Insurance Commissioner Dave Jones Releases Report On Workers' Compensation Reforms
News: 2012 Press Release
Insurance Commissioner Dave Jones released today the savings and cost analysis of the workers' compensation reforms introduced in SB 863, co-authored by Senator DeLeon and Assembly Member Solorio. Commissioner Jones requested the California Workers' Compensation Insurance Rating Bureau (WCIRB), which is licensed by the Department of Insurance and is the sole rating organization for all California workers' compensation insurance companies, to review the reform proposals and determine the costs and savings achieved by the bill to support needed increases in permanent disability benefits to injured workers.
The analysis by the WCIRB indicates that SB 863 has cost savings that significantly offset the costs of providing needed increases of permanent disability benefits for California's injured workers," said Commissioner Jones. "I remain concerned about continued rising costs in the system, however, particularly medical costs and the expenses to adjust workers' compensation claims, and encourage all stakeholders to look for additional ways to reduce system costs."
View the entirety of the WCIRB's report and its analysis of SB 863's savings and costs.
The California Department of Insurance, established in 1868, is the largest consumer protection agency in California. Insurers collect $310 billion in premiums annually in California. Since 2011 the California Department of Insurance received more than 1,000,000 calls from consumers and helped recover over $469 million in claims and premiums. Please visit the Department of Insurance website at www.insurance.ca.gov. Non-media inquiries should be directed to the Consumer Hotline at 800.927.4357. Telecommunications Devices for the Deaf (TDD), please dial 800.482.4833.