Liberty Mutual is Pulling Back in Calif. with a Close Eye on Fla.

By Michael Whiteley, Eastern Bureau Chiefmike@workcompcentral.comLiberty Mutual Group, the nation's largest workers' compensation carrier, is reducing its exposure in California and warned this week that steep rate reductions in Florida could mirror conditions in the homeowners' market that drove dozens of carriers from the state.In a conference call with analysts Tuesday, Liberty Mutual President and Chief Executive Officer Edmund M. Kelly stopped short of threatening to leave the workers' compensation market in either state. But he did say that Liberty Mutual's 12% declin...