Average “Pure Premium” Rates  Will Be Cut by 3% from July 1, 2017

31 Oct

Average “Pure Premium” Rates
Will Be Cut by 3% . . . from July 1, 2017
Rates for January 1, 2018
In October 2017 The California Insurance Commissioner issued a Decision regarding the WCIRB’s January 1, 2018 Pure Premium Rate Filing.
In his Decision, the Insurance Commissioner approved advisory Pure Premium rates that average $1.94 per $100 of payroll. The average approved Pure Premium rate is 3.0% less than the average of the approved July 1, 2017 advisory Pure Premium rates of $2.00 per $100 of payroll.
Pure Premium rates are used as a basis for insurer who then file individual company rates using the “Pure Premium” rates and add operating and other expenses to set their company rates. Insurer rates as of July 1, 2017 industry averaged $2.34 per $100 of payroll, but of course with over 500 classification codes, rates for any individual employer vary widely.
Employers who would like to discuss ways to handle
work injuries and control workers’ compensation
costs should contact CalWorkSafety
for a review of steps to take before an injury,
after an injury occurs, and when an injury is reported late.

Visit our website at www.calworksafety.com for more information

or Call:  949-533-3742
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