California Insurance Commissioner John Garamendi released this press statement late yesterday:"At Senator Brulte's news conference today, Dr. Richard B Farmer made an inaccurate and incorrect statement when he asserted that I had approved pure premium rate increases for workers' compensation insurance.
"I have never approved any pure premium rate increase recommendation from the Workers' Compensation Insurance Rating Bureau (WCIRB), nor have I received any during my tenure. In addition, WCIRB rate recommendations are only advisory rates - carriers may deviate from the recommended rate based...
Comments