Guv Concurs – Industry: – Garamendi’s “Approved Rate” Not Grounded In “Facts”

The numbers are in and, as expected, most California workers' comp carriers are not decreasing pure premium rates to the levels approved by Insurance Commissioner John Garamendi. But, industry experts say, the July 1 decreases filed by the companies from some of the larger carrier groups such as AIG, State Fund and others, show that carriers are willing to make some bold decreases, despite a still-volatile market.On Friday, State Fund reduced its average rates an additional 7 percent fr