قالب وردپرس درنا توس
Home / Insurance / Rating agency to look for COVID-19 related premium adjustments

Rating agency to look for COVID-19 related premium adjustments



To comply with the California Commissioner of Insurance Directive to monitor the impact of COVID-19 claims on premium costs, Workers announced the Compensation Insurance Rating Bureau of California on Wednesday that it will amend its quarterly statement to gather information about the member Premium fees for COVID-19 2021 and later insurances.

According to an order attached to WCIRB's 1 January 2021, pure premium shares, the Commissioner stated that insurers' shall provide all interest rate components and / or credit plans that include an adjustment for COVID-19; the submitted interest rates and classification plans for 2021 shall reflect the expected cost of COVID-19 claims on the insurances to which they apply and are clearly identified in the interest rate information submitted ”to the insurance department.

The Commissioner also led WCIRB to collect "data on the total premium charged for all interest rate components and / or classification plans that include an adjustment for COVID-1

9."

More insurance and workers' compensation news about the coronavirus crisis here .

Catalog


Source link