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California Workers’ Comp’s written premium up 27% in the first half of 2022

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California’s Workers’ Compensation Insurance Rating Bureau released its quarterly experience report, reflecting an increase in written premiums due to the economic recovery from the pandemic.

The report is an update on the California statewide insurer experience that is valuable as of June 30, 2022.

Highlights of the report include:

  • California written premiums for the first six months of 2022 were 2% higher for the first six months of 2021, driven by continued economic recovery.
  • The average charge rate for the first half of 2022 was 3% lower than in 2021 and the lowest in decades.
  • The estimated loss ratio for 2021, which includes the cost of COVID-19 claims, was 6 points higher for 2020 and 12 points higher for 2019.
  • The projected combined ratio for 2021, including COVID-19 claims, was 8 points higher than in 2020 and 33 points higher than the low point in 2016.

in full report Research Section of the WCIRB Website,

related:

Subject
california
trends
workers compensation
pricing trends

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