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Calif. Comp Rates See Big Reductions

Most workers' compensation insurers in California are lowering their rates as they file for July renewals, with many going above and beyond Insurance Commissioner ...

By Matt Brady | Updated on February 11, 2005

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.

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