The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2022.
Key findings in the report include:
- Medical losses paid in 2022 were $4.4 billion, or 53 percent of total loss payments.
- Indemnity benefits paid in 2022 were $4.0 billion, or 47 percent of total loss payments. The following benefits accounted for the majority of those indemnity payments: temporary disability (56%); permanent partial disability (34%); vocational rehabilitation (1.8%).
- Total insurer combined losses and expenses incurred in 2022 were $15 billion, or 98% of calendar year premium, compared to $13.1 billion, or 96 percent of calendar year premium, in 2021.
The report is on the WCIB website.
Topics California Carriers Profit Loss Workers’ Compensation