The dollar amount of workers' compensation insurance premiums written in California dropped by nearly one-fourth between the first six months of 2007 and the same period a year earlier, according to a report from the state Workers' Compensation Insurance Rating Bureau.
In a summary of insurer experience for the first half of 2007, the WCIRB said that written premium was estimated at $6.9 billion, a decrease of 23 percent from written premium levels for the same timeframe in 2006.
The WCIRB reported a decrease of 22 percent in the average statewide insurer rate between the first six months of 2007 and 2006. On average, employers paid $2.92 per $100 of payroll for workers compensation, down from $3.76 per $100 of payroll during the first half of 2006.
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