California’s Workers Compensation Insurance Bureau governing committee voted to request a 3.4% increase to pure premium rates for 2015. This lower indication is due to better than expected results on medical spending and a smaller increase in claim frequency than was initially projected.
We have continued to see workers compensation rates rise over the past 4 years and unless an employer is aggressive on claims follow up and interaction with the claims adjuster on open claims in an effort to keep claims reserves down and to close out claims they may find their rates increasing substantially higher. It is recommended that a business appoint one person to manage all open claims and keep an open line of communication between the agent and the insurance carrier’s adjuster to expedite the closure of claims and to assure the employee is receiving proper and prompt treatment. For more information on how and what to request information from your adjuster contact our office