Bureau Beats the Commish: Garamendi Stays at 15 Percent
Nearly two months after his scheduled rate hearing, California Insurance Commissioner John Garamendi finally recommends that carriers decrease rates by 15.3 percent for policies renewing and incepting Jan. 1. His recommendation is actually a little less than the Workers’ Compensation Insurance Rating Bureau shocking the industry. The Bureau recommended a 15.9 percent decrease for January …
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