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California Workers’ Compensation Institute (CWCI) reported that total premiums for workers compensation insurance in the state increased nearly 3% to $7.1 billion in 2010, reflecting the first spike in total premiums in five years.
Published on May 19, 2011
Using data compiled by the National Association of Insurance Commissioners (NAIC), the CWCI said that the $7.1 billion in 2010 workers comp premiums compares with $6.9 billion in 2009.
Total premiums in California’s workers compensation system peaked at $16.1 billion in 2004.
CWCI also said workers compensation losses totaled $5 billion in 2010 compared with $4.6 billion in 2009, and the loss ratio for California-licensed workers comp insurers climbed to 72.49% from 68.52%.
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