Calif. WCIRB Makes 2004 Regulatory Filing

The California Workers’ Compensation Insurance Rating Bureau (WCIRB) submitted its annual regulatory filing to the California Insurance Commissioner July 30. In its filing, the WCIRB proposed the
following:

*An average increase in advisory pure premium rates of 12.0 percent to be effective on Jan. 1, 2004 for new and renewal policies with anniversary rating dates on or after Jan. 1, 2004. Of the 12.0 percent average increase, 6.0 percent is attributable to updated loss and loss adjustment experience, 5.0 percent is due to the impact of Assembly Bill No. 749, 1.8 percent is the estimated provision for earthquake exposure, and 1.2 percent is due to the change in the
experience rating off-balance factor.

*Amendments to the California Workers’ Compensation Uniform Statistical Reporting Plan 1995, “Miscellaneous Regulations for the Recording and Reporting of Data,” and the California Workers’ Compensation Experience Rating Plan 1995.

*Amendments to the United States Longshore and Harbor Workers’ Supplement to the California Workers’ Compensation Uniform Statistical Reporting Plan 1995.

A public hearing on the matters contained in the WCIRB’s filing will be
held at 9:30 AM on Sept. 12, 2003, at the California Department of Insurance, in the Public Hearing Room, 22nd Floor, 45 Fremont Street, San Francisco, California.

Electronic versions of the Jan. 1, 2004 Rate Filing, the WCIRB Bulletin,
the Notice of Proposed Action and Notice of Public Hearing, and the Initial Statement of Reasons will be available on the WCIRB Web site July 31. To view the filing, visit www.wcirbonline.org/filings.