Total insurer combined losses and expenses incurred in 2023 were down, a new report shows.
The Workers’ Compensation Insurance Rating Bureau of California released its report on workers’ compensation losses and expenses for 2023.
Findings in the WCIRB report, , include:
- Medical losses paid in 2023 were $4.7 billion, or 53% of total loss payments.
- Indemnity payments benefits paid in 2023 were $4.2 billion, or 47% of total loss payments.
- Total insurer combined losses and expenses incurred in 2023 were $14.3 billion, or 91% of calendar year premium, compared to $15.0 billion, or 98% of calendar year premium, in 2022.
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