Zenith Insurance Co. announced Thursday that it will reduce rates 5% effective July 1, far less than the 16.4% reduction recommended by the Workers' Compensation Insurance Rating Bureau (WCIRB).
As the third-largest carrier in the California market -- behind State Compensation Insurance Fund and American International Group -- Zenith's early filing is an important barometer for the industry. The company did not even wait for Insurance Commissioner John Garamendi to act on the WCIRB's rate recommendation before making its rate filing.
Zenith Chairman/President Stanley Zax said his company is ...
Comments