- The Wisconsin Compensation Rating Bureau (WCRB) is a licensed rate service organization.
- WCRB exists under Chapter 626 of the WI Statutes.
- The purpose of the WCRB is:
- To establish, maintain and administer rules, regulations, classifications, rates and rating plans to govern the transaction of insurance included in s. 626.03;
- To cooperate with other rate service organizations and with insurers in the development of rules, rates and rating plans and insurance policies and forms;
- To secure and analyze statistical and other data required to accomplish these purposes;
- To inspect and classify risks;
- To file with the commissioner on behalf of its members every manual of classifications, rules and rates, every rating plan and every modification of any of them proposed for use in this state;
- To assist the commissioner and insurers in the promotion of safety in industry;
- And
- To assist in any matter necessary for the accomplishment of these purposes.
- The WCRB also administers the Wisconsin Worker's Compensation Insurance Pool.
- While not a state agency, WCRB is regulated by the State of Wisconsin Office of the Commissioner of Insurance (OCI) and works very closely with the Worker's Compensation Division of the Wisconsin Department of Workforce Development (DWD).
- WCRB assists DWD in its enforcement activities. By law, the WCRB receives required information on every worker's compensation policy issued to every employer with operations in Wisconsin and every termination thereof, and electronically transmits this information to the Worker's Compensation Division.
- The WCRB is an unincorporated association of insurers.
NOTE: Ch 626.32, Wis Stats Development of rates by bureau. (1) ACQUISITION OF INFORMATION. (a) General. Every insurer writing any insurance specified under s. 626.03 shall report its insurance in this state to the bureau at least annually, on forms and under rules prescribed by the bureau. The bureau shall file, under rules promulgated by the department of workforce development, a record of such reports with that department. No such information may be made public by the bureau or any of its employees except as required by law and in accordance with its rules. No such information may be made public by the department of workforce development or any of its employees except as authorized by the bureau.