The California Workers Compensation Insurance Rating Bureau (WCIRB) just released a recommendation for a 27% increase to the current base Workers Comp insurance rates for employers in California. This is for all policies after 7/1/09 and forward. Insurance Commissioner Steve Poizner has to approve any increases or decreases to the base rates for Workers Comp premiums. Between now and July 1, 2009, the Insurance Commissioner will adopt a rate change.
The WCIRB press release said that 7% was due to recent court decisions and rulings. Medical treatment is becoming more expensive in most states. The WCIRB has said that the upcoming medical costs will rise 13% per year.
The average premium paid per $100 of payroll for California employers was reduced almost 70% from 2003 to 2009.