Zenith Files for a 4% Rate Hike

Zenith Insurance Co. on Tuesday announced that it filed for an average 4% rate increase to take effect Jan. 1, significantly undercutting the rate hikes announced by State Compensation Insurance Fund and other competing carriers.Zenith had previously predicted a rate increase on the order of 5% in a notice to investors. State Compensation Insurance Fund announced an 8.9% rate increase on Nov. 13. The Workers' Compensation Insurance Rating Board recommended a 16% increase in the pure premium rate, but Insurance Commissioner Steve Poizner approved a 5% hike in the advisory benchmark instead....