|
In a late Friday afternoon announcement California Insurance Commissioner Dave Jones approved a 7.6% increase for the 2014 workers' comp pure premium advisory rates. The decision by the California Department of Insurance (CDI) knocked roughly five cents off what the Workers' Compensation Insurance Rating Bureau (WCIRB) had asked for last month in its amended rate filing. The Department removed State Fund's loss adjustment expenses from WCIRB's projections because State Fund's costs are so much higher than other carriers. The insurer funded and controlled WCIRB asked for a 9.6% rate hike overall. |
Work comp Rate Hike
Written by Sterling Agency Insurance Services on Nov 25, 2013