California Insurance Commissioner Steve Poizner will hold a hearing today to receive testimony from the Workers’ Compensation Insurance Rating Bureau (WCIRB) regarding its pure premium rate recommendation. Commissioner Poizner will soon determine the workers’ compensation pure premium rate, which the workers compensation insurance industry uses as a benchmark for filing its rates.
On March 20, 2007, the WCIRB submitted a rate filing to the California Department of Insurance recommending an 11.3 percent decrease in pure premium rates to be effective on policies on or after July 1, 2007.
Poizner has previously stated he supports ongoing workers’ compensation reforms, particularly in their ability to encourage greater competition in the marketplace.
The meeting will be held at 10 a.m. at the California Dept. of Insurance, AHB Hearing Room, 22nd Floor, 45 Fremont Street, San Francisco.
Source: CDI
Topics California Workers' Compensation
Was this article valuable?
Here are more articles you may enjoy.
Europe’s Insurers Cut Coverage of Weather Losses, Report Says 
Banking Watchdogs Ramp Up AI Scrutiny as Stability Fears Mount, Sources Say 
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
Supervisor’s Punching of Employees Enough for Tort Suit, NC Appeals Court Says 
