Search
 
Commentary

View from the C-Suite: California workers’ compensation market trends

This open mic session at the California Workers Comp & Risk Conference in Dana Point featured insurance industry leaders identifying emerging market trends that are important to employers in California.

By Mark Walls | Updated on September 16, 2014

This open mic session at the California Workers Comp & Risk Conference in Dana Point featured insurance industry leaders identifying emerging market trends that are important to employers in California.  Panelists included moderator Pamela Ferrandino, National Practice Leader at Willis North America, Bill Rabl, Chief Operating Officer at ACE Risk Management, Robert Darby, President at Berkshire Hathaway Homestate Companies and Former Chairman of WCIRB, Duane Hercules, President at Safety National, and Michele Tucker, Vice President at CorVel. 

The panelists indicated that their short-term outlook on rates was flat to slightly higher, but not as high as seen over the last couple of years.  There are more carriers entering the California marketplace, which is leading to more competition for first-dollar accounts.  From the self-insured and large deductible standpoint, the amount retained by the employer with a deductibles or self-insured retentions tends to be more important than the rate because the goal of these loss-sensitive programs is for the carrier to only attach on unusual claims such as catastrophic injuries. 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Mark Walls

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.