The Casualty Actuarial Society (CAS) said experts speaking atits spring meeting in Phoenix, Ariz., reported that insurers andself-insurers are seeing positive trends as a result of Californiaworkers' compensation reforms.
Arlington, Va.-based CAS reported that Roberta Garland,president, Garland Actuarial LLC, and moderator of a panel session,explained that early results of the reform's impact indicate thatmore insurers are entering the market and charged rates arelower.
According to CAS, average insurer rate as a percentage ofCalifornia payroll has dropped from a high of 6.4 percent in thesecond half of 2003 to 5.3 percent in the second half of 2004. Therate is projected to drop further to 4.8 percent in the first halfof 2005, according to data provided by Workers' CompensationInsurance Rating Bureau of California (WCRIB).
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