Author, Rory Anderson, Partner, Account Executive, Rancho Mesa Insurance Services, Inc.

Pure premium rates are developed by the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) and reflect the expected cost of workers’ compensation claims for a particular class of business. Each year, the WCIRB evaluates loss and payroll data reported by insurance carriers throughout California and develops advisory pure premium rates that serve as an important benchmark for workers’ compensation pricing.