Reduced Pure Premiums Not Yet Translating to Lower Charged Rates

Workers' compensation carriers in California have lowered their pure premium rates by an average of nearly 5% since the insurance commissioner approved a 10.2% mid-year rate reduction. But what carriers actually charge policyholders is a different matter. Right now, insurance companies are all over the board with their pure premium adjustments, with some taking the full reduction recommended by Jones, some taking a more conservative approach and reducing pure premiums only slightly and others that are still increasing rates. And, the pure premium rate doesn't necessarily correlate d...