Industry News
The Hidden Shift in Workers’ Compensation Pricing
The Workers' Compensation Insurance Rating Bureau (WCIRB) has approved the recommended increase in hourly wage thresholds for all 16 construction dual wage classifications. The increases range from $2 to $5 depending on the classification and will go into effect for policyholders renewing September 1, 2022 and thereafter. The chart below outlines the increases for each classification.
CA Workers’ Compensation Market Faces Increased Pressure Beneath Stable Surface
Author, Jeremy Hoolihan, Partner, Rancho Mesa Insurance Services, Inc.
Recently, the Workers’ Compensation Insurance Rating Bureau (WCIRB) of California released its Quarterly Experience Report that offers insight into the state of the California workers’ compensation market. While at a glance, the market may seem stable; however, there are evolving claim patterns that are creating challenges for insurers and employers alike.
California’s Workers’ Comp Rates Poised to Increase Again: What the 10.4% Proposal Means for Landscape Employers
Author, Greg Garcia, Account Executive, Rancho Mesa Insurance Services, Inc.
The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) recently released a proposed pure premium rate increase of 10.4% across all class codes. As a reminder, the proposed increase does not mean every class code will see a 10.4% increase on their specific class code, rather that is the blended average increase across all class codes. These proposed rate increases will be reviewed by California’s Insurance Commissioner Ricardo Lara sometime in mid-July for the new rates to go into effect September 1, 2026.
WCIRB Approves Dual Wage Threshold Increases for 2026: What California Contractors Need to Know
Author, Jeremy Hoolihan, Partner, Rancho Mesa Insurance Services, Inc.
The Workers’ Compensation Insurance Rating Bureau (WCIRB) has reviewed and approved a proposal to increase the hourly wage threshold for 13 out of the 16 dual wage classifications by $2 to $5 per hour that would go into effective September 1, 2026, once Insurance Commissioner Ricardo Lara agrees.
Workers' Comp Rate Increases On the Way with Margaret Hartmann: Part 3
In the final episode of a three-part series, President David Garcia and Margaret Hartmann, Sr. VP and Chief Marketing Officer with BHHC, discuss the WCIRB's proposed 11.2% workers’ compensation rate increase in California. They explore how this may impact employers, and actionable steps businesses can take to mitigate rising premiums.
Workers' Comp Rate Increases On the Way with Margaret Hartmann: Part 2
In the second episode of a three-part series, President David Garcia continues his discussion with Margaret Hartmann, Sr. VP and Chief Marketing Officer with BHHC, and explains how companies can mitigate cumulative trauma claims in light of the WCIRB’s recent 11.2% recommended rate increase.
Workers' Comp Rate Increases On the Way with Margaret Hartmann: Part 1
President David Garcia sits down with Margaret Hartmann, Sr. VP and Chief Marketing Officer with BHHC, to offer insight on the outcome of WCIRB’s recent 11.2% recommended rate increase, what areas are driving this increase, and what employers can do to mitigate it.
WCIRB 2024 Construction Dual Wage Threshold Increases Approved
The California Insurance Commissioner Lara has approved an increase in hourly wage thresholds for all 16 construction dual-wage classifications.
WCIRB Files for Workers’ Comp Rate Increase
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
Earlier this month, the Workers’ Compensation Insurance Rating Bureau (WCIRB) recommended a nominal .9% increase in the advisory pure premium rates. The reason given, increased loss development for medical costs and higher claims adjustment expenses. This recommendation is now sent to the California’s Insurance Commissioner Ricardo Lara for approval. If approved, the increase in rates then take effect September 1, 2024.
Cracking the Code: Deciphering the Primary Threshold’s Impact
Author, Greg Garcia, Account Executive, Rancho Mesa Insurance Services, Inc.
Every business owner understands the correlation between their Experience MOD (XMOD) and what they will pay in workers’ compensation premiums. When the XMOD increases, there is a good chance that the workers’ compensation rates or premiums will rise as well. This is why it is so crucial to really hone in on company safety procedures to limit work-related injuries as much as possible. The reality is that even the safest company that does everything the right way is going to run into a workers’ compensation claim from time to time.
