California’s 2024 Comp Combined Ratio Reaches Highest Level in Over Two Decades
In a recent report, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) revealed significant changes in the projected loss ratios for accident year 2024. After three years of relatively stable loss ratios, the projected loss and allocated loss adjustment expense ratio has surged by 9 points. Additionally, the combined ratio for the same accident year has increased by 12 points, marking the highest levels seen in over two decades.
The WCIRB’s Quarterly Experience Report, which provides updated insights into the statewide insurer experience as of September 30, 2025, highlights these alarming trends.
Related: Workers’ Comp Continues to Lead P/C Industry With Strong Profits
Interestingly, the report indicates that written premium levels for calendar years 2022 to 2024 have remained relatively stable, especially when compared to the fluctuations experienced during the pandemic. In fact, written premium in the first nine months of 2025 was approximately 1% higher than during the same period in 2024.
Furthermore, the industry average charged rates have remained flat compared to 2024, suggesting that the downward trend observed since 2014 has finally stabilized, according to the WCIRB.
Related: Viewpoint: California Workers’ Comp Outlook And What Stakeholders Need to Know
Despite the insurance commissioner approving an 8.7% increase in advisory pure premium rates effective September 1, 2025, average insurer rates through September 30 have yet to reflect this increase.
Topics
Trends
California
Was this article valuable?
Here are more articles you may enjoy.
Interested in Trends?
Get automatic alerts for this topic.
In a recent report, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) revealed significant changes in the projected loss ratios for accident year 2024. After three years of relatively stable loss ratios, the projected loss and allocated loss adjustment expense ratio has surged by 9 points. Additionally, the combined ratio for the same accident year has increased by 12 points, marking the highest levels seen in over two decades.
The WCIRB’s Quarterly Experience Report, which provides updated insights into the statewide insurer experience as of September 30, 2025, highlights these alarming trends.
Related: Workers’ Comp Continues to Lead P/C Industry With Strong Profits
Interestingly, the report indicates that written premium levels for calendar years 2022 to 2024 have remained relatively stable, especially when compared to the fluctuations experienced during the pandemic. In fact, written premium in the first nine months of 2025 was approximately 1% higher than during the same period in 2024.
Furthermore, the industry average charged rates have remained flat compared to 2024, suggesting that the downward trend observed since 2014 has finally stabilized, according to the WCIRB.
Related: Viewpoint: California Workers’ Comp Outlook And What Stakeholders Need to Know
Despite the insurance commissioner approving an 8.7% increase in advisory pure premium rates effective September 1, 2025, average insurer rates through September 30 have yet to reflect this increase.
Topics
Trends
California
Was this article valuable?
Here are more articles you may enjoy.
Interested in Trends?
Get automatic alerts for this topic.
