Insurance Commissioner Ricardo Lara approved 6.6% average increase in California’s advisory pure premium rates effective with new or renewal business on or after September 1st. But tens of thousands of employers will see rate increases far above that, some over 30%. Brokers should prepare clients in nearly three-dozen classes that have increases in advisory pure …
Acting on the advice of the California Department of Insurance’s actuary, the Insurance Commissioner approved a 6.6% increase in California’s workers’ comp advisory pure premium rates. The approved rate was 3.8 points below what the insurance industry requested and 1.8 points above what an independent actuary representing employers and organized labor recommended. “While the indicated …
Insurance Commissioner Ricardo Lara effectively split the baby and approved the second consecutive increase in California’s workers’ comp advisory pure premium rates. In a decision released late Friday afternoon, the …