Ratemaking Hearing Scheduled for Sept. 24

The California Department of Insurance announced that it will hold a public hearing on the Workers’ Compensation Insurance Rating Bureau Jan. 1, 2013, pure premium rate filing on Sept. 24 in San Francisco.The Rating Bureau on Aug. 21 filed its annual ratemaking proposal that recommended the insurance commissioner increase the advisory pure premium rate to $2.68 per $100 of payroll. The recommended rate is 12.6% higher than the average pure premium rate filed with the Insurance Department of $2.38, and 7.63% higher than the $2.49 rate approved by Insurance Commissioner Dave Jones for poli...