Proposed 10.2% Pure Premium Rate Cut Faces little Opposition at Hearing

SAN FRANCISCO – Most of a two-hour regulatory hearing Thursday morning on whether California should adopt a 10.2% pure premium rate cut for workers’ compensation insurance was spent discussing why the move is called for, with little doubt expressed from any side. The advisory rate cut, which Insurance Commissioner Dave Jones has 30 days to decide upon, could act as something of a bellwether for future pricing decreases in California, according to Workers’ Compensation Insurance Rating Bureau President Bill Mudge. Mid-year rate filings are rare – the Rating Bu...