Lower workers’ compensation rates in California will bring down written premium once again this year, according to a forecast from the Workers’ Compensation Insurance Rating Bureau.
That revelation is expected in a full report on the state of California’s workers’ comp system is due out in about a week, but David Bellusci, WCIRB executive vice president and chief actuary, gave a rundown of what to expect during the group’s annual conference in San Francisco on Thursday.
This year’s conference, attended by carriers, brokers, state officials and other workers’ comp stakeholders, brought in record attendance, according to Bill Mudge, president and chief executive officer of the WCIRB.
“We have 92 percent of the state’s workers’ comp market share represented in this room,” he told the audience.
Mudge opened the conference and talked about the WCRIB’s strategic roadmap and changes it will bring, including using data to better access how people interact with the state’s massive workers’ comp system.