Commissioner Focuses on Reform Savings during Rate Hearing

By Greg Jones, Western Bureau ChiefSACRAMENTO, Calif. – When deciding where to set next year's pure premium rate, California Insurance Commissioner David Jones will have to decide whether to believe Workers' Compensation Insurance Rating Bureau actuaries, or their bosses.“What strikes me is the dramatic difference between what the WCIRB Actuarial Committee recommended as the actuarially indicated pure premium rate considering all the consequences of SB 863, and what the Governing Committee adopted,” Jones said during a four-hour-long rate hearing on Friday.The Rating ...