its concerns regarding the stated increases in the average of 201

8 due to difficulty levels and potential distortions of the loss trend from the recent reductions in drug costs. The committee is planned to further develop these areas for the 1 January 2020 clean premium fee.

                    


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