Department Says It’s Monitoring Industry – California Industry Under-Reserved by $12.6 Billion

SACRAMENTO -- Confirming that the industry is still trying to push pricing up to profitable levels, the Workers' Compensation Insurance Rating Bureau last month issued its latest warning about California industry's reserves. They're deficient by $12.6 billion.But what is shocking is that rates last year were apparently too low, despite sweeping price hikes by all carriers.The Rating Bureau estimates that the industry is under-reserved by $3.7 billion for last year alone. Not surprisingly, individ