12 Billion Dollars In Losses For California Workers’ Compensation Insurers In 2020 According To WCIRB By by Lonce Lamonte, editor, and the WCIRB - June 29, 2021
The Workers’ Compensation Insurance Rating Bureau (WCIRB) in California now has its report for the year 2020 on workers’ compensation losses and expenses.
The salient findings in this report for the year 2020 are:
Medical losses paid were $4.2 billion, which was 53% of total loss payments.
Indemnity benefits paid were $3.7 billion or 47% of total loss payments. Temporary disability benefits were 53% of indemnity payments and permanent partial disability benefits were 36%.
Total insurer combined losses and expenses were $12 billion or 85% of calendar year premium compared to $13.2 billion.
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