California Workers’ Comp Insurers to Raise Rates

December 11, 2008

The California Department of Insurance has approved rate increases for several workers’ compensation insurers.

California Insurance Commissioner Steve Poizner had recommended a 5 percent increase in his rate advisory. However, several insurers requested increases in excess of 5 percent, including: Ace Property and Casualty Insurance Co. (8.7 percent), Assurance Company of America (6.2 percent); Employers Direct Insurance Co. (17.3 percent), Federated Rural Electric Insurance Corp. (32.1 percent), Florists’ Mutual Insurance Co. (9.5 percent), Great American Assurance Co. (10.5 percent), Maryland Casualty Co. (12.1 percent), National Interstate Insurance Co. (12.8 percent), Pacific Employers Insurance Co. (8.6 percent), Springfield Insurance Co. (10.4 percent), Ullico Casualty Co. (6.7 percent), Universal Underwriters Insurance Co. (5.7 percent), Zurich American Insurance Co. (5.8 percent), Zurich American Insurance Company of Illinois (17.4 percent).

To view the Dec. 1, 2008 rate filing approvals, visit http://www.insurance.ca.gov/0250-insurers/0800-rate-filings/0100-rate-filing-lists/rate-filing-approvals/index.cfm.

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