California Insurance Commissioner John Garamendi says that carriers have dropped workers comp rates by a cumulative 26 percent since July 1, 2003 with the cost of claims going down by a cumulative 36 percent. But the Commissioner says that only two thirds of that cost savings has been passed on to employers with insurance carriers pocketing about a third of the potential savings.The Commissioner makes his announcement as another round of rate making approaches and loss ratios continue
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