While injured worker advocates have been railing about obscene profits enjoyed by California workers' comp carriers, the industry itself is making noise about back-to-back rate cuts going too far.
The San Francisco Business Times on Tuesday published an article quoting executives at Employers Direct Insurance Co. and ABD Insurance and Financial Services who warned that overzealous rate cuts could put the industry in the same boat as it was in the 1990s, when an industrywide price war forced the liquidation of 26 carriers. A few adverse court decisions could dilute the impact of California's ...
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