Did the cost for workers' comp insurance for small businesses significantly increased in recent years?

Workers compensation insurance rates are at an all time low in California as of 2010, but are on the increase since 2013 and are likely to continue to increase. The increased cost of medical care has hit the carriers significantly at a time when they were offering very low rates, so many if not all of the carriers are now taking increases. The carriers are also having a far more difficult time making money on their capital which was a cash cow before, so most likely they are going to be looking for more underwriting profits.

Your broker should be able to outline exactly why your business insurance prices are increasing as frequently if there are large increases it is more due to your claims, operations, carriers who will quote than it is an industry wide thing.