Jones Voices Concerns over Rate Adequacy, Effects of SB 863

SAN FRANCISCO – On the same day that California reclaimed the dubious distinction of being the most expensive state for workers' compensation, Insurance Commissioner Dave Jones warned that some carriers might not be charging enough to cover their costs. In closing Wednesday's hearing on the 2015 advisory pure premium rate, the commissioner said it's important to recognize the gap between the current industry average filed pure premium rate of $2.57 per $100 of payroll as of July 1, 2014, and recommendations of the Workers' Compensation Insurance Rating Bureau and an actu...