California, are Workers’ Comp Rates Too High?
Most of us would probably answer “yes” to that question. But it might help to put things in perspective by pointing out that the average rate per $100 of payroll has fallen from $6.11 in 2004 to $2.44 in 2010: Meanwhile, claims costs have increased 50% in that same period: Another summary shows the statewide insurer combined ratio year by year. You can see that the ratios have risen sharply in each of the past four years, reaching levels of significant unprofitability in 2008 and 2009 (the most recent years available): Industry combined ratios are revealing unsustainable trends. Combined ratios climbed… Read More »California, are Workers’ Comp Rates Too High?