Learn which versions of WSRB loss costs are accessible.
In this article, you'll find answers to the following questions:
- Which loss cost editions are available?
- Why have older versions of WSRB loss costs been removed?
- What happens when a new loss cost edition is released?
Which loss cost editions are available?
As of June 30, 2023, outdated versions of WSRB Loss Costs have been removed; only the current edition (2021) and one prior edition (2015) are available.
This change helps ensure companies avoid rating errors and compliance issues. We strongly encourage you to adopt the latest version so that you can fully understand the risk components that create loss costs and accurately rate the policy.
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Why have older versions of WSRB loss costs been removed?
For many years, WSRB has maintained several versions of commercial property Loss Costs for specifically rated buildings to accommodate subscribing insurers that delayed the adoption of the most current version.
Recent research has confirmed that companies often select the incorrect WSRB Loss Cost version by mistake from WSRB’s online lookup, which has led to rating errors and compliance issues.
Maintaining outdated versions of Loss Costs is also resource-intensive and increases operating costs.
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What happens when a new loss cost edition is released?
For all future WSRB Loss Cost updates, we will provide 18 months’ notice before we remove the outdated version, to allow you time for filing and approval.
If you have questions about how to use the tentative loss cost calculator, contact our Customer Service team at 206-217-0101 or by clicking here.
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