Texas Insurance Commissioner Mike Geeslin issued a bulletin setting workers' compensation classification relativities effective March 1.
The relativity numbers are used in ratemaking and are updated annually by the Texas Department of Insurance, spokesman Jerry Hagins explained.
The numbers are intended to reflect risks for various business classifications and provide "an accurate reflection of the risks" within each business category, Hagins said.
The department is required by state law to review and revise workers' compensation rates and relativities every five years but does so on ...
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