California’s employers will be asked to pay more for their Workers’ Compensation Insurance premium if the Department of Insurance approves the 2012 mid-year rate proposal made by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB). The recommendation the WCIRB made on April 12, 2012 contained pure premium rates that would become effective for policies starting July 1, 2012.
WorkCompare.com has added the WCIRB 7/1/2012 Proposed Advisory Rates to our database so users can evaluate these newly proposed rates and how they compare to the advisory rates for 90+ California admitted workers’ compensation companies.
Whenever new rates are proposed or approved, WorkCompare.com publishes a list that shows how much the individual rates are changing. Click here to download a table that shows how these rates compare to the advisory rates in force during the prior policy period.
For example, the sample data below illustrates the differences between the advisory rates in force July 1, 2011 to the rates proposed for July 1, 2012:
|
Class – Description |
WCIRB Advisory
Rates in force 7-1-2011
(Eff 1-1-2011) |
WCIRB Proposed
Advisory Rates
Eff 7-1-2012 |
% Change |
|
4240 – Box Mfg. - rigid paper boxes |
10.55 |
18.25 |
72.99% |
|
9586 – Barber Shops or Beauty Parlors |
1.68 |
2.04 |
21.43% |
|
5102 – Iron, Steel, Brass, Bronze or Aluminum Erection |
6.89 |
7.53 |
9.29% |
|
1322 – Oil or Gas Well Servicing |
5.6 |
6.2 |
10.71% |
|
0036 – Dairy Farms |
4.63 |
8.61 |
85.96% |
|
8031 – Stores - meat, fish or poultry - retail |
5.13 |
9.72 |
89.47% |
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