AIA: Do Not Mandate Premium Reductions in CA

California Insurance Commissioner John Garamendi and the Workers' Compensation Insurance Rating Bureau (WCIRB) were correct in calling for stabilization of the workers' compensation insurance market before employers will see a difference in their premiums, the American Insurance Association (AIA) agreed today. "The Legislative Conference Committee should pay close attention to yesterday's testimony by the Insurance Commissioner and WCIRB’s chief actuary," said Jeanne Cain, vice president, AIA western region. "We agree that we need to resolve the problems plaguing the market before insurers...