California's workers' compensation reforms in recent years have had a significant effect in lowering loss ratios and premiums, according to a report by the state Workers' Compensation Insurance Review Board.
In a summary of the insurer experience as of Sept. 30, the WCIRB found that written premium for the first nine months of 2005 was $16.3 billion, roughly 10 percent lower than for the first nine months of 2004.
WCIRB found the average rate per $100 of payroll fell even more sharply, dropping 18 percent from $5.37 in the first half of 2005 to $4.42 for the third quarter.
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