California’s Workers’ Comp Advisory Rate Hike: What It Means and Why It Matters
California has approved itsfirst workers’ compensation pure premium advisory rate increase since2015, and it is generating headlines across the insurance industry. Workers’ Compensation Insurance Rating Bureau of California (WCIRB) announced the new 8.7% increase, which is effective September 1, 2024. Ricardo Lara, Insurance Commissioner, approved this proposal; it is an indicator that stakeholders cannot overlook. […]