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Audit Dispute Over “Change In Control” Payouts

The California Department of Insurance, Administrative Hearing Bureau, is being asked to determine whether $96.7 million in “change in control” payments to certain employees of a veterinary clinic chain should be included in payroll for workers’ comp premium calculations. The workers’ comp carrier included the one-time payments in its payroll audit and is seeking nearly … Read More »

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Property Management Among Classifications Up For Review

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Updating Upper Payroll Limits Updated

Wage inflation in California has the Workers’ Compensation Insurance Rating Bureau looking to update the payroll limits that apply to executive officers and nearly two dozen classes with high wages and low losses. WCIRB staff is recommending an increase of the minimum from $159,900 to $165,100 per year ($3,175 per week). The Bureau is a … Read More »

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Food Manufacturing Class Changes Up For Consideration

What changes does the Workers’ Compensation Insurance Rating Bureau have in store for employers in the food and beverage manufacturing industry? How will these changes affect the rates the covered employers pay? In one case the difference in loss to payroll ratio is nearly 80%. Next week, the Workers’ Compensation Insurance Rating Bureau’s Classification and … Read More »

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Industry’s Mid-Year Results Are Mixed

The Workers’ Compensation Insurance Rating Bureau says that through the first six months of the year, written premium is down 2% to roughly $8.3 billion compared to $8.5 billion at the same point in 2023. Charged rates, however, are up a similar amount. The Bureau is a private organization with quasi-governmental responsibility. It is financially … Read More »

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Over 40,000 Reassignments From Breakup Of Restaurants/Taverns Class

The numbers are in for the classification reassignments following the split of the 9079 Restaurants and Taverns classification into six new, more homogeneous workers’ comp classes, according to the Workers’ Compensation Insurance Rating Bureau. Bureau staff told its Governing Committee that tens of thousands of risks, including nearly 17,000 experience-rated employers, had the 9079 classifications … Read More »

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Bureau Analyzing Mid-Year Costs

At last week’s meeting, the Workers’ Compensation Insurance Rating Bureau actuarial committee reviewed the industry’s mid-year experience. It is beginning work on the next round of workers’ comp pure premium advisory rates. The results through June 30th show a projected loss ratio that was 2.6 points higher than the loss ratio that underlies the rates … Read More »

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Class Code Changes Coming

The Workers’ Compensation Insurance Rating Bureau intends to eliminate some smaller classes that no longer have enough credibility for rate making. The idea is to roll two classes covering sugar refining and cottonseed oil production into one larger cooking oils manufacturing classification and to combine risks that manufacture butter substitutes with those that make the … Read More »

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