DWC posts workers' compensation
insurance rate studies on line
Groups submitting proposals to study the effects of reforms on workers' comp
rates should review these reports
The Division of Workers' Compensation today posted volumes one through five of the Workers' Compensation Rate Study Commission of 1992 report. Prospective bidders who respond to the division’s “Request for Proposal” (RFP) on SB 899 insurance study will need to review the report as part of their work approach. Providing access to the report – which is not widely available – at this juncture allows prospective bidders the opportunity to review the report they’ll have to evaluate if they submit the winning bid.
Another study of the workers' compensation insurance market and recent trends, done for the Commission on Health and Safety and Workers' Compensation by the Hays Group, is also available for review by clicking here.
As part of Senate Bill (SB) 899, a study was authorized to look at the cost impacts of recent California workers' compensation reforms, and the extent to which savings generated by the reforms were being reflected in employers' premium rates (Labor Code Section 138.65). The intent of the study is to look at the effects of the reforms on the insurance marketplace and competition. A final report to the Legislature, governor and insurance commissioner is due Jan. 1, 2006. The governor and insurance commissioner will review the results of the study and make recommendations as to the appropriateness of regulating insurance rates. Study proposals are due Mar. 10, 2005.
Each of the following essential elements of the study is discussed in the RFP:
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