The California Workers' Compensation Insurance Rating Bureau on Friday released the below press statement, seeking to set the organization apart from Insurance Commissioner John Garamendi's decision to lower the pure premium rate by almost 15 percent.
"Earlier today, the California Insurance Commissioner issued a decision regarding the WCIRB's amended January 1, 2004 regulatory filing. In the amended filing made on November 3, 2003, the WCIRB recommended that pure premium rates be reduced, on average, from 2.9% to 5.3%. See WCIRB Files Amended January 1, 2004 Regulatory Filing. In the decisi...
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