WCIRB Proposes 2024 Construction Dual Wage Threshold Increase
The Workers' Compensation Insurance Rating Bureau (WCIRB) has proposed an increase in hourly wage thresholds for all 16 construction dual-wage classifications.
The increases range from $1 to $4 depending on the classification and if approved will go into effect for policyholders renewing September 1, 2024 and thereafter. The chart below outlines the proposed increases for each classification.
Implementing Technology and Other Safety Tactics to Protect Your Fleet
Author, Greg Garcia, Account Executive, Rancho Mesa Insurance Services, Inc.
One of the most important practices for any landscape professional is fleet safety. Whether you have 10 trucks or 100, the exposure and risk remain the same. Explore a prior podcast episode, Episode #251, in which I delve into compelling statistics that shed light on the increasing frequency and severity of auto accidents each year.
Pure Premium Increase for Landscape (0042) in Consecutive Years
Author, Greg Garcia, Account Executive, Rancho Mesa Insurance Services, Inc.
When my baseball career ended in 2021, it was time for me to do something new with my life. For me the decision was easy and one that I am very grateful for. My dad, Dave Garcia started Rancho Mesa 25 years ago and throughout the years he and many others have contributed into what Rancho Mesa is today, a 16-time National Best Practices Agency. I was fortunate enough to get an opportunity to join such an amazing organization.
California Insurance Commissioner Leaves Workers’ Comp Rates Flat
Author, Jeremy Hoolihan, Account Executive, Rancho Mesa Insurance Services, Inc.
California Insurance Commissioner Ricardo Lara released a statement that he is rejecting the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) recommended 7.6% increase in the workers’ compensation pure premium rates as well as the add-on to cover COVID-19 claim costs. The Commissioner also rejected a more modest 2.8% increase recommended by the Department of Insurance’s actuaries and the 1.4% decrease recommended by an independent actuary for the public members of the Bureau’s governing committee.
WCIRB Approves 2022 Construction Dual Wage Threshold Increase
The Workers' Compensation Insurance Rating Bureau (WCIRB) has approved the recommended increase in hourly wage thresholds for all 16 construction dual wage classifications. The increases range from $2 to $5 depending on the classification and will go into effect for policyholders renewing September 1, 2022 and thereafter. The chart below outlines the increases for each classification.
Understanding the Impact of MEP Contractors’ Dual Wage & Total Temporary Disability
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
What is a dual wage threshold? According to the Workers’ Compensation Insurance Rating Bureau (WCIRB), in California there are sixteen (16) construction operations that are divided into two separate classifications based on the hourly wage of the employee. There are different advisory pure premium rates for the low wage employee and the high wage employee.
CA Insurance Bureau Recommends 7.6% Rate Increase
Author, Jack Marrs, Associate Account Executive, Human Services Group, Rancho Mesa Insurance Services, Inc.
The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) voted to submit a September 1, 2022 Pure Premium Rate Filing to California’s Insurance Commissioner Lara.
WCIRB Proposes Expected Loss Rate Decrease for Landscape Industry
Author, Drew Garcia, Vice President, Landscape Group, Rancho Mesa Insurance Services, Inc.
The Workers’ Compensation Insurance Rating Bureau (WCIRB) has proposed a 2% decrease (from $2.42 to $2.37) in the expected loss rate for the landscape class code 0042.
2022 Construction Dual Wage Thresholds - An Early Look
Author, Kevin Howard, Account Executive, Rancho Mesa Insurance Services, Inc.
There are 16 construction workers’ compensation class code pairs in California, each set up as dual wage classifications. The purpose of these “split” class codes allows the Workers’ Compensation Insurance Rating Bureau (WCIRB) and California insurers to better predict future risk and underwrite with more accuracy.
How Rising Pure Premium Rates Will Impact the Tree Care Industry
Author, Rory Anderson, Account Executive, Rancho Mesa Insurance Services, Inc.
In California, each workers’ compensation insurance company has its own set of base rates for each class of business. In order to come up with their base rate for each class code, the insurance carrier applies their Loss Cost Multiplier (LCM) to the Workers’ Compensation Insurance Rating Bureau’s (WCIRB) pure premium rates.