Most workers' compensation insurers in California are lowering their rates as they file for July renewals, with many going above and beyond Insurance Commissioner John Garamendi's call for an 18 percent reduction in pure premium rates.
Roughly 89 percent of the filings received by the Department of Insurance during the first three weeks of June included a decrease in pure premium with the majority of those at or above Mr. Garamendi's recommended reduction.
Of the others, approximately 7 percent were keeping their rates the same and the remaining 4 percent were increasing rates. Rate increases filed were as high as 3.3 percent, while the largest decrease, filed by both the Maryland Casualty Company and Zurich American Insurance Company of Illinois, was 26.1 percent.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
