Work comp Rate increase

California employers can expect to see an increase in workers' comp pure premium rates next year of slightly more than 4%. That's the early indication from the Workers' Compensation Insurance Rating Bureau's actuarial committee, but the final number is still being computed.

The committee started the day looking at a 5% increase but that will come down under changes in methodology approved by the committee, including a lowering of the inflation rate for medical cost containment expenses. The full scope of the increase will not be known until WCIRB staff completes it calculations and makes its presentation to the Bureau's governing committee next week. A formal filing is expected by August 15.