California Insurance Commissioner Dave Jones went beyond restating his desire to see employers share in the savings generated by recent workers’ compensation reforms: He called on state lawmakers to give him the authority to reject excessive rates when announcing his decision to reduce the advisory pure premium rate by 3% for policies incepting in 2018.
In announcing his order dropping the advisory pure premium rate to $1.94 per $100 of payroll, from $2, Jones noted that the new rate is 17.1% higher than the industry average filed pure premium rate of $2.34 as of July 1.
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