The California Labor Code allocates for "six assessment types between insured and self-insured employers in proportion to payroll for the most recent year available," according to the Department of Industrial Relations. Assessments for the fiscal year 2023/2024 will increase by $1.7 billion for workers' comp insurers, the California Restaurant Mutual Benefit Corp. reports. (Credit: Ratana21/Adobe Stock)
In late November, the California Department of Industrial Relations (DIR) notified all insurers that administer workers' compensation in the Golden State that the fiscal year 2023/2024 will include billions of dollars in new assessments.
"These assessments provide a stable funding source to the support operations of the courts, to ensure safe and healthy working conditions on the job, to ensure the enforcement of labor standards and requirements for workers' compensation coverage," Department Director Katrina Hagen wrote in a memo dated Nov. 29, 2023. (The memo was shared with media outlets by the California Restaurant Mutual Benefit Corp., or CRMBC, which is a self-insured group run by and for restaurant owners.)
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
