Employers Holdings Feels Impact of Golden State Rate Increase

Employers Holdings appears to be going it alone in raising workers’ comp insurance rates in California, a move that put a nearly $12 million dent in the company’s new business in the state, executives said Thursday. Employers’ rate increase for California customers, implemented July 1, averaged about 8% across four territories, with larger increases in the Los Angeles area. The monoline carrier specializes in coverage for small businesses in low to medium-hazard industries. After three months of the higher rates, new business in California was down $11.7 million in the ...